Carnival & plc Announces Exchange Rate

Jason · June 4, 2005

MIAMI, June 1 /PRNewswire-FirstCall/ -- April 15, 2005, Carnival

Corporation & plc (NYSE: CCL; LSE) (NYSE: CUK) announced a quarterly cash dividend of $0.20 per share. The dividend is payable on June 10, 2005 to shareholders of record on May 20, 2005.

Holders of Carnival Corporation common stock or Carnival plc ADSs will

receive a dividend payable in U.S. dollars. The dividend for Carnival plc

ordinary shares will be payable in sterling unless shareholders elected to

receive the dividend in U.S. dollars by May 20, 2005.

Dividends payable in sterling will be converted from U.S. dollars at the

exchange rate quoted by the Bank of England in London at 11 a.m. on June 1, 2005 (US$1 = 55.11160 pence). Accordingly, the dividend payable in sterling on June 10, 2005, will be approximately 11.02232 pence per share.

Carnival Corporation & plc is the largest cruise vacation group in the

world, with a portfolio of 12 cruise brands in North America, Europe and

Australia, comprised of Carnival Cruise Lines, Holland America Line, Princess

Cruises, Seabourn Cruise Line, Windstar Cruises, AIDA Cruises, Costa Cruises, Cunard Line, Ocean Village, P&O Cruises, Swan Hellenic, and P&O CruisesAustralia.

Together, these brands operate 78 ships totaling more than 134,000 lower

berths with 12 new ships scheduled for delivery between July 2005 and April2009. Carnival Corporation & plc also operates the leading tour companies in Alaska and the Canadian Yukon, Holland America Tours and Princess Tours.

Traded on both the New York and London Stock Exchanges, Carnival Corporation & plc is the only group in the world to be included in both the S&P 500 and theFTSE 100 indices.