News Release

DISCLOSURE OF INTERESTS IN SHARES

MIAMI (November 23, 2004) – On November 22, 2004 Carnival Corporation notified Carnival plc that it transferred its entire holding of 41,679,877 Carnival plc ordinary shares of US$1.66 each of Carnival plc (“Ordinary Shares”) to one of its wholly owned subsidiaries Carnival Investments Limited. Following the transfer, Carnival Corporation continued for the purposes of the Companies Act 1985 to have a material interest over the Ordinary Shares.

In addition, on November 22, 2004 Carnival Investments Limited informed the Company that it had acquired a material interest over 41,679,877 Ordinary Shares representing 19.65% of the Ordinary Shares in issue. The Ordinary Shares are registered in the name of Carnival Investments Limited.