News Release

Notification of Transaction of Director / PDMRS

MIAMI (December 29, 2010) – Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) was notified on December 24, 2010 that on that date David Dingle, Chief Executive Officer of Carnival UK, exercised 14,013 options to purchase shares of Carnival plc Ordinary Shares (“Shares”) at £25.48 per Share and sold 14,013 Shares on December 24, 2010 on the London Stock Exchange at a price of £30.0231 per Share.  Following this transaction, Mr. Dingle continues to hold 15,853 options to acquire Shares.

Carnival Corporation & plc was notified on December 27, 2010 that on December 23, 2010 Howard S. Frank, a member of Carnival Corporation & plc’s boards of directors, gifted 4,200 Shares of Carnival Corporation common stock (“Shares”) to Miami Art Museum of Dade County Association, Inc. and 5,000 Shares to New World Symphony.  In addition, on December 27, 2010, Howard S. Frank gifted an additional 1,500 Shares to New World Symphony.  Following these transactions, Mr. Frank continues to hold directly or indirectly 354,618 Shares.

This notification relates to disclosures made in accordance with Rule 3.1.4(R)(1)(a) of the Disclosure Rules and Transparency Rules.

Further details and a copy of the Forms 4, Statement of Changes in Beneficial Ownership of Securities, to be filed with the U.S. Securities & Exchange Commission, can be found at the SEC web site, www.sec.gov, and the Carnival Corporation & plc web site, www.carnivalcorp.com or www.carnivalplc.com.