News Release

NOTIFICATION OF TRANSACTION OF DIRECTOR/PDMR

MIAMI (February 16, 2007) – Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) was notified that on February 15, 2007, Ambassador Richard G. Capen, Jr., a member of Carnival Corporation & plc's boards of directors, exercised 6,000 options to purchase Carnival Corporation common stock at US$22.57 per share and sold 3,000 shares at a price of US$48.68. Following this transaction, Capen continues to hold directly or indirectly 5,802 common shares and 68,000 options to acquire shares of Carnival Corporation common stock.

This notification relates to disclosures made in accordance with Disclosure Rule 3.1.4(R)(1)(a) and Disclosure Rule 3.1.4(R)(1)(b) disclosure made in accordance with section 324 of the Companies Act 1985.

Further details and a copy of the Forms 4, Statement of Changes in Beneficial Ownership of Securities, to be filed today 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.