News Release

PUBLICATION OF PROSPECTUS

The following prospectus has been approved by the UK Listing Authority and is available for viewing:

Prospectus dated November 22, 2006 relating to the €750,000,000 4.25 per cent Guaranteed Bonds due 2013 issued by Carnival plc (the "Issuer") and guaranteed by Carnival Corporation (the "Guarantor"). The Issuer, the Guarantor and their subsidiaries taken as a whole are referred to herein as Carnival Corporation & plc. The net proceeds of the issue are intended primarily to refinance outstanding commercial paper, as well as for general corporate and working capital purposes.

The Prospectus should be read and construed in conjunction with the following documents which are incorporated by reference therein:

1. Carnival Corporation & Plc's Annual Report on Form 10-K for the year ended 30 November 2005,

2. Part I, Item 1, "Financial Statements" (pages 2-13); Part I, Item 2, "Forward Outlook", paragraphs 2 and 3 (page 16); Part I, Item 4, "Controls and Procedures" (page 21); Part II, Item 2, "Unregistered Sales of Equity Securities and Use of Proceeds" (pages 22-23); and Part II, Item 5, "Other Information" (page 23), in each case of Carnival Corporation & plc's Quarterly Report on Form 10-Q for the quarter ended 31 August 2006 and

3. Carnival Corporation & Plc's Current Report on Form 8-K dated 7 November 2006 (including Exhibit 99.1 thereto).

To view the Prospectus, please paste the following URL into the address bar of your web-browser.

www.rns-pdf.londonstockexchange.com/rns/5272m_-2006-11-22.pdf

The documents incorporated by reference in the Prospectus are available for viewing via Carnival Corporation & plc's website at www.carnivalcorp.com or www.carnivalplc.com.

Alternatively the full documents will be available for viewing shortly at the Document Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS

Carnival Corporation & plc is the largest cruise vacation group in the world, with a portfolio of 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 Cruises Australia.

Together, these brands own and operate 81 ships totaling approximately 144,000 lower berths with 17 new ships scheduled to enter service between March 2007 and spring 2010. Carnival Corporation & plc also owns and 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 the FTSE 100 indices.

Additional information can be obtained via Carnival Corporation & plc's website at www.carnivalcorp.com or www.carnivalplc.com or by writing to Carnival plc at Carnival House, 5 Gainsford Street, London SE1 2NE, United Kingdom.

DISCLAIMER: INTENDED ADDRESSEES

Please note that the information contained in the Prospectus may be addressed to and/or targeted at persons who are residents of particular countries (specified in the Prospectus) only and is not intended for use and should not be relied upon by any person outside these countries and/or to whom the offer contained in the Prospectus is not addressed. Prior to relying on the information contained in the Prospectus you must ascertain from the Prospectus whether or not you are part of the intended addressees of the information contained therein.

This is not for distribution, directly or indirectly, in or into the United States. These materials do not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933 (the "Securities Act"). The securities mentioned herein may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act. There will be no public offer of securities in the United States.

Your right to access this service is conditional upon complying with the above requirements.