SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Expires: December 31, 2014 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* FRANK HOWARD S (Last) (First) (Middle) (Street) (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol CARNIVAL PLC [ CUK ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) Vice Chairman & COO
	3. Date of Earliest Transaction (Month/Day/Year) 07/01/2003
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Trust Shares (beneficial interest in special voting share)(1)	07/01/2003		S		50,000	D	32.2975(2)	370,040.4188(7)	D
Trust Shares (beneficial interest in special voting share)(1)	07/01/2003		M		400,000	A	11.25	770,040.4188(7)	D
Trust Shares (beneficial interest in special voting share)(1)	07/01/2003		S		400,000	D	32.2975(2)	370,040.4188(7)	D
Trust Shares (beneficial interest in special voting share)(1)	07/01/2003		S		9,600	D	32.48	0	I	By Spouse(3)
Trust Shares (beneficial interest in special voting share)(1)	07/01/2003		S		2,002	D	32.327	0	I	By Trust(3)(4)
Trust Shares (beneficial interest in special voting share)(1)	07/01/2003		S		2,000	D	32.327	0	I	By Trust(3)(5)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Option to purchase Trust Shares (beneficial interest in spec(1)	11.25	07/01/2003		M			400,000	05/30/1999(6)	05/30/2005	Trust Shares (beneficial interest in special voting share)(1)	400,000	$0	800,000	D

Explanation of Responses:

1. Represents trust shares (the "Trust Shares") of beneficial interests in P&O Princess Voting Trust (the "Trust"). In connection with the dual listed company transaction between Carnival plc (f/k/a P&O Princess Cruises plc) and Carnival Corporation (the "DLC Transaction"), Carnival plc issued one special voting share to the Trust and, following a series of transactions, the Trust Shares were distributed to holders of common stock of Carnival Corporation (the "Carnival Corporation Common Stock"). Since completion of the DLC Transaction on April 17, 2003, if Carnival Corporation issues Carnival Corporation Common Stock to a person, the Trust will issue an equivalent number of Trust Shares to such person. The Trust Shares are paired with shares of Carnival Corporation Common Stock and are represented by the same stock certificate. The Trust Shares represent a beneficial interest in the Carnival plc special voting share.

2. Represents an average price per share sold. The actual prices are 1,000 at $32.49; 20,000 at $32.45; 10,000 at $32.43; 61,300 at $32.35; 2,800 at $32.34; 7,200 at $32.33; 22,000 at $32.32; 7,900 at $32.31; 66,800 at $32.30; 29,300 at $32.29; 37,000 at $32.28; 28,800 at $32.27; 17,600 at $32.26; and 138,300 at $32.25.

3. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

4. Shares are owned by the Jackson S. Woolworth Irrevocable Trust of which the reporting person is trustee.

5. Shares are owned by the Cassidy B. Woolworth 2001 Irrevocable Trust of which the reporting person is trustee.

6. The options vested 20% on May 30, 1995, the grant date, and then 20% on each anniversary of the grant date in 1996, 1997, 1998 and 1999.

7. Includes 14.7437 Trust Shares acquired pursuant to the terms of a dividend reinvestment feature of the Carnival Corporation Employee Stock Purchase Plan.

	Howard S. Frank	07/01/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.