MIAMI, Feb. 6 -- Carnival Corporation (NYSE: CCL) today
announced that it sold an option to NCL Holding AS to purchase the $101
million of 13 percent senior secured notes due 2,003 of Kloster Cruise,
Limited that are currently owned by Carnival. The option expires on May 31,
1996. If exercised, Carnival would record a small gain on its sale of the
Kloster notes.

Carnival Corporation originally purchased the notes in late October 1995.
The two companies entered into discussions regarding Carnival acquiring an
equity position in Kloster Cruise but, as previously disclosed, those
discussions ended approximately two weeks later without concluding any
agreement.

Under the option agreement, Carnival agreed not to acquire or offer to
acquire NCL Holding's or Kloster's assets, debt or shares for a period of 19
months. These restrictions will not apply if either, Kloster defaults on
interest payments due May 1, 1996 on the notes and the notes have not been
purchased from Carnival under the option agreement; or if the option is not
exercised by the May 31, 1996 expiration date.

Carnival Corporation is comprised of Carnival Cruise Lines, the world's
largest cruise line based on number of passengers carried, Holland America
Line, Windstar Cruises and Seabourn Cruise Line, which combined operate 23
ships in the Caribbean, Alaska and other worldwide destinations. The combined
group introduced two new ships in 1994, one in 1995, and has seven more ships
slated to begin service over the next four years. Carnival Cruise Lines has
three 70,000 ton vessels under construction. The first of those, the
Inspiration, is scheduled to begin service in March 1996. Two more
as-yet-unnamed 70,000-ton vessels are slated for delivery in February and
November of 1998. It also has under construction the Carnival Destiny, which
will be the largest passenger ship ever built when it is introduced in
November 1996. A sister to the Carnival Destiny will enter service in 1999.
Holland America has contracted for an additional 1,266-passenger ship, the
Veendam, scheduled for delivery in the spring of 1996. Another ship, at
62,000 gross registered tons, will begin a new class of vessel for Holland
America Line when delivered in the fall of 1997.