MIAMI, Feb. 15 -- The Board of Directors of Royal Caribbean
Cruises Ltd. (NYSE: RCL) has declared a quarterly dividend of thirteen cents
per share for shareholders of record at the close of business on March 1, 1996
payable on March 29, 1996.

This is the eleventh consecutive quarter Royal Caribbean's Board of
Directors has voted to declare a dividend to shareholders.

Royal Caribbean Cruise Line is one of the world's largest cruise lines and
operates nine modern ships with a total capacity of 15,020 passengers.
Between 1996 and 1998, Royal Caribbean will introduce five more ships with a
total additional capacity of 9,700 passengers. The 1,800-passenger Splendour
of the Seas debuts in Europe on March 31 and the 1,950-passenger Grandeur of
the Seas begins year-round Caribbean cruises from Miami on December 14. Two
more ships will follow in 1997 and one more in 1998. The award-winning
vessels of the fleet offer passengers 54 different itineraries and 134
destinations and attractions in the Caribbean, Mexico, Bahamas, Alaska, Panama
Canal, Bermuda, Europe, the Far East and Hawaii. Additional information about
Royal Caribbean is available on the Internet at
<http://www.royalcaribbean.com>.