MIAMI, Feb. 6 -- Royal Caribbean Cruises Ltd. (NYSE: RCL) today
reported net income of $149.0 million or $2.35 per share for the year ended
December 31, 1995, up from $136.6 million or $2.16 per share in 1994. These
results include a gain of $19.2 million from the sale of Nordic Prince in 1995
and a $5.7 million or $.09 per share extraordinary charge in 1994 related to
the early retirement of a portion of the company's debt.

Revenues increased to $1.18 billion in 1995 from $1.17 billion in 1994 as a
result of a one percent increase in capacity due to the introduction of the
1,800-passenger Legend of the Seas in the second quarter of 1995 which was
partially offset by the sale of the 1,010- passenger Nordic Prince in the
first quarter of 1995. Revenue per available berth ("yield") remained
consistent with 1994.

Net income for the fourth quarter of 1995 was $16.4 million or $.26 per
share as compared to $18.7 million or $.30 per share in 1994. Revenues for the
fourth quarter of 1995 increased to $289.8 million from $281.9 million for the
fourth quarter of 1994. Operating income was $30.9 million in the fourth
quarter of 1995 as compared to $31.4 million for the same period in 1994. The
fourth quarter of 1994 reflected an extraordinary charge of $2.3 million or
$.04 per share related to the early retirement of a portion of the company's
debt.

"I'm pleased that our yields remained consistent with the exceptionally
strong performance in 1994 despite the many challenges our industry faced last
year principally due to pricing pressure from an increased level of
discounting among our competitors," said Richard D. Fain, Royal Caribbean's
Chairman and CEO. "Call volume and booking activity in January have exceeded
our expectations, strengthening our confidence about 1996 during which we will
take delivery of two more spectacular megaships."

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 plans to introduce five new ships with
a total additional capacity of 9,700 passengers.

Two ships will enter service this year (the 1,800-passenger Splendour of the
Seas in March and the 1,950-passenger Grandeur of the Seas in December 1996),
followed by two ships in 1997 (the 2,000- passenger Rhapsody of the Seas in
April 1997 and the 1,950-passenger Enchantment of the Seas in September 1997)
and one ship in 1998 (the 2,000-passenger Vision of the Seas in April 1998).

The award-winning vessels of the Royal Caribbean fleet offer passengers more
than 50 different itineraries and 140 destinations in the Caribbean, Mexico,
Bahamas, Alaska, Panama Canal, Bermuda, Europe, the Far East and Hawaii.

ROYAL CARIBBEAN CRUISES LTD.

SUMMARY FINANCIAL DATA

FISCAL YEAR FOURTH QUARTER

1995 1994 1995 1994

Revenues (000s) $1,183,952 $1,171,423 $ 289,806 $ 281,878

Operating

Income (000s) $ 183,933 $ 185,720 $ 30,891 $ 31,369

Income Before

Extraordinary

Item (000s) $ 148,958 $ 142,325 $ 16,411 $ 20,996

Extraordinary

Item (000s) $ --- $ (5,700) $ --- $ (2,296)

Net Income

(000s) $ 148,958 $ 136,625 $ 16,411 $ 18,700

Earnings Per

Share Before

Extraordinary

Item $ 2.35 $ 2.25 $ .26 $ .34

Extraordinary

Item

Per Share $ --- $ (.09) $ --- $ (.04)

Net Earnings

Per Share $ 2.35 $ 2.16 $ .26 $ .30

STATISTICS

Weighted Average

Shares

Outstanding 63,517,643 63,367,290 63,542,874 63,460,096

Occupancy As

A Percentage

Of Total Capacity 100.5 100.8 98.7 98.0

Passenger

Cruise Days 5,224,655 5,180,426 1,339,766 1,307,167