MIAMI, April 4 -- Carnival Corporation (NYSE: CCL) announced
today that it has concluded a previously announced transaction with the
British tour company Airtours plc (LONDON: AIR) and acquired a 29.54 percent
equity interest in that company for approximately U.S. $300 million with $157
million payable in cash and $143 million payable through the issuance of
5,301,186 shares of Carnival Class A common stock. Of the total $300 million
consideration, $292 million was used to acquire 29.54 percent of the ordinary
shares of Airtours plc and $8 million was used to acquire 7.5 percent of the
convertible preference shares of Airtours.

Carnival Corporation Chairman Micky Arison and Vice Chairman Howard Frank
have been appointed non-executive directors of Airtours' board of directors.
Airtours Chairman David Crossland will join the Carnival Corporation board of
directors.

Airtours is a large leisure travel group operating in over 70 countries and
employing over 10,000 people. The group is comprised of UK, Scandinavian and
Canadian tour operators, two charter airlines, retail outlets in the UK,
Scandinavia and Finland, 41 hotels and two cruise ships.

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 took
delivery last month of the 70,000-ton vessel MS Inspiration and has two more
ships of this size scheduled 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 is scheduled to enter service in 1999. Holland America
has contracted for additional 1,266-passenger ship, the Veendam, scheduled for
delivery in the spring of 1996. Another ship, the Rotterdam VI, will at 62,000
gross registered tons begin a new class of vessel for Holland America Line
when delivered in the fall of 1997.

The shares of Carnival Class A common stock offered in the Airtours
transaction have not been, and will not be registered under the Securities Act
of 1933, as amended, and may not be offered or sold in the United States or to
United States persons absent registration or an applicable exemption of the
registration requirements of such Act.