MIAMI, April 5 -- Royal Caribbean Cruises Ltd. (NYSE: RCL) and
Costa Crociere S.p.A jointly announced today that the two companies have
suspended discussions regarding a possible transaction which could have
resulted in Royal Caribbean making a significant equity investment in Costa.
The first announcement of the discussions was made on December 15, 1995 at
which time it was stated that the discussions could be discontinued at any
time without obligation.

Both companies devoted considerable effort to evaluating the marketing and
operational benefits of such a transaction. However, the two companies were
not able to reach an agreement on a mutually beneficial arrangement at this
time.

"Costa is a high-quality company with a similar customer satisfaction
philosophy to Royal Caribbean," said Richard D. Fain, Royal Caribbean's
Chairman and CEO. "The past four months have given us high respect for
Costa's product offering and organization."

"Our close association with Royal Caribbean during these discussions has
convinced me that even though we have not been able to reach an agreement, our
companies share similar values and attributes," said Nicola Costa, Costa
Crociere's Chairman.

Royal Caribbean Cruise Line is one of the world's largest cruise lines and
operates primarily in the Caribbean, Mexico and Alaska as well as in Bermuda,
Europe and the Far East.

Costa Crociere S.p.A is the leading cruise line in Europe and operates
primarily in the Mediterranean, Northern Europe, South America and the
Caribbean.