MIAMI, Feb. 25 -- Carnival Corporation (NYSE: CCL) and Hyundai
Merchant Marine have chosen the name "Carnival Cruises Asia" for the new joint
venture to develop the Asian cruise market. The new company will begin
operating Asian cruises on what is currently operating as Carnival Cruise
Lines' MS Tropicale in the spring of 1998.

"Over the past five months, we came up with a number of creative and
imaginative names for our new company. However, our partners from Hyundai
believed that, given the tremendous popularity of Western products in the Far
East, Carnival Cruises Asia' would be most effective in promoting cruises in
the Asian marketplace," said Ray Lutz, Carnival Cruises Asia's president and
CEO. Lutz added that the vessel's name, Tropicale, will also be retained by
the new company.

The first cruise product targeted specifically at the Asian population,
Carnival Cruises Asia will operate its initial season sailing from Inchon,
Korea, to China and possibly Japan aboard the 1,022-passenger MS Tropicale,
which will undergo a multi-million-dollar refurbishment before entering Asian
service next year. During the winter, the 36,674-ton vessel will be
repositioned to other ports throughout Southeast Asia.

The new company, which will be headquartered in Seoul, Korea, has begun to
assemble its management team, naming a 26-year veteran of Holland America
Line, Johan Groothuizen, as vice president of hotel and marine operations and
Jack Chatham vice president sales and marketing earlier this month. Chatham
previously worked as senior vice president of marketing and sales for both
Regency Cruises and Sitmar Cruises.

Other initiatives, including the company's reservations organization, will
be put in place over the next several months.

"Our new cruise venture is beginning to take shape and we are hard at work
implementing our various operational, managerial and financial planning
procedures as we gear up for the launch of our maiden voyage next year," Lutz
said.