MIAMI, Feb. 27 -- The Board of Directors of Royal Caribbean
Cruises Ltd. (NYSE: RCL) has declared quarterly dividends for its common stock
and for its Series A preferred stock.

The dividend for common stock is 14 cents per share for shareholders of
record at the close of business on March 10, 1997, payable on March 27, 1997.

The dividend for the Series A preferred stock is 85.59 cents per share for
shareholders of record at the close of business on April 29, 1997, payable on
May 15, 1997.

This is the 15th consecutive quarter Royal Caribbean's Board of Directors
has voted to declare a dividend to common stock shareholders. It is the first
dividend declaration for the company's Series A preferred stock which began
trading February 13, 1997.

Royal Caribbean is one of the world's largest cruise lines, operating 10
modern ships with a total capacity of 17,770 berths. In 1997 and 1998, the
company will introduce three more ships with a total additional capacity of
5,950 berths. The award-winning vessels of the fleet offer passengers 54
different itineraries and 134 destinations and attractions in Alaska, the
Bahamas, Bermuda, the Caribbean, Europe, the Far East, Hawaii, Mexico, Panama
Canal, Russia and Scandinavia. Additional information about Royal Caribbean
is available on the Internet at
http://www.royalcaribbean.com.