MIAMI, Feb. 24 -- Carnival Cruise Lines, a unit of Carnival
Corporation (NYSE: CCL), today took delivery of its new 2,040-passenger ship,
the Elation, from Finland's Kvaerner Masa-Yards during ceremonies in Helsinki.

The 70,000-gross-registered-ton $300 million vessel will make its maiden
cruise from Miami March 20 on a 15-day Panama Canal voyage to Los Angeles,
California. Following some pre-inaugural activities on the West Coast, the
Elation will inaugurate year-round, seven-day cruises from Los Angeles to the
Mexican Riviera. It will be the first new cruise ship ever to offer regular
service from Los Angeles.

The Elation, which was completed almost two weeks ahead of schedule, is also
the first cruise ship to feature the innovative electric azimuthing Azipod
propulsion which, unlike conventional systems, pulls a ship through the water
rather than pushes it. Azipod eliminates the need for traditional propeller
shafts, rudders and stern thrusters thus occupying less space on board. They
also make a ship easier to steer and maneuver and reduces propulsion noise and
vibration. It also provides fuel savings through improved hydrodynamic
efficiencies. According to Jukka Jaatinen, Kvaerner Masa's project manager,
"The change to Azipod propulsion is as significant as the change from the
paddle wheel to the propeller."

"We are extremely pleased with the Elation," said Carnival's President Bob
Dickinson. He pointed out that the early completion of the vessel meant that
Elation will make its trans-Atlantic delivery crossing to Miami without a
single shipyard worker aboard. "She is 100 percent completed and ready for
passengers today," Dickinson said.

Another Azipod-equipped ship is under construction for Carnival at the
shipyard. The MS Paradise is slated to be delivered early as well, according
to Martin Saarikangas, president of Kvaerner shipbuilding and chairman and CEO
of Kvaerner Masa-Yards. "Now that we have the experience of the first Azipod
installation on a cruise ship behind us, we will deliver the Paradise to
Carnival one month earlier than the contract date," Saarikangas said.

Dickinson said because of the early delivery, Carnival has added two special
cruises prior to the regular start-up of seven-day Caribbean cruises from
Miami December 6. A two-day cruise-to-nowhere will depart Miami on Wednesday,
November 25, followed by a three-day cruise to the Bahamas on Friday, November
27. The Paradise will be the world's first cruise ship to offer a completely
non-smoking environment.