In Royal Caribbean Reports Record Results for 1997, moved earlier this
morning, we are advised by a representative of the company that the
CONSOLIDATED STATEMENTS OF OPERATIONS, Diluted Earnings Per Share: Income
Before Extraordinary Item, first row, should read "$0.26" not "$0.25" as
incorrectly transmitted.

CORRECTED BY PR NEWSWIRE AT 09:29 EST

MIAMI, Feb. 11 -- Royal Caribbean Cruises Ltd. (NYSE: RCL)
announced today a 27.1 percent increase in earnings, before an extraordinary
item and gains on ship sales, to a record $178.7 million in 1997 versus $140.6
million in 1996. On a diluted basis, this equates to $2.35 per share in 1997
versus $2.19 per share in 1996.

Net income for 1997 increased 16.1 percent to a record $175.1 million, or
$2.30 per share on a diluted basis, compared to $150.9 million, or $2.35 per
share for the prior year. Net income for 1997 includes an extraordinary loss
resulting from the early extinguishment of debt of $7.6 million, or $0.10 per
share on a diluted basis. The 1997 results also include a gain of $4.0
million from the sale of Sun Viking in the fourth quarter. The 1996 results
included a gain of $10.3 million from the sale of Song of Norway in the fourth
quarter.

Revenues increased 42.9 percent in 1997 to $1.94 billion compared to $1.36
billion in 1996. The increase in revenue was primarily driven by a 40.7
percent increase in capacity resulting from the merger with Celebrity Cruises
and additions to the Royal Caribbean International fleet as well as improved
revenue per available lower berth ("yield"). The yield improvement for the
year was a result of higher occupancy levels which were 104.2 percent in 1997
compared to 101.3 percent in 1996. Operating income for 1997 was up 39.9
percent to $303.6 million compared to $217.0 million in 1996.

"The results we achieved during 1997 represent the outstanding work and
dedication of the over 18,000 employees of Royal Caribbean International and
Celebrity Cruises," said Richard D. Fain, chairman & chief executive officer.
"This was an exciting year for the company, having acquired Celebrity Cruises
and successfully managed the integration of the brands which significantly
increased our overall capacity and improved revenue yields for the comparable
periods. This certainly reflects the fact that consumers, both in North
America and internationally, continue to recognize the value that our cruise
vacations offer."

Royal Caribbean is a global cruise company operating two cruise brands,
Royal Caribbean International and Celebrity Cruises. The brands combined
fleet consists of 16 cruise ships with a total capacity of 29,200 passengers.
Between 1998 and 2002, the company is scheduled to introduce seven new ships
with a total additional capacity of 17,100 passengers. The ships currently
visit Alaska, the Bahamas, Bermuda, Canada, the Caribbean, Europe, Hawaii,
Mexico, New England, the Panama Canal, Russia and Scandinavia For additional
information about Royal Caribbean, visit the line's Internet site on the World
Wide Web at (http://www.royalcaribbean.com). Celebrity Cruises also maintains
an extensive web site at
http://www.celebritycruises.com.

Certain statements in this news release are forward-looking statements. Such
forward-looking statements are not guarantees of future performance and
involve known and unknown risks, uncertainties and other factors, which may
cause the actual results, performances or achievements to differ materially
from the future results, performance or achievements expressed or implied in
such forward-looking statements. Such factors include general economic and
business conditions, changes in cruise industry competition, weather and other
factors which are described in further detail in Royal Caribbean's filings
with the Securities and Exchange Commission.

ROYAL CARIBBEAN CRUISES LTD.

CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(unaudited)

Fourth Quarter Ended Year Ended

December 3l, December 3l,

1997 1996 1997 1996

Revenues $528,408 $318,528 $1,939,007 $1,357,325

Expenses

Operating 350,581 210,407 1,219,268 854,478

Marketing, selling

and administrative 75,918 49,236 272,368 194,629

Depreciation and

amortization 43,299 23,325 143,816 91,185

469,798 282,968 1,635,452 1,140,292

Operating Income 58,610 35,560 303,555 217,033

Other Income (Expense)

Interest income 2,128 1,059 4,666 2,278

Interest expense, net of

capitalized interest (42,088) (20,557) (128,531) (76,540)

Other income (expense) 3,704 10,669 2,995 8,095

(36,256) (8,829) (120,870) 66,167

Income Before Extraordinary

Item $22,354 $26,731 $182,685 $150,866

Extraordinary Item -- -- (7,558) --

Net Income $22,354 $26,731 $175,127 $150,866

Earnings Per Share Data:

Basic Earnings Per Share:

Income before extraordinary

item $0.24 $0.42 $2.44 $2.37

Extraordinary item -- -- (0.11) --

Net income $0.24 $0.42 $2.33 $2.37

Basic Weighted Average

Shares Outstanding 80,989,561 63,711,658 70,505,269 63,647,490

Diluted Earnings Per Share:

Income before extraordinary

item $0.25 $0.42 $2.40 $2.35

Extraordinary Item -- -- (0.10) --

Net income $0.26 $0.42 $2.30 $2.35

Diluted Weighted Average

Shares Outstanding 87,581,471 64,228,179 76,087,004 64,213,619

STATISTICS

Fourth Quarter Year to Date

1997 1996 1997 1996

Occupancy as a percentage

of total capacity 100.8% 98.3% 104.2% 101.3%

Passenger Cruise Days 2,615,286 1,514,736 8,759,651 6,055,068