MIAMI, Feb. 19 -- Royal Caribbean International announced today
that a fire broke out this morning on a vessel being built for delivery to the
cruise line. The fire has been extinguished and damage assessment is now under
way at the construction site. The vessel will be the first of the cruise
line's Project Eagle series now under construction at Kvaerner Masa- Yards,
Turku, Finland.

The fire broke out about 8:00 AM EST in an aft storage area on Deck One of
the construction project. The fire's cause is under investigation. The fire
was confined to the vertical fire zone and was quickly brought under control.
It was totally extinguished in about three and a half hours. According to yard
executives, damage to the vessel is primarily limited to storage and crew
areas in the aft portion of the vessel.

Damage to the vessel is the responsibility of the shipyard, which carries
insurance for this purpose. The ship is scheduled to have its maiden voyage on
November 21, 1999. The company is not able to ascertain whether this date
will be impacted by the fire but Royal Caribbean carries delayed delivery
insurance to protect lost income in the event the vessel is delayed. Based on
information available at this time, the company does not believe there will be
any material financial impact because of the fire.

Royal Caribbean Cruises Ltd., is a global cruise company operating two
cruise brands, Royal Caribbean International and Celebrity Cruises. The
brands' combined fleet consists of 17 vessels in service and seven ships on
order. The ships currently visit Alaska, the Bahamas, Bermuda, Canada, the
Caribbean, Europe, the Far East, Hawaii, Mexico, New England, the Panama Canal
and Scandinavia. For additional information, visit the company's Internet
sites at
www.royalcaribbean.com,
www.celebrity-cruises.com
or
www.rclinvestor.com.