MIAMI, Jan. 27 -- Carnival Corporation (NYSE: CCL) today
confirmed that it has indicated to Kristian Siem, chairman of NCL Holding ASA,
that if the board can deliver a controlling interest in NCL, Carnival is
willing to pay NOK 40 per share subject to customary terms and closing
conditions including clearance of Hart-Scott-Rodino.

According to Howard Frank, vice chairman and chief operating officer of
Carnival Corporation, Siem has indicated that, based on the facts as they
exist today, he would recommend acceptance of the Carnival offer to the NCL
board. "If we are successful, we believe that the transaction, which
represents a 19% increase to the enterprise value of our previous bid, is
still attractive and in Carnival's and NCL's best interest," Frank said.

Carnival Corporation is comprised of Carnival Cruise Lines, the world's
largest cruise line based on passengers carried, Holland America Line,
Windstar Cruises, Cunard Line Limited, which operates the Cunard and Seabourn
cruise brands, and interests in Costa Cruises and Airtours plc. Combined,
Carnival Corporation's various brands operate 45 ships in the Caribbean,
Alaska, Europe and other worldwide destinations.

Additional information can be obtained via Carnival Corporation's Web site
at
www.carnivalcorp.com

NOTE: Statements in this press release relating to matters that are not
historical facts are forward-looking statements. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors,
which may cause the actual results, performances or achievements of Carnival
Corporation to be materially different from any future results, performances
or achievements expressed or implied by such forward-looking statements. Such
factors include general economic and business conditions; increases in cruise
industry capacity and competition; changes in tax and other laws and
regulations affecting Carnival and other factors which are described in
further detail in Carnival's filings with the Securities and Exchange
Commission.