MIAMI, Jan. 3 -- Carnival Cruise Lines, a unit of Carnival
Corporation (NYSE: CCL), today announced that it has exercised an option with
Kvaerner MasaYards of Helsinki, Finland, for the construction of a new 84,000-
ton ship expected to be delivered in 2002.

The 2,112-passenger vessel, to be named Carnival Legend, will cost
approximately $375 million. It will be a sister ship to the Carnival Spirit
and Carnival Pride, both currently under construction at Kvaerner Masa and
expected to enter service in early and late 2001, respectively.

"The Spirit-class combines the best features of Carnival's current fleet
with a number of new elements to create what is truly an exceptional ship
design -- one we anticipate will be extremely successful for the Carnival
brand," said Bob Dickinson, president of Carnival Cruise Lines.

The 960-foot-long Carnival Legend will feature 12 passenger decks housing a
wedding chapel, conference center, two-level fitness facility, expansive
children's center and a multitude of bars, lounges and public areas for
dining, activities and entertainment. A variety of stateroom accommodation
categories will include several levels of suites. Eighty percent of the
Spirit-class ships' staterooms will offer ocean views with 87 percent of those
featuring private balconies.

In addition to the three Spirit-class ships, Carnival Cruise Lines has three
new 102,000-ton Destiny class ships scheduled to enter service over the next
four years, including the Carnival Victory, expected to enter service Aug. 31,
2000, and the Carnival Conquest and Carnival Glory, slated to debut in 2002
and 2003, respectively.

Carnival Corporation unit Holland America Line has four vessels on order,
including the 1,440-passenger Zaandam, scheduled for delivery in early 2000,
the 1,380-passenger Amsterdam expected to debut in late 2000, and two 84,000-
ton vessels expected to enter service in 2002 and 2003. Also on order for
Costa Cruises, another Carnival Corporation-affiliated cruise line, is the
2,112-passenger Costa Atlantica, which is scheduled to debut in late spring
2000.

Collectively, these 11 vessels have an estimated value of nearly $4.3
billion. 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
and Carnival Cruise Lines' Web site at
www.carnival.com.