P&O Princess Chief to Retire!

P&O Princess Chief Advises Carnival Corporation & plc of Retirement Plans

David Dingle and Alan Buckelew Promoted to Top Posts

Peter Ratcliffe, CEO of P&O Princess Cruises International, has informed Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) that he will retire effective March 6, 2008.

Effective immediately, David Dingle has been promoted to CEO of Carnival UK with responsibility for the company’s British brands — P&O Cruises, Ocean Village and Cunard Line. He also has been appointed chairman of the Carnival plc Management Committee with responsibility for P&O Cruises Australia. Alan Buckelew has been promoted to president and CEO of Princess Cruises, also effective immediately.

“It has always been a goal of mine to retire at age 60 and in this case, the effective date is actually my 60th birthday,” said Ratcliffe. “I’ve had a tremendously rewarding career in this industry and know that I leave the future of my cherished brands in the most capable hands of David and Alan,” he added.

“Peter has only been a part of our organization since the merger of our companies in the spring of 2003 but I can’t say enough about all he has done to contribute to our post-merger success,” said Micky Arison, chairman and CEO of Carnival Corporation & plc. Arison said that not only was Ratcliffe “instrumental in getting the deal done in the first place, but once that was complete, he was key to the successful integration of the two companies, as well.”