MIAMI (1/30/97) -- Carnival Corporation (NYSE:CCL) today announced that it reached an agreement with the Italian shipyard Fincantieri Cantieri Navali Italiani S.p.A. for the construction of a cruise ship at a cost of approximately $430 million for its Carnival Cruise Lines unit. The ship, to be delivered in the summer of 2000, will be a sister to the recently launched 101,353-gross-registered-ton Carnival Destiny, the largest passenger vessel ever constructed. It will be the third vessel in Carnival's Destiny-class; the Carnival Triumph is already under construction at Fincantieri and is expected to be delivered in 1999.

Bob Dickinson, president of Carnival Cruise Lines, said it didn't take long for the company to decide that it wanted a third Destiny-class vessel. "The Carnival Destiny only began service two months ago and we knew within the first week of operation that we had a tremendous hit on our hands." Dickinson said that bookings for Carnival Destiny have been excellent. Approximately 36 percent of her accommodations feature private verandas and those are proving to be extremely popular. "Both travel agent and consumer reaction have been outstanding. The ship is enjoying high occupancies and rave reviews from her guests," he said.

Among other unique features of the Carnival Destiny are a nine-deck-high atrium, two double-decked dining rooms, four swimming pools - two with swim-up bars, a 214-foot long water slide, a three-deck-high showroom, alternative dining including Italian and Asian specialties and a 24-hour pizzeria.

For Fincantieri, the contract marks a continuation of its strong association with Carnival Corporation. In addition to the three Carnival Destiny-class vessels, Fincantieri has already delivered four 55,000-gross-registered-ton cruise ships to the corporation's Holland America Line unit. It has three more ships under construction for Holland America. The first of those, the 65,000-gross-registered-ton Rotterdam VI, is scheduled to be delivered this fall. "We are thrilled to be continuing our work for Carnival Cruise Lines," said Fincantieri Chairman Corrado Antonini. "The introduction of the Carnival Destiny last fall achieved tremendous worldwide publicity. Fincantieri is proud to be its builder and to be a part of such a significant milestone in maritime history," Antonini said.

Carnival Corporation is comprised of Carnival Cruise Lines, the world's largest cruise line based on passengers carried, Holland America Line, Windstar Cruises and Seabourn Cruise Line, which combined operate 25 ships in the Caribbean, Alaska and other worldwide destinations. Combined, Carnival Cruise Lines and Holland America Line have seven new ships slated for delivery over the next three years. The Carnival Triumph is scheduled to enter service in 1999 and another in 2000. Carnival also has two 70,000-ton SuperLiners, the MS Elation and MS Paradise, under construction and expected to debut in February and November 1998, respectively. Holland America Line also has three new ships on order, including the 62,000-ton Rotterdam VI, scheduled to enter service in the fall of 1997, and two 65,000-ton cruise ships expected to debut in 1999. Carnival recently finalized a joint venture with Hyundai Merchant Marine to form an Asian-based cruise line. The new venture is scheduled to begin cruise operations in the Far East in the spring of 1998. ###

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