<p><span style="font-family: arial, helvetica, clean, sans-serif; font-size: 13px; line-height: 15px;"> </span></p>
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: #181818; text-align: justify; padding: 0px;"><span style="font-size: small;">Princess Cruises, a unit of Carnival Corporation &amp; plc (NYSE/LSE: CCL;&nbsp;NYSE: CUK), today announced that contracts to build two 3,600-passenger ships have been finalized with&nbsp;</span><span class="xn-location" style="line-height: 1.22em;"><span style="font-size: small;">Italy</span></span><span style="font-size: small;">'s Fincantieri shipyard.</span></p>
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: #181818; text-align: justify; padding: 0px;"><span style="font-size: small;">The new ships &ndash; which each will have an all-in cost of approximately&nbsp;</span><span class="xn-money" style="line-height: 1.22em;"><span style="font-size: small;">euro 155,000</span></span><span style="font-size: small;">&nbsp;per lower berth &ndash; are scheduled to enter service in spring 2013 and spring 2014. &nbsp;At an estimated 141,000 tons, the as-yet-unnamed ships will be the largest in the Princess Cruises fleet.</span></p>
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: #181818; text-align: justify; padding: 0px;"><span style="font-size: small;">The ships' design will be evolutionary, in keeping with the themes of the line's newest vessels, but with some new features and innovations. &nbsp;For example, all outside cabins will feature balconies, bringing the percentage of balconies on the ships to 80 percent of all staterooms. &nbsp;</span></p>
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: #181818; text-align: justify; padding: 0px;"><span style="font-size: small;">The company's signature Piazza &ndash; the ship's central atrium featuring dining, entertainment and retail &ndash; will be expanded, as will the popular Sanctuary, spa, and restaurants.</span></p>
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: #181818; text-align: justify; padding: 0px;"><span style="font-size: small;">"We're pleased that in this challenging economic environment, the order for these new ships is a testament to the confidence in the growth potential of the Princess brand," said&nbsp;</span><span class="xn-person" style="line-height: 1.22em;"><span style="font-size: small;">Alan Buckelew</span></span><span style="font-size: small;">, president and CEO of Princess Cruises. &nbsp;"These new ships will include the features from our newest ships that have been so well received, and take them to the next level," he added.</span></p>
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: #181818; text-align: justify; padding: 0px;"><span class="xn-person" style="line-height: 1.22em;"><span style="font-size: small;">Giuseppe Bono</span></span><span style="font-size: small;">, chief executive officer of Fincantieri, said, "We are grateful to the Carnival Group for this further vote of confidence in Fincantieri. We are proud to have met the requirements of Princess Cruises, one of Carnival's most prestigious brands, with an innovative design both from a technical and architectural point of view."</span></p>
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: #181818; text-align: justify; padding: 0px;"><span style="font-size: small;">Bono continued, "This is a highly important order for us, especially as it comes in a period of economic crisis. We succeeded in securing these orders with assistance and support of the Italian export credit companies, in particular SACE S.p.A."</span></p>
<p style="margin-top: 0px; margin-right: 0px; margin-bottom: 1.25em; margin-left: 0px; line-height: 1.4em; font-size: 1em; display: block; color: #181818; text-align: justify; padding: 0px;"><span style="font-size: small;">Specific amenities and design elements for the new ships will be revealed over the coming months.</span></p>
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