Holland America Contracts for Two New 84,000-Ton Vessels February 10, 2000 SEATTLE, Feb. 10 -- Holland America Line, a unit of Carnival Corporation (NYSE: CCL), has signed agreements with Italian shipyard Fincantieri Cantieri Navali S.p.A. for the construction of two new 84,000-ton vessels expected to enter service in 2003 and 2004. The new 1,800-passenger ships will cost approximately US $400 million each and will be constructed at Fincantieri's Marghera shipyard. The ships represent the third and fourth in a new series of vessels for premium cruise line Holland America, which also has options with Fincantieri for one more 84,000-ton sister ship. Like their sister ships, the new 84,000-ton vessels will feature "exterior elevators," which are located on both the port and starboard side of the vessel and will vertically transverse 10 decks to provide guests with panoramic sea views. The ships will also include a wide range of accommodation categories within its spacious staterooms, approximately 85 percent of which will feature an ocean view, with approximately 80 percent of those offering private verandahs. "We're pleased to continue this class of vessel, which will offer a variety of on-board amenities, including a large percentage of verandah staterooms, to meet the demands of today's discriminating vacationers," said Kirk Lanterman, chairman and CEO of Holland America Line. The 951-foot-long ships will build upon the hallmarks of the Holland America brand, displaying extensive multi-million-dollar art collections and including myriad dining options, from elegant full-service meals to casual Lido-area service. The ships will also offer expanded spa facilities and a "cabaret-style" show lounge complementing a multi-level main show lounge. Other features include an Internet cafe, business center and computer learning facility, Internet/e-mail data ports in all staterooms, an extensive CLUB HAL children's facility with inside and outside areas, and a concierge lounge for suite guests. Two interior promenade decks, an exterior covered promenade deck encircling the entire ship, a large Lido-area pool with a retractable dome, and Holland America's signature "crow's nest" observation lounge will be featured, as well. The new vessels will include a unique propulsion system that includes a full-scale diesel-electric power plant, backed up by a gas turbine as an additional power source. The vessels will be able to operate on either diesel or gas turbine power. "There are advantages to both systems and we think this approach will allow us to take advantage of the best attributes that each of these technologies currently offer," Lanterman said. Lanterman noted that the ships will also use the Azipod propulsion system, allowing for greater maneuverability and enhanced operating efficiencies. Earlier this week Carnival Corporation announced that it was working with Finnish diesel engine manufacturer Wartsila, NSD to develop a smokeless diesel-electric propulsion system for its future newbuilds. Together with the two new Holland America ships, Carnival Corporation now has 13 vessels with an estimated value of $5.1 billion scheduled for delivery over the next four years. In addition to the four 84,000-ton ships, Holland America has two other ships on order from Fincantieri, including the 63,000-ton Zaandam, scheduled to enter service in May, and the 61,000-ton Amsterdam, which is slated to debut this fall. "Fincantieri is proud to continue a tradition begun with the Statendam in 1993," said Corrado Antonini, chairman of Fincantieri. "We are very much looking forward to working with Holland America in the construction of these state-of-the-art cruise ships, which will be wonderful additions to the Holland America fleet." Carnival Corporation unit Carnival Cruise Lines also has six new ships on order, including three 102,000-ton "Destiny-class" ships and three 84,000-ton "Spirit-class" ships, scheduled to enter service between now and 2003. Also on order for Costa Cruises, another Carnival Corporation- affiliated line, is the 2,112-passenger Costa Atlantica, which is slated to debut in late spring 2000. "Carnival's growth has been driven primarily by the expansion of our core brands through our aggressive newbuilding program," said Micky Arison, Carnival Corporation chairman and CEO. "These two new vessels bring our total to 13, which will allow us to further bolster our leadership position in the cruise industry." With a current fleet of nine ships, Holland America covers the world with its premium cruises. Holland America cruises feature a "Tradition of Excellence," including spacious staterooms, superb dining, renowned service, first-rate entertainment, the Club HAL children's program, complete fitness and spa center, and popular "tipping not required" policy. Holland America Line is a member of the exclusive World's Leading Cruise Lines alliance, which also includes Carnival Cruise Lines, Cunard Line, Seabourn Cruise Line, Costa Cruises, and Windstar Cruises. Combined, the World's Leading Cruise Lines various brands operate 45 ships in the Caribbean, Alaska, Europe and other worldwide destinations. Together, these member lines share a commitment to quality and value, offering cruise vacations that appeal to the widest range of lifestyles. Consistently ranking among the world's top cruise lines, Holland America leads the cruise industry premium niche. Additional information can be obtained via Holland America's Web site at www.hollandamerica.com or Carnival Corporation's Web site at www.carnivalcorp.com. CONTACT: Erik Elvejord or Julianne Chase of Holland America Line, 800-637-5029, or 206-281-3535; or Tim Gallagher of Carnival Corporation, 305-599-2600, ext. 16000. .