Director/PDMR Shareholding

NOTIFICATION OF TRANSACTION OF DIRECTOR/PDMR                  

    MIAMI (November 17, 2006) - On November 16, 2006, Carnival Corporation & plc
(NYSE/LSE: CCL; NYSE: CUK) was notified that on November 16, 2006, Robert H.
Dickinson, President and Chief Executive Officer of Carnival Cruise Lines and a
member of Carnival Corporation & plc's boards of directors, exercised options
over 176,000 shares of Carnival Corporation common stock ("Shares") (80,000
Shares at US$33.035 per Share, 80,000 Shares at US$29.8125 per Share and 16,000
Shares at US$22.57 per Share). On November 16, 2006 he sold 175,000 Shares at
an average price of US$49.7722. On November 17, 2006 he sold 1,000 Shares at an
average price of US$49.716.

    In addition on November 16, 2006, Dickinson sold 13,000 Shares which he held
indirectly registered in the name of The Dickinson Foundation at an average
price of US$49.9551 per Share. Following these transactions, Dickinson
continues to hold directly or indirectly 264,000 Shares and options over
464,000 Shares.

    This notification relates to disclosures made in accordance with Disclosure
Rule 3.1.4(R)(1)(a) and Disclosure Rule 3.1.4(R)(1)(b), and in accordance with
section 324 of the Companies Act 1985.

    Further details and a copy of the Forms 4, Statement of Changes in Beneficial
Ownership of Securities, to be filed today by Dickinson with the U.S.
Securities & Exchange Commission, can be found at the SEC web site, www.sec.gov, 
and the Carnival Corporation & plc web site, www.carnivalcorp.com or 
www.carnivalplc.com.

MEDIA CONTACTS:                INVESTOR RELATIONS CONTACTS:
US                             US/UK
Carnival Corporation & plc     Carnival Corporation & plc
Tim Gallagher                  Beth Roberts
305 599 2600, ext. 16000       305 406 4832

UK
Brunswick Group
Sophie Fitton/Sarah Lindgreen
44 (0) 20 7404 5959

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