Director Shareholding

FOR IMMEDIATE RELEASE

                            DIRECTORS SHAREHOLDING                             

MIAMI (Aug. 28, 2003) - On Aug. 27, 2003, Carnival Corporation & plc (NYSE/LSE:
CCL; NYSE: CUK) was notified that on Aug. 27, 2003, Stuart Subotnick, a
non-executive member of Carnival Corporation & plc's boards of directors, had
disposed of 58,000 shares of Carnival Corporation common stock which he held
directly or indirectly at an average price of $34.4638 (USD).

Following the transaction, Subotnick owns 2,000 shares of Carnival Corporation
common stock.

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

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