Carnival Cruise Line

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Company Overview
Carnival Corporation is a global cruise company with a portfolio of 12 distinct brands comprised of the leading cruise operators in both North America, Europe and Austrailia. The twelve cruise lines includes-Carnival Cruise Lines, Holland America Line, Princess Cruises, Seabourn Cruise Line, Windstar Cruises, AIDA Costa Cruises, Cunard Line, P&O Cruises, Ocean Village, Swan Hellenic, and P&O Cruises Australia . Together, these brands operate 79 ships totaling more than 137,000 lower berths with 12 new ships scheduled for delivery between January 2006 and April 2009. It also operates the leading tour companies in Alaska and the Canadian Yukon, Holland America Tours and Princess Tours. Headquarted in Miami, Florida, U.S.A., Carnival has more than 65,000 employees worldwide. On April 17, 2003, Carnival Corporation (NYSE: CCL) and P&O Princess Cruises plc (LSE: POC) merged via a dual listed company structure (DLC). Subsequently, P&O Princess Cruises plc has changed its name to Carnival plc. Carnival Corporation and Carnival plc function as a single economic entity through contractual agreements between two separate legal entities. Shareholders of both Carnival Corporation and Carnival plc have the same economic and voting interest but their shares are listed on different stock exchanges.

Issues
•Debt(do ratios)
•The price of fuel has risen in the past few year

Mission
Our mission is to deliver exceptional vacation experiences through the world's best-known cruise brands that cater to a variety of different lifestyles and budgets, all at an outstanding value unrivaled on land or at sea. Objectives

•Carnival Corp is determined to deliver exceptional vacation experiences to the world's best known cruise brands that cater to a variety of different lifestyles and budgets. •Committed to maintaining brand autonomy, with each major cruise line maintaining separate sales, marketing and reservation offices. Corporate Governance

Principal Officers and Directors
Carnival Corporation & plc
Principal Officers

Micky Arison
Chairman of the Board and Chief Executive Officer
Howard S. Frank
Vice Chairman of the Board and Chief Operating Officer
Gerald R. Cahill
Executive Vice President and Chief Financial and Accounting Officer Richard D. Ames
Senior Vice President, Management Advisory Services
Pamela C. Conover
Senior Vice President Shared Services
Ian J. Gaunt
Senior Vice President International
Arnaldo Perez
Senior Vice President, General Counsel and Secretary
AIDA CRUISES

Micahel Thamm
President
CARNIVAL CRUISE LINES

Robert H. Dickinson
President and Chief Executive Officer
COSTA CROCIERE S.p.A

Pier Luigi Foschi
Chairman of the Board and Chief Executive Officer
CUNARD LINE

Carol Marlow
President and Managing Director
HOLLAND AMERICA LINE

Stein Kruse
President and Chief Executive Officer
PRINCESS CRUISES

Alan Buckelew
President
P&O CRUISES AUSTRALIA

Gavin Smith
Managing Director
P&O CRUISES UK

David Dingle
Managing Director
P&O PRINCESS CRUISES INTERNATIONAL LIMITED

Peter Ratcliffe
Chief Executive Officer
SEABOURN CRUISELINE

Deborah Nathansohn
President
Board of Directors

Micky Arison

Chairman of the Board of Directors and Chief Executive Officer, Carnival Corporation & plc Richard G. Capen, Jr.

Former United States Ambassador to Spain, Corporate Director, Author and Business Consultant Robert H. Dickinson

President and Chief Executive Officer, Carnival Cruise Lines Arnold W. Donald

President and Chief Executive Officer, Juvenile Diabetes Research Foundation International Pier Luigi Foschi

Chairman and Chief Executive Officer, Costa Crociere, S.p.A. Howard S. Frank

Vice Chairman of the Board of Directors and Chief Operating Officer, Carnival Corporation & plc Richard J. Glasier

Former President and Chief Executive...
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