8/1/2003

PRINCESS ANNOUNCES MEXICAN RIVIERA EXPANSION IN FALL 2004
Sister Ships Diamond Princess and Sapphire Princess to Sail on Two Distinct Itineraries -- from Long Beach and San Francisco

Princess will deploy two of its newest and most amenity-filled vessels to the Mexican Riviera trade in the fall of 2004, expanding its presence there not only with a seven-day itinerary out of Long Beach, but with an unprecedented 10-day route sailing roundtrip from San Francisco.
The twin 2,670-passenger ships Diamond Princess and Sapphire Princess will both ply the Mexican Riviera waters. Diamond Princess will offer passengers seven-day roundtrip cruises from her new home port of Long Beach, while Sapphire Princess will do brand-new 10-day cruises roundtrip from San Francisco, a first for Princess. Diamond Princess is set to debut in March 2004, while sister ship Sapphire Princess will debut in May 2004.

"These two new vessels are a new class of ship for Princess, and will become the newest and most amenity-filled ships to sail on the west coast," said Dean Brown, Princess' executive vice president of customer service and sales. "The 113,000-ton ships will build on our commitment to offering an unprecedented array of dining and entertainment options, all presented within a ‘small ship' atmosphere. Having both Diamond Princess and Sapphire Princess there creates an exciting new dimension to our Mexico cruise program."

For the first time, a Grand-class ship will sail a series of Mexican Riviera cruises roundtrip from San Francisco. Departing September 22 through November 11, 2004, six roundtrip sailings will be offered aboard Sapphire Princess and will feature a new itinerary including Catalina Island, San Diego, and the popular Mexican Riviera ports of Puerto Vallarta, Mazatlan and Cabo San Lucas.

Diamond Princess will feature seven-day roundtrip cruises from Long Beach, a new Southern California home port for Princess, with sailings departing between September 25, 2004 and April 23, 2005. Ports of call for the Saturday sailings are Puerto Vallarta, Mazatlan and Cabo San Lucas. A special 10-day New Year's sailing departing December 29 will also be offered, and will feature the ports of Cabo San Lucas, Acapulco, Ixtapa/Zihuatenejo, Puerto Vallarta and Mazatlan.

The largest and most innovative Princess vessels yet, Diamond Princess and Sapphire Princess represent the next generation of Personal Choice Cruising. The company's newest "gems" offer new high-tech features combined with classic Princess favorites, from the dazzling video screens of Club Fusion to the rich nautical memorabilia of the Wheelhouse Bar.

The ships offer many of the features passengers have come to enjoy aboard Princess' largest vessels, some with a new twist. For example, the vessels take their predecessors' trademark Skywalkers disco/lounge in the sky concept a step further with a larger room plus new 125-foot wide balcony that provides commanding views over the aft end of the ship -- perfect for stargazing, or an al fresco break from the action inside. Other popular features include multiple dining rooms and show lounges, a wedding chapel, Internet Café, Lotus Spa, a multi-room youth center, and Princess' trademark balcony staterooms, perfect for enjoying the warm breezes and spectacular sunsets of the Mexican Riviera.

Early booking fares for Diamond Princess sailings begin at $599 per and at $949 for Sapphire Princess sailings.

One of the best-known names in North American cruising, Princess Cruises is a global cruise and tour company. Part of Carnival Corporation and plc (NYSE: CCL and CUK), its current fleet of 11 ships sail on approximately 150 different itineraries around the globe, calling at more than 260 ports on all seven continents. By 2006 a further four ships will be introduced.