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Notification of Transaction of Director / PDMRS

MIAMI (November 25, 2010) – Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) was notified on November 24, 2010 that on that date Arnold W. Donald, a member of Carnival Corporation & plc’s boards of directors, exercised 6,000 options to purchase shares of Carnival Corporation common stock (“Shares”) at US$25.915 per Share and sold 6,000 Shares on the New York Stock Exchange at a price of US$41.99 per Share. Following this transaction, Mr. Arnold continues to hold directly or indirectly 13,355 Shares and 38,000 options to acquire Shares.

This notification relates to disclosures made in accordance with Rule 3.1.4(R)(1)(a) of the Disclosure Rules and Transparency Rules.

Further details and a copy of the Forms 4, Statement of Changes in Beneficial Ownership of Securities, to be filed 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.

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