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Notification of Transaction of Director/PDMRS

MIAMI (November 5, 2010) – Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) was notified on November 4, 2010 that on that date Dr. Modesto A. Maidique, a member of Carnival Corporation & plc’s boards of directors, exercised 4,800 options to purchase shares of Carnival Corporation common stock (“Shares”) at US$27.875 per Share and sold 4,800 Shares on the New York Stock Exchange at an average price of US$44.50 per Share. Following this transaction, Dr. Maidique continues to hold directly or indirectly 20,186 Shares and 36,000 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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