Carnival Reports Financial Impact of Hurricane Jeanne

Tuesday, September 28, 2004
Carnival Corporation & plc announced that it estimates the financial impact of Hurricane Jeanne on its fourth quarter earnings will be approximately $0.02 per share. This is in addition to a previously announced impact of $0.03 to $0.04 per share as a result of Hurricanes Frances and other hurricanes earlier this month. Like Hurricane Frances, Hurricane Jeanne closed several south and central Florida ports, forcing Carnival to shorten the itineraries for six of its brands’ cruises – four for Carnival Cruise Lines and one each for Holland America Line and Princess Cruises. Guests on abbreviated cruises had the option of sailing and receiving partial refunds and shipboard credits, or canceling and receiving full refunds or future cruise credits. Carnival’s P&O Cruises Australia unit is also reviewing the impact of the closure of the Freeport, Bahamas, dry-dock facility where one of its ships was undergoing an extensive refurbishment. The aforementioned $0.02 per share impact includes the expected cancellation of two more P&O Cruises Australia voyages in addition to the one previously cancelled as a result of Hurricane Frances. Carnival Corporation & plc also incurred incidental costs to transport passengers to alternate ports of embarkation/debarkation. “In terms of weather, the past few weeks have been the most challenging in our company’s history, with four different hurricanes hitting Florida and two of those causing major disruptions to our operations,” said Howard Frank, vice chairman and chief operating officer for Carnival Corporation & plc. “We would like to thank our guests for their patience, cooperation and understanding during this period and commend our employees, both shipboard and shoreside, who continue to deliver quality vacations to our guests despite very challenging circumstances,” he added.

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