Carnival’s Arison is ‘Delighted’ About Merger Decision Delay

Friday, February 15, 2002
Micky Arison, the Chairman and Chief Executive of Carnival, commented on the result of the P&O Princess EGM, stating: "We are delighted with the adjournment of the P&O Princess EGM. We are committed to giving P&O Princess shareholders the opportunity to accept our increased offer and we will focus all our efforts on securing regulatory clearance. We believe that shareholders have effectively asked to maintain the adjournment until the regulatory processes for both Carnival and Royal Caribbean have been completed; we trust the Chairman will respect that mandate. We would like to thank the P&O Princess shareholders for their support throughout this process, and look forward to welcoming them as shareholders of the enlarged Carnival group in the future." Royal Caribbean Cruises Ltd.

Shareholders have vote to adjourn Extraordinary General Meeting. Royal Caribbean's shareholders, convening today at an Extraordinary General Meeting in Miami to vote on a proposed merger with P&O Princess, decided to adjourn the meeting. Their action was taken in light of the vote yesterday by P&O Princess's shareholders to adjourn P&O Princess's own EGM in London. Richard Fain, chairman and chief executive officer of Royal Caribbean, said: "We are obviously disappointed at the outcome of these meetings. However, we have to acknowledge that a shareholders' vote is a democratic process, and naturally we respect the decision that has been reached at the P&O Princess meeting. Now we will need to consult with our advisors to determine the implication of the votes and their impact on the merger."

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