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First Building Block Laid for Carnival Valor

Maritime Activity Reports, Inc.

July 10, 2003

Just two weeks after delivering Carnival Cruise Lines' new 110,000-ton Carnival Glory, Italian shipbuilder Fincantieri laid the first in a series of approximately 50 building blocks for a sister ship, Carnival Valor. The new 2,974-passenger Carnival Valor, which is being constructed at Fincantieri's Monfalcone shipyard, is expected to enter service in December 2004. Carnival Glory arrives in Port Canaveral, Fla., tomorrow, July 11, and will make its maiden voyage Monday, July 14, becoming the largest "Fun Ship" ever to operate from that port. "With its dramatic interiors and outstanding on-board facilities and features, Carnival Glory is a stunning expression of the 'Fun Ship' vacation experience and a testament to Fincantieri's exceptional craftsmanship and shipbuilding expertise. We're certain that this tradition of excellence will continue with the launch of the new Carnival Valor," said Bob Dickinson, Carnival president and CEO. Today's massive cruise ships are constructed using a modular method in which giant blocks of the hull and superstructure - some of which measure four decks high and can weigh upwards of 600 tons - are assembled via crane piece by piece, much like a jigsaw puzzle. The 952-foot-long Carnival Valor will feature 22 lounges and bars, and four restaurants, including two two-deck-high formal restaurants, a two-level casual poolside eatery and an upscale supper club. Its 13 decks will also house four swimming pools - one with a 214-foot-long waterslide - along with a 13,300-square-foot health club, an on-board duty-free shopping mall, an 11-deck-high glass-covered atrium, and expansive children's and teen facilities. The laying of Carnival Valor's first "maxi-block" represents the latest chapter of Carnival Cruise Lines' ongoing relationship with Fincantieri, which has delivered or is under contract for seven 100,000-plus-ton Carnival "Fun Ships" dating back to Carnival Destiny in 1996. The itinerary for Carnival Valor will be announced at a later date.

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