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Costa Serena to be Inaugurated in Marseille

Maritime Activity Reports, Inc.

January 15, 2007

Costa Serena, will be inaugurated in Marseille on May 19, 2007. The inaugural festivities will be held on May 19 in the port of Marseille and will include an official ceremony in accordance with maritime tradition, as well as an inaugural show, in accordance with Costa's grand tradition of inaugural events. The Costa Serena (112,000 gross tons with a total guest capacity of 3,780) is the twelfth member of the Costa fleet, Europe's largest and most advanced, and is currently under construction at Fincantieri's Genoa- Sestri Ponente shipyard. The ship is due to enter service at the end of May. The announcement was also accompanied by news confirming Costa's encouraging operating performance. Costa carried a total of 880,000 passengers in 2006, compared to 870,000 in 2005; the passenger/days rose to 6,900,000, while the ship occupancy rate increased by 2% to reach 107%.

Like her sister ship, the Costa Concordia, which was inaugurated in Italy in July 2006, the Costa Serena will be the largest vessel flying the Italian flag. She will be 112,000 gross tons and 290 meters in length, and feature 1,500 cabins with a total guest capacity of 3,780. Currently under construction at Fincantieri's shipyard in Genoa Sestri Ponente (Italy), the Costa Serena is due to enter service at the end of May 2007. In addition to the Costa Serena, Costa has commissioned 3 more ships - all from Fincantieri - which will enhance its fleet, Europe's largest and most advanced. Costa's fleet currently comprises 11 ships with a total capacity of approximately 20,500 lower berths in double occupancy cabins. The Sestri Ponente yard will build a third sister ship to the Costa Concordia and Costa Serena, whose name is yet to be announced, due for delivery in summer 2009. Meanwhile, two 92,700-ton sister ships will be built in Marghera, one due to enter service in Spring 2009 and the other in March 2010. These 4 new orders amount to a total investment of almost 2 billion euros by Costa Crociere, as part of a fleet expansion and upgrading program worth almost 4.5 billion euros, which began in 2000. By 2010, when the last of the new-builds is delivered, the Costa fleet will be 15 strong and have total capacity of over 30,800 passengers.

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