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Pimentel Steps Down From Top Post At Cunard Line

Maritime Activity Reports, Inc.

February 8, 2001

Carnival Corp. announced the resignation of Larry Pimentel, president and CEO of its Cunard Line Limited unit. Pamela Conover, COO of Cunard, has been given the additional title of president and will replace Pimentel as head of the luxury cruise operator. Both management changes are effective immediately.

Pimentel has served at the helm of Cunard Line, which is comprised of both the Cunard and Seabourn cruise brands, since 1998, when the Miami-based combined entity was formed, following Carnival Corp.'s acquisition of Cunard. Prior to that he spent six years as president and COO of Seabourn Cruise Line, formerly based in San Francisco. Pimentel resigned for personal reasons, citing a desire to spend more time with his family.

"It is with great difficulty that I have made the decision to step down from my current post. My years at Seabourn and Cunard have been extremely rewarding. However, from a personal perspective, this is the right decision for me and my family," said Pimentel.

Pimentel is reportedly in discussions with Carnival Corp. regarding a consultative role in connection with certain corporate-wide business initiatives.

Conover, who has served as COO of Cunard Line Limited since 1998, will replace Pimentel as president, while also retaining her COO title. Prior to 1998, Conover was vice president of strategic planning for Carnival Corporation and played a key role in the acquisition of Cunard by Carnival Corp., as well as Carnival's 1997 acquisition of Costa Cruises.

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