RC Receives Extension on Options for Radiance-Class Ships

Royal Caribbean Cruises Ltd. announced it has deferred options to purchase a fifth and sixth Radiance-class ship. The options involve ships scheduled for deliveries in 2005 and 2006.

Royal Caribbean and Meyer Werft shipyard, of Papenburg, Germany, builder of the Radiance-class ships, agreed to extend the options to September 19, 2003. Under the terms of the extension, Meyer Werft has the ability to terminate the options upon giving adequate advance notice to Royal Caribbean. Both options were to have expired on January 10, 2003. The Radiance-class ships are operated by the Royal Caribbean International brand. Radiance of the Seas entered service in March 2001; Brilliance of the Seas entered service in July 2002. The third and fourth Radiance-class ships are scheduled for delivery in 2003 and 2004, respectively.