NCL Announces Temporary Withdrawal of Pride of Hawai`i

NCL Corporation announced the temporary withdrawal of Pride of Hawai`i from the Hawai`i market effective February 2008. The ship will be deployed to Europe for the summer of 2008 as part of the Norwegian Cruise Line fleet. NCL's substantial 2006 losses, reported in February of this year, have been caused by downward pricing pressure in the Hawai`i market following the addition of Pride of Hawai`i to the fleet last summer, and the steep increase in the amount of foreign flag competition entering the Hawai`i market from the west coast.

According to Colin Veitch, NCL Corporation's president and CEO, NCL America has grown very quickly over three years, and its competitors have also surged, starting in 2006, offering almost 80 percent additional capacity days on top of NCL America's in 2007.