Carnival Corporation Finalizes Contract For Cunard Line's Queen Mary 2
New 150,000-ton Liner To Be Largest Passenger Vessel Ever Constructed When it Enters Service in Late 2003

MIAMI, Nov. 6 /PRNewswire/ -- Carnival Corporation (NYSE: CCL - news) today announced it has finalized a contract with France's Alstom Chantiers de l'Atlantique shipyard for the construction of the Queen Mary 2, a new 150,000- ton ``liner-style'' vessel for its Cunard Line unit.

The largest ocean liner ever constructed, Queen Mary 2 will have a basis- two capacity of 2,620 and will be built at a cost of approximately $780 million (U.S.). Expected to enter service in late 2003, the Queen Mary 2 represents the first new ocean liner constructed in more than three decades.

At 1,132 feet long and 17 decks high, the vessel will stretch nearly four football fields in length with a height equal to a 23-story building. Queen Mary 2 will also have a beam of 135 feet, making it the longest and widest passenger ship ever constructed. Its unprecedented size provides for the widest variety of modern amenities and facilities aboard any ocean-going vessel.

``From the time we first considered purchasing Cunard Line, our plans always included building a new liner,'' said Micky Arison, Carnival Corporation chairman and CEO. ``Cunard's tremendous global brand equity was built by many famous liners and now it will be carried on by the Queen Mary 2,'' he added.

Nearly two years in the planning stages, Queen Mary 2 will be the most luxurious liner afloat and will set a new standard in seagoing vacations, with dramatic public spaces designed to evoke the style and elegance of the grand transatlantic era of ocean travel.

Commenting on the Queen Mary 2's place in history, Larry Pimentel, Cunard Line president and CEO, said, ``Cunard has been carrying people between Europe and America and around the world for more than 160 years. For the last six decades, there has always been a Cunard Queen on the sea. Queen Mary 2 will be the heir to all that has gone before and she will be a showcase of the art of shipbuilding in its most refined and masterful form. Queen Mary will carry the grace and elegance of a bygone era into the future.''

Among the ship's many highlights are multiple dining venues, including Cunard's traditional ``Grill Rooms,'' a 1,300-seat three-deck-high main restaurant and a casual poolside eatery, indoor and outdoor wrap-around promenades encircling several decks, a planetarium, a seven-classroom enrichment center and an art gallery exhibiting maritime paintings and memorabilia.

Five swimming pools -- including an indoor pool housed within the ship's expansive health and fitness facility -- along with a diversity of entertainment venues, ranging from intimate locales to a spectacular multi- deck show lounge, will be featured, as well.

Queen Mary 2 will have 1,310 staterooms, nearly three-quarters of which will feature a private balcony. More than 90 suites, including six penthouses offering private butler and concierge service, and five 1,650-square-foot ``duplex apartments,'' each featuring their own private gymnasium, are also available.

The vessel's numerous technological advancements will include a state-of- the-art MerMaid (TM) ``podded'' propulsion system comprised of two fixed and two rotating units allowing for easy maneuverability, along with a diesel and gas turbine power plant capable of creating 157,000 horsepower, which will enable the ship to sail at 30 knots, significantly faster than other cruise ships.

``Cunard is synonymous with luxury cruising and the Queen Mary 2 -- with its elegant public areas, modern amenities and spacious, well-appointed accommodations -- will usher in a new era in ocean travel while providing Carnival Corporation a unique opportunity to build upon the line's rich and storied tradition,'' Arison said.

Including the Queen Mary 2, Carnival Corporation currently has 16 new vessels with an estimated value of $7 billion scheduled for delivery over the next five years. Included in the company's order book are seven vessels for its Carnival Cruise Lines unit five for Holland America Line and three for Costa Crociere.

Carnival Corporation is comprised of Carnival Cruise Lines, the world's largest cruise line based on passengers carried, Holland America Line, Windstar Cruises, Cunard Line, Seabourn Cruise Line, and Costa Cruises. Combined, Carnival Corporation's various brands operate 48 ships in the Caribbean, Alaska, Europe and other worldwide destinations.

Additional information can be obtained via Carnival Corporation's Web site at http://www.carnivalcorp.com or Cunard Line's at http://www.cunardline.com.

SOURCE: Carnival Corporation

Here is another source:

ALSTOM, through its subsidiary Chantiers de l'Atlantique, has just received confirmation of the order for the transatlantic ocean liner, Queen Mary 2, from Carnival Corporation. The ship will be built for its subsidiary, Cunard Line.

Following a Letter of Intent signed on 9 March 2000, this order will lead to the construction of the largest passenger vessel ever built. At approximately 150,000 tonnes, the vessel will measure 345 metres in length, 41 metres in breadth, and 72 metres in height, with a total of fifteen decks. The height of the ship above water will be 62 metres, equivalent to a 23-floor building. Queen Mary 2 will accommodate over
2620 passengers and 1250 crew.

The unique design of this ship is inspired by the prestigious tradition of transatlantic cruise ships, combined with the latest technological innovations ( one of the last ships in this class, France, delivered in 1962, was also built by Chantiers de l'Atlantique).

The power generation system is ensured by two gas turbines and four Diesel engines providing a total output of 118 megawatts. More than two thirds of this energy is used to power the four MerMaid(TM)* propulsion systems (the largest of ever built), enabling the liner to reach speeds of around 30 knots (over 50 km/ 30 miles per hour) with a minimum of noise and vibration.

The passengers will benefit from a ball-room, as well as five swimming pools, three of which will be situated on intermediate decks. ALSTOM will innovate its design to include five luxury duplex suites.

Queen Mary 2 will be built by ALSTOM at Saint-Nazaire (France) with delivery scheduled for the end of 2003. The design and construction of the vessel will be implemented to ensure compliance with the highest environmental standards.

* Electrical outboard engines providing propulsion and steering for the ship. These bulb-shaped engines, two of which can be turned 360 degrees, significantly enhance manoeuvrability.

From: NYSE Business Report

Also see the BBC's coverage: http://news.bbc.co.uk/hi/english/business/newsid_1009000/1009717.stm

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capacity of 2,620

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