FUEL SUPPLEMENT SUSPENSION

December 4, 2008

As fuel prices continue to decline, Carnival has announced that it will suspend the fuel supplement for all voyages departing on or after December 17, 2008.

Effective December 4, 2008, for all new bookings on cruises departing on or after December 17, 2008, the fuel supplement will not be charged.

For all existing bookings made prior to December 4, 2008 for cruises departing on or after December 17, 2008, the fuel supplement will be refunded. The refund of the fuel supplement will be made in the form of a shipboard credit for all bookings within the final payment period. All bookings outside of the final payment period will be adjusted to remove the fuel supplement and guests will be provided with a revised final payment amount.

Carnival reserves the right to re-instate the fuel supplement for all guests at up to $9 per person per day should the price of light sweet crude oil according to the NYMEX (New York Mercantile Exchange Index) increase above $70 per barrel.

We are hopeful that fuel prices have stabilized and will remain at a more rational level. The suspension of the fuel supplement will make our cruise vacations even more affordable and enhance the value of a Carnival cruise. In this tough economic environment, we are pleased to be able to offer our guests a great cruise vacation at an even more affordable price.