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Wednesday, December 14, 2005
FINCANTIERI: AGREEMENT WITH CARNIVAL FOR SIX –SHIP DEAL WORTH OVER 3 BILLION DOLLARS
Fincantieri and Carnival Corporation & plc have reached an agreement to build six ships, two of which options, for four of the Group’s brands.

The agreement, including options, is worth over 3 billion dollars to the owner and comprises the construction of:

• for Holland America Line, at Marghera shipyard, a 86,000-ton vessel with a passenger capacity of 2,044, the largest ever built for the brand, expected to enter service in summer 2008. There is also an option for a sister ship scheduled to debut in spring 2010;
• for Princess Cruises, at Monfalcone shipyard, a 116,000-ton vessel with a passenger capacity of 3,100, set to debut in autumn 2008. This is a sister ship of the “Emerald Princess”, currently under construction at the same shipyard;
• for Carnival Cruise Lines, again at Monfalcone shipyard, a 130,000-ton vessel with a passenger capacity of 3,608, expected to enter service in autumn 2009. There is also an option for a sister ship scheduled to debut in summer 2010;
• for Costa Crociere, at Sestri Ponente shipyard, a 112,000-ton vessel with a passenger capacity of 3,004, expected to debut in summer 2009. This is a sister ship of the “Costa Concordia”, currently under construction at the same shipyard.

Micky Arison, Chairman and Chief Executive Officer of Carnival Corporation commenting on the order, said: “Fincantieri constructs some of the world’s most beautiful and technically advanced ships and this agreement enables us to expand our core North American and European brands at very competitive prices considering today’s unfavorable U.S. dollar/euro ratio,” he said.


Giuseppe Bono, Chief Executive Officer of Fincantieri, commented: “The agreement between our company and Carnival demonstrates the excellent working relationship that exists between the two Groups. We are delighted that Carnival, which operates some of the world’s most successful and recognizable cruise brands has entrusted us with nearly all of its newbuilding projects. This has enabled us to further strengthen our world leadership in the cruise sector and achieve a market share which today stands at approximately 55%“. Mr Bono went on to add: “Fincantieri’s economic results continue to be positive, the balance sheet reports profit and the Group’s assets and financial standing are sound and debt free ”.

Since the early 1990s Fincantieri has built 33 ships for brands in Carnival Group, amounting to over 11 billion dollars. This agreement takes the number of ships in order Fincantieri’s order book for Carnival to 13, worth overall approximately 7 billion dollars.

With 12 brands and 79 ships currently in service, Carnival is the cruise industry’s world leader.