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Fincantieri to Build Two Prototype Ships for Princess Cruises

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Following last December’s order, the only one in the world in 2009 and after a standstill of almost two years, Carnival once again chooses Fincantieri for its ships for the future

Fincantieri and the US cruise group Carnival Corporation & plc have reached an agreement to build two prototype ships for Princess Cruises.

The agreement is subject to the execution of a definitive contract, financing and other customary closing conditions.

At 139,000 gross tonnes and with a passenger capacity of 3,600, the new ships will take up service in Spring 2013 and 2014 and will be the largest built to date for Princess Cruises fleet.

Commenting on the agreement Giuseppe Bono, Chief Executive Officer of Fincantieri, said: ”This important agreement is a source of pride and optimism for us. Proof that we are increasingly world leader even in this time of crisis, having gained the only order for a cruise ship in 2009 - also from Carnival Group - and now this agreement for two prototype vessels for Carnival’s prestige brand Princess Cruises”. Mr. Bono went on to add: “Since these are prototypes we hope that in the years to come they will be followed by a substantial number of ships of the same “family”. I am confident that we will once again be supported by all the stakeholders in our “national system”. I would like to take this opportunity to thank Micky Arison, Chairman and CEO of Carnival Corporation, and Pierluigi Foschi, Chairman and CEO of Carnival’s Costa Crociere, world leader in the European cruise market, an Italian company whose ships are built by Fincantieri and fly the Italian flag”. Mr. Bono concluded: “Last but not least I am convinced that Fincantieri, by consolidating its world leadership in the sector, will succeed in overcoming the crisis and be even stronger than before ”.

Since 1990 Fincantieri, world leader in the sector, has built 52 cruise ships, of which 48 for different brands in Carnival Group. Without taking into consideration today’s agreement, Fincantieri will build a further 11 vessels between today and 2012 (of which 7 for Carnival Group).

Carnival Corporation & plc is the largest cruise vacation group in the world, listed on the Stock Exchanges of London and New York, the only group in the world included in both the S&P 500 and FTSE 100 indices. The Group has a portfolio of prestige brands as Costa Crociere, Holland America Line, Princess Cruises, P&O Cruises, Cunard, Carnival Cruise Lines whose ships are customarily built by Fincantieri. The Group operates a fleet of 95 vessels, due to rise to 106 when it takes delivery of a further 11 ships between March 2010 and May 2012.

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