America's Largest Cruise Line Considering Corporate Relocation to Sunrise, Florida.

Business Editors

CHICAGO--(BUSINESS WIRE)--Sept. 8, 2000

Financial Incentives and Strong Local Talent Pool

Attract American Classic Voyages

American Classic Voyages Co. (Nasdaq:AMCV) the largest owner and operator of U.S.-flagged cruise ships, today announced that the City of Sunrise, Broward County and the State of Florida are considering an economic incentive package that could total more than $4.2 million for the Company to relocate its Chicago corporate and New Orleans operations headquarters to Sunrise, Florida.

The State of Florida's Qualified Target Industries (QTI) program could provide more than $2.1 million in tax credits, in addition to approximately $500,000 in funds for job training. American Classic Voyages will also request funding under the State's High Impact Performance Incentive Program. Broward County would provide ten percent of the State QTI award in addition to $200,000 under its Job Growth Program. The City of Sunrise would provide ten percent of the QTI award in addition to matching the $200,000 County award. Sunrise has also proposed a $1.2 million cash grant to the Company when it moves into its new headquarters.

"The aggressive promotion by the Broward Alliance and the local incentives offered by Sunrise were major determining factors in our focus on Sunrise to build our new corporate headquarters," said Philip C. Calian, Chief Executive Officer of American Classic Voyages. "Our decision to seriously consider Sunrise as a place to consolidate our Chicago and New Orleans staffs is strongly influenced by the business atmosphere in the State of Florida, the sense of community that exists in Sunrise and in Broward County, the City's many amenities for our employees, and of course, by the total financial incentive package. Given this extraordinary level of participation by local government, with an appropriate level of participation by State government, our search will be over." American Classic Voyages has initiated discussion with developers to build an approximately 250,000 square foot building in Sunrise in which it would be the lead tenant.

Calian added, "Sunrise's central location in the tri-county (Miami-Dade, Broward and Palm Beach) area makes it an ideal location for attracting cruise industry employees."

Several major cities in California, Florida and Georgia were in competition and offered incentive packages to bring the corporate headquarters and 725 jobs to their areas.

Pat Salerno, Sunrise's City Manager, said, "We are pleased to have a company of American Classic Voyages' caliber relocate its national headquarters to Sunrise. We appreciate the assistance of the State, Broward County and the Broward Alliance in putting the incentive package together. This effort will hopefully bring another major cruise line headquarters to South Florida, and will help solidify the City's position as a center of business in South Florida."

Frank Schnidman, an attorney with Greenberg Traurig PA, whose practice includes economic incentive packaging and who helped negotiate the package said, "The ongoing intergovernmental coordination to put this package together and the size of the package made the difference in the negotiations to bring Sunrise to the top of the list of candidates. Sunrise was committed to bringing this company to its city and realized the economic benefits that would result from the relocation, and came up with a proposal that caught the Company's attention."

American Classic Voyages is the parent company to The Delta Queen Steamboat Co., American Hawaii Cruises, Delta Queen Coastal Voyages and United States Lines. The lines feature cruise vacations on the inland rivers and coastal waterways of The Americas, and throughout the Hawaiian Islands. The Company operates five vessels currently and will introduce three additional ships into service by August 2001. American Classic Voyages also has under construction the two largest cruise ships ever built in an American shipyard, which will enter service in Hawaii in 2003 and 2004, and two ships under construction in Jacksonville, Florida that will be delivered in March and June 2001 to operate initially along the Eastern Seaboard, Great Lakes, Caribbean and Central America.

For more information, visit www.amcv.com

Note: Statements in this press release relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performances or achievements of American Classic Voyages Co. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general business, economic and weather conditions which may impact passenger yields and occupancy and the demand for the Company's products; unscheduled repairs and dry-docking of the Company's vessels; delays or the inability to enter into definitive construction agreements on commercially reasonable terms; construction delays and/or cost overruns during regularly scheduled lay-ups and/or dry-docks or in connection with the construction of new vessels; successful completion of expansion plans, including the construction of new vessels; the impact of changes and/or repeal of laws and implementation of government regulations, and other factors which are described in further detail in American Classic Voyages' filings with the Securities and Exchange Commission.