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CARNIVAL CRUISE LINES REACHES AGREEMENT WITH SEABOURN CRUISE LINE

    CARNIVAL CRUISE LINES REACHES AGREEMENT WITH SEABOURN CRUISE LINE
    MIAMI, Nov. 21 /PRNewswire/ -- Carnival Cruise Lines, Inc. (AMEX: CCL) today announced that it has reached an agreement in principle with respect to the previously proposed joint venture with Seabourn Cruise Line.
    Carnival Chairman Micky Arison said the agreement, which was signed with Seabourn founder and owner Atle Brynestad, could lead to Carnival owning up to 50 percent of Seabourn.  Carnival would use its considerable sales and marketing resources to assist Seabourn in its sales efforts with the travel industry.  Arison said he was hopeful that closing will take place before the end of the year but said it was possible that it could take until January to conclude all the arrangements.
    The proposed joint venture still requires approval by Seabourn's first mortgage lender and is subject to the signing of a definitive agreement.  Carnival and Seabourn had announced that they were entering into discussions in mid-September.  Both companies stressed that there can be no assurance that a definitive agreement will be reached.
    San Francisco-based Seabourn was founded in 1987 and currently operates two ultra-luxury vessels, the Seabourn Pride and the Seabourn Spirit.  The ships carry 200 guests in all-suite accommodations and operate on worldwide itineraries.
    Carnival is the world's largest cruise line based on number of passengers carried.  Together with Holland America Line and Windstar Cruises, it currently operates 16 ships in the Caribbean, Alaska, and other worldwide destinations.  The company also operates Carnival's Crystal Palace Resort & Casino, a 1,550-room property in Nassau, Bahamas.  Carnival has contracted for the construction of two 2,600-passenger SuperLiners, the Sensation and Fascination, which are scheduled for delivery in late fall of 1993 and early fall of 1994, respectively.  It also has contracted to construct three new ships for Holland America Line.  The first of these, the Statendam, is scheduled for delivery in late 1992, with the Maasdam and Ryndam, to be delivered in late 1993 and 1994, respectively.
    -0-                       11/21/91
    /CONTACT:  Tim Gallagher or Jennifer De La Cruz of Carnival Cruise Lines, Inc., 305-599-2600, ext. 776/
    (CCL) CO:  Carnival Cruise Lines, Inc.; Seabourn Cruise Line ST:  Florida, California IN:  LEI SU: AW-SS -- FL003 -- 5763 11/21/91 09:45 EST
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Publication:PR Newswire
Date:Nov 21, 1991
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