For Immediate Release

          P&O Princess Cruises plc ("P&O Princess")

                        20 June 2002

                Response to DTI Announcement

P&O  Princess Cruises plc ("P&O Princess") welcomes  today's
decision  by  the Secretary of State for Trade and  Industry
("Secretary  of State") to approve the proposed  combination
of  P&O  Princess with Royal Caribbean Cruises Ltd.  ("Royal
Caribbean").

Peter Ratcliffe, Chief Executive of P&O Princess, said:

"We  are  pleased with the Secretary of States  decision  to
approve  our  agreed combination with Royal  Caribbean.   We
continue  to work with the Federal Trade Commission  in  the
United   States  as  they  conduct  their  review   of   the
transaction."


Notes To Editors:

The   proposed  combination  with  Royal  Caribbean  remains
subject  to  review by the Federal Trade Commission  in  the
United  States and to approval by P&O Princess shareholders.
The  proposed offer by Carnival Corporation for P&O Princess
remains subject to review by the Federal Trade Commission in
the United States and approval by the European Commission.

ENQUIRIES

P&O Princess
+44 (0) 20 7805 1200
Caroline Keppel-Palmer
+44 (0) 7730 732015

Brunswick (London)
+44(0) 20 7404 5959
John Sunnucks
Sophie Fitton

The  directors of P&O Princess accept responsibility for the
information contained in this announcement.  To the best  of
the  knowledge and belief of the directors of  P&O  Princess
(who  have taken all reasonable care to ensure that such  is
the  case), the information contained herein for which  they
accept  responsibility is in accordance with the  facts  and
does  not omit anything likely to affect the import of  such
information.