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News from the world of cruising ~
February 4, 2002

Royal Caribbean 
Response to P&O Princess Announcement 

LONDON, Feb 4 - Richard Fain, chairman and chief executive of Royal Caribbean Cruises, said: "I am delighted that P&O Princess has reaffirmed the value of our transaction. It remains an exceptional opportunity to create value together for both parties and I am confident P&O Princess's shareholders will not lose sight of this despite Carnival's repeated efforts to distract them." 

"I would also like to emphasize P&O Princess's analysis that adjournment of next week's EGM could threaten our merger. I have spoken many times before about the disruption caused by this whole process. Further delay, and further disruption, serves the interest of neither set of shareholders."

SOURCE Royal Caribbean Cruises Ltd.

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