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News from the world of cruising ~
June 25-June 30, 2001

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Costa Names New Fleet Additions

HOLLYWOOD, Fla., June 29 -- As part of the CostaTropicale's christening activities Costa Cruises took the opportunity to announce the names of its next four ships coming on line through 2004. They are as follows:

In 2002 Costa will welcome the Westerdam to the fleet. The ship, purchased from sister company Holland America Line, will enter drydock in the spring of 2002 re-emerging following a modest refurbishment as the CostaEuropa. She will weigh in at 53,872 grt and will carry 1,494 passengers in lower berths. Upon entering service for Costa, the CostaEuropa will offer 10- and 11-night sailings throughout the Mediterranean.

Summer 2003 will bring the launch of the CostaMediterranea, sister ship to the highly acclaimed CostaAtlantica. Presently under construction at the Kvaerner Masa Yards in Helsinki, Finland at a cost of approximately $330 million, the CostaMediterranea will be 86,000 grt and have double occupancy capacity of 2,114 guests. The ship will debut in time for Costa's Europe season followed by a Caribbean winter sailing from Ft. Lauderdale, Florida.

Costa will end the years 2003 and 2004 with the introduction of its two largest vessels ever: the CostaFortuna and the CostaMagica. Both vessels have been commissioned from Fincantieri of Genoa Sestri representing an additional combined investment of $800 million. The ships will each weigh in at 105,000 grt and each carry 2,720 double occupancy passengers. Their deployment is expected to follow that of Costa's newest vessels--summers in Europe and winters in the Caribbean.

When Costa accepts delivery of the CostaMagica the Costa fleet will grow to 12 ships for a total capacity of more than 19,000.

In total, Costa has committed more than $1 billion to be spent over the next three years. This investment includes the addition of four new ships, plus the recent addition of the CostaTropicale and the multi-million dollar refurbishment of the CostaClassica. "This is a very vigorous expansion program,'' remarked Pier Luigi Foschi, Costa's Chairman and CEO. "This program further exhibits the faith we place in our capability and determination to maintain and strengthen our position as Europe's #1 Cruise Line.''

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Daytime TV Talk Show Hosts Star Jones and Joy Behar Sail the Mediterranean On Golden Princess This Summer

LOS ANGELES--June 28, 2001--Daytime TV talk show hosts Star Jones and Joy Behar will enjoy their summer vacation this year aboard Princess Cruises' newest ship, Golden Princess, on the August 20 Grand Mediterranean cruise from Istanbul to Barcelona.

The daytime television personalities will hold a "mock TV host'' discussion, sign autographs and mingle with the passengers at all the ship's hot spots, including Skywalker's Nightclub and Lotus Spa. In addition, Jones and Behar will customize their vacation experience with Personal Choice Cruising, Princess' unique program that allows passengers to do "what they want, when they want.'' They'll enjoy a variety of onboard entertainment, recreational and dining options including Personal Choice Dining, the only program in the cruise industry to offer passengers both a restaurant-style seating arrangement, allowing them to dine when and with whom they wish, and traditional cruise dining with assigned time, tablemates and wait staff.

Golden Princess offers her 2,600 passengers affordable private balconies and many new and exciting features. To complement Princess' exclusive wedding-at-sea program, Golden Princess features the cruise industry's only Wedding Cam, enabling friends and family back home to "virtually'' attend the nuptials by viewing the ceremony online at www.princess.com. Golden Princess also debuts the cruise industry's first and only AOL Internet Cafe, featuring 25 state-of-the-art computer stations with access to a number of AOL Internet products, along with other business and on-line features. And passengers can choose to have portraits taken at their convenience and enjoy a host of photographic services at the F/X Digital Photo Center, the first complete professional digital photography studio in the cruise industry.

Golden Princess' Mediterranean route includes Europe's most heralded ports of call, such as Monte Carlo, Monaco; Florence/Pisa, Naples/Capri, Venice, Italy; Athens, Greece; and Ephesus, Turkey. It is the industry's only itinerary to feature overnight stays on board the shop in Barcelona, Venice and Istanbul, allowing passengers more time in these fascinating cities. She will sail this route through September before making her trans-Atlantic crossing for her U.S. debut in Florida, where she will be officially named by actress Jane Seymour.

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Cruise from Amsterdam to Dover with Cathy Rigby on Renaissance Cruises' R8

You first "met" Cathy Rigby during the 1968 Summer Olympics, when the blonde, pigtailed 15-year-old earned the highest United States scores in gymnastics. (She went on to win 12 international medals, eight of them gold.) 

Then you heard about her highly acclaimed career as a singer, dancer, and actress, including her Tony-nominated role as Peter Pan in the musical revival of the same name. Now you have the chance to learn about Cathy Rigby's life in the spotlight on the balance beam and stage, when the multi-talented performer appears on Renaissance Cruises' own R8 as part of our brand-new VIP Speakers Series. 

The cruise, sailing from Amsterdam to Dover beginning August 22, 2001, will feature two presentations by Rigby, as well as question-and-answer sessions (all free of charge!). 

Space is still available onboard, but time is running out! To find out more about this memorable cruise and to make your reservations, call your travel agent or visit www.renaissancecruises.com.

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Steiner Leisure Limited Agrees to Acquire a 60% interest in Mandara Spa LLC and Mandara Spa Asia Ltd.

Steiner Acquires Controlling Interest in Prominent Worldwide Operator of Resort and Maritime Spas; Steiner Solidifies its Position as the Leading Provider of Spa Services to Cruise Industry

NASSAU, The Bahamas-June 27, 2001- Steiner Leisure Limited, the leading worldwide provider of spa services on cruise ships, announced that it has entered into an agreement to purchase a 60% interest in each of Mandara Spa LLC and Mandara Spa Asia Ltd. (collectively referred to as "Mandara Spa"). Mandara Spa currently operates spas in more than 50 locations worldwide, principally in Asia and the Pacific, the United States and the Caribbean. Mandara Spa also provides spa services for Silversea Cruises, Norwegian Cruise Line and Orient Lines.

Leonard Fluxman, President and Chief Executive Officer of Steiner confirmed that Steiner will pay $29.4 million in cash, $7.0 million in subordinated debt and $8.0 million in Steiner Leisure Common Shares for the interest in Mandara Spa. The transaction is expected to close in early July 2001.

Steiner is acquiring its interest in Mandara Spa's US operations from entities controlled by business interests of the Pritzker Family and Thomas Gottlieb, Mandara Spa's senior executive. Steiner is acquiring its interest in Mandara Spa's Asia operations primarily from entities controlled by Thomas Gottlieb and other founding shareholders. As part of the transaction, Gottlieb and Mark Edleson, Mandara Spa senior executives, have entered into employment agreements with Steiner calling for their continued employment in their current capacities. Shiseido Co., Ltd., a leading international manufacturer of cosmetics and personal care products will remain, through its subsidiaries, a 40% shareholder in Mandara Spa.

According to Fluxman: "The Mandara Spa transaction will expand Steiner's presence in the resort spa market significantly. This will make us a leading player in the worldwide spa market with the combination of Mandara Spa's locations in Aruba, the Bahamas, Indonesia, Malaysia, Tahiti, Thailand, Honolulu, and Las Vegas; Steiner's locations in England, Hong Kong and Dubai; and the Greenhouse Day Spa operations in the United States which Steiner has agreed to acquire."

"Thomas Gottlieb has significant experience in the hospitality and spa arena. We look forward to working with Thomas and Mark Edleson to expand Mandara Spa's operations and the Mandara Spa brand. Thomas and Mark have developed a unique mystique around Mandara Spa. They were early pioneers in the use of tropical garden spas to enhance the spa experience and the allure of the Mandara Spa brand."

"Mandara Spa has excellent relations with major hotel and resort operators, including Hilton, Marriott, Sheraton, Westin, Park Place Entertainment, Accor, Sun International, Nikko, Club Med and Imperial Hotels. We believe Mandara Spa and Steiner Leisure working together will be able to bring an even higher level of service and spa expertise to their expanding operations.

"The purchase of a controlling interest in Mandara Spa is one more step in our strategy of diversifying our revenue and earnings base by extending our spa operations to the resort and day-spa market. It is also consistent with our intention of building a portfolio of brands to offer to our maritime and land-based clients and partners. Our Elemis brand, combined with our recently announced acquisition of the Greenhouse name and day-spa operations, and now the Mandara Spa brand give us a powerful stable of recognizable names and spa experiences to offer the global spa marketplace."

"We look forward to a long and prosperous relationship with Shiseido in Mandara Spa. We have tremendous respect for Shiseido's management and powerful cosmetics brands. We are very impressed that Shiseido recognized early the close and increasingly important link between spa services and the distribution of cosmetics and personal care products."

Steiner Leisure Limited is the leading worldwide provider of spa services on cruise ships. The company operates the spas and salons on 100 cruise ships, including those of Carnival Cruise Line, Royal Caribbean Cruise Lines, Princess Cruises, Disney Cruises, Celebrity Cruises, and Holland America Lines. Steiner Leisure's Elemis Limited subsidiary manufactures its Elemis brand for use on board Steiner cruise ship spas. This top quality European line of beauty products is also distributed worldwide to five star hotels, salons, health clubs and destination spas. Elemis, as well as other Steiner private label products, including La Therapie, Ionithermie, and Steiner Hair Care, are available at www.timetospa.com.

Steiner Leisure also owns and operates three post secondary schools (comprised of nine campuses) located in Miami, Fort Lauderdale, Orlando and Sarasota, Florida, and in Maryland, Virginia and Pennsylvania. Offering degrees in massage, advanced therapy and skin care, these schools train and qualify spa professionals for health and beauty positions within the Steiner family of companies or other industry entities.

The company will be holding a conference call at 2:00 pm (E.D.T.) on Wednesday, June 27, 2001. Clive E. Warshaw, Chairman of the Board, and Leonard I. Fluxman, President and Chief Executive Officer, will discuss the contents of the press release.

If you wish to participate in this conference call, please call 415/217-0050 for domestic and international calls approximately 10 minutes before the scheduled time and give the password Steiner. This call is available for replay from Thursday, June 28, 2001 (approximately 3 hours after the call takes place) for one week. You may reach it by dialing 913/385-6780 for both domestic and international calls. The PIN access code is 2008.``

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Royal Olympic Cruise Lines New Management 
Positions the Company to Deliver

PIRAEUS, Greece, June 26 -- Royal Olympic Cruise Lines Inc. announced that its new Chief Executive Officer, Yiannos Pantazis, together with Chief Financial Officer, George Kassapis, who joined the Company in September 2000, have just completed a week of meetings in New York with shareholders, the travel trade and cruise industry analysts.

The Company further announced that it is currently working with the Blohm+Voss shipyard regarding the delivery of the Company's newly constructed cruise vessel, 'Olympic Explorer.' As previously announced, the Company did not accept delivery of the vessel as scheduled in April 2001 due to technical problems. The delay in the delivery will adversely affect earnings for 2001, and the Company currently expects to break even or record a small loss for the year. However, management expects EBITDA to improve over the $21.7 million attained in fiscal 2000.

The new management is focused on further raising both sales and operational efficiency. Its near term strategy is to improve the operational culture within ROC and enhance its leading position and long experience as a cruise operator to the Greek islands and in the Eastern Mediterranean. The new ships, 'Olympic Voyager' and 'Olympic Explorer', have allowed ROC to set new, exciting itineraries such as its seven day, three continent voyages. The introduction of the 'Olympic Voyager' in 2000 contributed to significantly improved yields in 2000.

Improvements to the Greek infrastructure, including Athens' new airport, are positive factors in the run up to the 2004 Olympics being held in Greece. Management believes that the Games will offer opportunities to charter out vessels at attractive levels for the duration of the event and the company will benefit from expanded tourism in Greece up to, during and after 2004, as a result of the publicity generated by the Olympics.

Royal Olympic's fleet is composed of ten ships that are able to offer access to the special cultural destinations of the Eastern Mediterranean. In the winter, exotic itineraries to South America are offered.

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Perfect Harmony Fares Provide Exceptional Value 

LOS ANGELES, June 26 -- For the first time in more than three years, in 2002 Crystal Cruises is offering a varied series of 15- and 16-day cruise programs, including a complimentary three-night land package in Beijing.

The luxury line has developed four diverse routes, visiting more than 13 cities throughout China, Japan and South Korea from April through early June, the region's prime season. Each cruise features an overnight stay aboard Crystal Harmony in Shanghai, China and either Kobe, Japan or Hong Kong, depending on the itinerary. Other calls include Yokohama, Nagasaki, Okinawa, Kagoshima and Hiroshima, Japan; the Chinese cities of Dalian, Beijing, and Qingdao; Taipei, Taiwan; and Seoul, South Korea, a maiden call for the ship. 

Crystal Harmony's new 2002 spring Asia series includes: 

-- Mysteries of the Orient: April 17-May 1; 15 days; Yokohama, Japan to Beijing, China Additional ports: Kobe and Nagasaki, Japan; Shanghai and Dalian, China 

-- Ancient Dynasties: April 25-May 10; 16 days; Beijing to Hong Kong, China Additional ports: Qingdao and Shanghai, China; Okinawa, Japan; and Taipei, Taiwan 

-- Kingdoms of Jade & Gold: May 10-25; 16 days; Hong Kong to Beijing Additional ports: Taipei, Taiwan; Kagoshima, Japan; Shanghai, China; and Seoul, South Korea 

-- Treasures of Ancient Empires: May 19-June 3; 16 days; Beijing to Yokohama Additional ports: Dalian and Shanghai, China; Hiroshima and Kobe, Japan Crystal's complimentary inclusive three-night pre- or post-cruise program in Beijing showcases the Forbidden City, Tian An Men Square, the Great Wall, the Summer Palace, Sacred Alley, and concludes with a private dinner at the Great Hall of the People. Crystal's team of land program experts is developing a roster of optional day tours. 

Among the other historical, cultural and natural highlights of the region are:

-- the ancient Grand Canal in the "Garden City" of Wuxi 
-- Kagoshima's towering Mount Sakurajima 
-- the Imperial capital of Kyoto 
-- poignant exhibits in Hiroshima 
-- picturesque Qingdao, a Chinese vacation spot referred to as the "Green Island" 
-- Gyokusendo Cave, renowned for intricate limestone formations and giant bamboo 
-- unusual sea delicacies and superbly-crafted shell art at Farmers' Markets on Tianjin Jie 
-- Taipei's National Palace Museum, home to more than 600,000 Chinese art treasures 
-- Glover Mansion in Nagasaki, the legendary setting of Puccini's "Madam Butterfly" 
-- Seoul's gated Chondungsa Temple 

To further extend the guest's Asia experience, a choice of several optional pre- and post-cruise land programs and hotel stays are available -- in addition to the complimentary Beijing package. Guests can delve deeper into the continent on a five-night journey including Beijing, the riverfront city of Chongqing and a Yangtze River cruise through the dramatic Three Gorges. A comprehensive five-night land program to Xi'an and Guilin from Hong Kong features the terra cotta warriors and Red Flute Cave. Optional pre-and post-cruise hotel stays are available at Tokyo's Four Seasons at Chinzan-so and Hotel Inter-Continental Hong Kong. 

Scholars on antique Chinese textiles, Chinese traditions, Japanese Kimonos and the intricate Japanese tea ceremony will lecture aboard the April 17 Asian Art & Literature-themed sailing. The May 19 Wine & Food Festival cruise features a guest chef and wine expert. 

With Perfect Harmony pricing of up to 43% off previously published fares, the 15- and 16-day itineraries with the three-night Beijing program, including hotel accommodations, meals and tours, start at $3,795 and $3,995 per person, double occupancy, respectively. 

Prior to the first Asia departure, Crystal Harmony will sail from Hawaii to Yokohama on April 3 on a 13-day route featuring maiden calls in Wake Island and Sendai, Japan. At the conclusion of the series on June 3, she will cruise for 12 days from Yokohama to Seward, Alaska, where she'll begin her summer Alaska cruises. With Value Collection pricing of up to 50% savings, the repositioning cruises start at $2,595 and $2,495 per person, double occupancy, respectively. 

Crystal Symphony, Crystal Harmony's sister ship, will also cruise the region, as well as Southeast Asia, in March and April during its 2002 Grand Pacific Circle World Cruise. 

At 50,000 tons carrying only 940 guests, the elegant Crystal Harmony is a spacious floating resort. The award-winning ship offers expansive decks, exquisitely-appointed staterooms (more than half with private verandahs), a variety of entertainment lounges for acclaimed, Broadway-style shows, gourmet dining including Japanese and Italian specialty restaurants and "Valentino at Prego" selections from the renowned restaurants (Los Angeles and Las Vegas), a full-service spa, and the only Caesars Palace at Sea casino. 

For the fifth consecutive year, Crystal Cruises was named best large-ship cruise line in the 2000 readers' surveys conducted by Conde Nast Traveler and Travel + Leisure magazines. Crystal Cruises is booked exclusively through professional travel agents. For a complimentary brochure on Asia or any other worldwide destination, call 800.820.6663. Visit the luxury cruise line's website at www.crystalcruises.com.

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SEABOURN OFFERS FREE AIRFARE TO EXOTIC YACHT CRUISES IN ASIA

Business Class Upgrades from $1,295 and Early Booking Savings up to 20 Percent

Miami, June 26, 2001--Ultra-luxury cruise pioneer Seabourn Cruise Line has added extraordinary value to attractive Early Booking Savings of up to 20 percent by offering free economy class round trip airfare to join any of eleven exotic Asian cruises aboard its 100-couple yacht Seabourn Spirit. The airfare alone represents a savings of up to $2,610 per person.  In addition, the line also offers upgrades to business class air at value-priced add-ons as low as $1,295. The airfare offer is valid from 23 gateway cities across the United States. Business class upgrades start from $1,795 for Eastern zone cities, from $1,695 for Central cities and from $1,295 for gateways in the Western zone.

The cruises, which depart in late 2001 and early 2002, include voyages of 12 to 19 days exploring such spectacular destinations as India, Arabia, Thailand, Vietnam, Bali, the Indonesian Archipelago, Malaysia, Myanmar, Singapore and Hong Kong. Optional land extensions are also available including exciting adventures in East Africa, India, China, Nepal and the famed Eastern & Oriental Express luxury train.

Seabourn Spirit is a yacht-like ship with just 104 large luxury suites, many with innovative French Balconies. Guests enjoy Seabourn's celebrated European-style service, sumptuous accommodations and superb cuisine served in an open seating restaurant. Many thoughtful added touches on board include complimentary beverage service in bars and lounges, an in-suite bar stocked to guests' requests, free Massage Moments on deck, indulgent Movies Under the Stars and a fully-equipped, foldout watersports Marina.

The cruises being offered are:

November 6, 2001 16 days Alexandria, Egypt to Mombasa including Sharm el Sheikh; Aqaba; Safaga (Luxor); Djibouti. EBS fares from $8,534 include free economy class airfare. Business class upgrades from $1,995.

December 8, 2001 14 days Singapore to Hong Kong including Bangkok; Ho Chi Minh City; Danang; Haiphong (Hanoi). EBS fares from $6,284 include free economy class airfare. Business class upgrades from $1,295.

December 22, 2001 16 days Hong Kong to Singapore including Haiphong; Danang; Nha Trang; Ho Chi Minh City; Bangkok. EBS fares from $10,446 include free economy class airfare. Business class upgrades from $1,295.

January 7, 2002 12 days Round trip Singapore including Port Kelang; Langkawi; Phuket; Yangon; Ko Hong.  EBS fares from $5,599 include free economy class airfare. Business class upgrades from $1,295.

January 19, 2002 12 days Singapore to Bali including Malacca; Phuket; Teluk Dalam; Pulau Sepa; Semarang; Padang Bay. EBS fares from $5,599 include free economy class airfare. Business class upgrades from $1,795.

January 31, 2002 14 days Bali to Hong Kong including Komodo; Palopo; Ujung Pandang; Sandakan; Kota Kinabalu; Manila, Whampoa. EBS fares from $6,799 include free economy class airfare. Business class upgrades from $1,795.

February 14, 2002 14 days Hong Kong to Singapore including Hongai (Hanoi); Danang; Ho Chi Minh City; Ko Kood; Bangkok. EBS fares from $6,799 include free economy class airfare. Business class upgrades from $1,295.

February 28, 2002 14 days Singapore to Hong Kong including Bangkok, Ko Kood; Ho Chi Minh City; Danang; Hongai (Hanoi). EBS fares from $6,799 include free economy class airfare. Business class upgrades from $1,295.

March 14, 2002 14 days Hong Kong to Singapore including Hongai (Hanoi); Danang; Ho Chi Minh City; Ko Kood; Bangkok. EBS fares from $6,799 include free economy class airfare. Business class upgrades from $1,295.

March 28, 2002 12 days Singapore to Mumbai including Phuket; Port Blair; Cochin; Goa. EBS fares from $5,599 include free economy class airfare. Business class upgrades from $1,695.

April 9, 2002         19 days Mumbai to Alexandria including Muscat; Dubai; Khasab; Salalah; Safaga (Luxor); Aqaba; Sharm el Sheikh. EBS fares from $7,999 include free economy class airfare. Business class upgrades from $1,695.

Fares are in US dollars, per person, based on double occupancy. Some restrictions apply. For details on Seabourn Spirit or this offer, consult a travel agent, call Seabourn at 1-800-929-9391 or click on www.seabourn.com. Ship's registry: Norway.

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Queen Mary Plans Four-Day July 4th Extravaganza

LONG BEACH, Calif., June 25 -- The annual Queen Mary July 4th Extravaganza will be presented Saturday, June 30; Sunday, July 1; Tuesday, July 3 and Wednesday, July 4. Included in the festivities will be a Carnival adjacent to the ship in the Queen Mary Events Park. Carnival hours are 1:00 p.m. to 11:00 p.m. on Saturday, June 30 and Sunday, July 1. Carnival hours will be 5:00 p.m. to 11:00 p.m. on July 3 and 12:00 p.m. to 11:00 p.m. on Wednesday, July 4. There will be no Carnival on Monday, July 2.

The fireworks shows will be on Saturday, June 30; Sunday, July 1 and Wednesday, July 4 at 9:00 p.m. They will mirror the Queen Mary's regularly scheduled weekly summer fireworks presentations each Saturday night through September 1. The Wednesday 4th of July fireworks spectacular, co-sponsored each year by the City of Long Beach, will last a full 20 minutes and will be packed with more sparkle power. There will be no fireworks show on Monday, July 2 or Tuesday, July 3.

There is no charge to enter the Carnival in the Events Park, but there will be a charge for games and rides (all-access wristbands for the Carnival games and rides will be sold at the Events Park for $13. Carnival tickets will also be available at a sheet price of 20 tickets for $13 or 75 cents per ticket. Rides and games range from $1.50 to $3.00.). Although the fireworks are visible from across the harbor, the pyrotechnics are choreographed to a musical soundtrack that can only be heard aboard the ship accompanying the fireworks exploding overhead.

Queen Mary general admission is $19 for adults, $17 for seniors and military and $15 for children ages 3-11.

While at the Queen Mary, visit the Russian, Foxtrot-class submarine, code name: 'Scorpion." Experience the "Ghosts & Legends of the Queen Mary" show, which is included in the Queen Mary general admission price with the Queen Mary. See a real Cold War Submarine and explore its hatches, corridors and even peak through its periscope. Open through September 30th is the World of Reggae featuring Bob Marley. Behind-the-Scenes Guided Tour of the Queen Mary or new World War II Tour that visit areas not open to the general public is also available.

Scorpion Submarine, the World of Reggae exhibit and the Behind-the-Scenes Guided Tour or World War II Tour can be purchased for an additional price separately. They are all included in the First Class Passage (with choice of one guided tour), which is $23 for adults, $21 for seniors and military and $19 for children ages 3-11. Parking at the Queen Mary is $8.00 per car.

On July 4 only, the special event parking fee will be $10.00 per car beginning at 2:00 p.m. Free Passport shuttles from downtown Long Beach and the AquaBus water taxi from the Aquarium of the Pacific will both be operating, and access from the Los Angeles area is available via the Metro Blue Line Trains.

The Queen Mary offers the perfect summer location for a close-to-home getaway, and Hotel Queen Mary stateroom accommodations, reservations for formal dining at Sir Winstons's with stellar views of the fireworks (on applicable nights) and the Chelsea Restaurant are still available for the 4th of July weekend. Various Hotel Queen Mary packages are available.

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Princess Cruises Defers New Ship Options

June 2001 - P&O Princess Cruises - Update on Ship Options

P&O Princess Cruises plc, one of the largest cruise companies in the world, announced that it has reached agreement with the shipyard Chantiers de l'Atlantique regarding existing options for the ordering of two new ships which were due to expire this month.

The existing options, for ships to be delivered in 2004, will not be exercised. It has been agreed in principle that new options will be granted to P&O Princess Cruises for two ships to be delivered in the 2005-2006 period. These options will expire in July 2002.

Peter Ratcliffe, Chief Executive Officer of P&O Princess Cruises, commented: "We have eight new ships on order which will enable us to meet our growth plans out to 2004. Retaining options, but with later delivery dates, gives us flexibility in considering our development plans beyond this period."

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