Exhibit 99.1


CONTACT: Tim Gallagher                         FOR IMMEDIATE RELEASE

           CARNIVAL CORPORATION WILL COMMENCE ALL CASH TENDER OFFER OF
                      NOK 30 PER SHARE FOR NCL HOLDING ASA
                         IN USD 1.7 BILLION TRANSACTION

Offers NCL Shareholders Premium of Approximately 40% Over 30-Day Average Closing
                                      Price

Carnival to Maintain NCL Name and Autonomous Operations, As with Other Carnival
                               Corporation Brands

Consumers to Benefit from Combined Company's Broad Range of Travel, Leisure and
                                Vacation Choices

     Proposed Acquisition to Build on Carnival Corporation's Ties to Norway


         MIAMI (12/01/99) - Carnival Corporation (NYSE: CCL) today announced
that it will commence a cash tender offer to purchase all of the outstanding
shares of NCL Holding ASA (OSLO: NCL) at NOK 30 per share. The offer represents
a 32.2% premium over NCL's per share closing price on Tuesday, November 30,
1999, and an approximate 40 % premium over NCL's 30-day average closing price.

         The acquisition is not expected to be dilutive to Carnival's earnings
per share in 2000 and is expected to become accretive to Carnival's EPS
beginning in 2001.

         According to Carnival Corporation Chairman and CEO Micky Arison, "NCL
provides cruise vacation products that have been present in the leisure travel
industry for many years. However, the company stands to achieve greater success
under the Carnival Corporation umbrella, which will provide NCL with economies
of scale, greater access to capital, marketing and operating expertise and
stronger credibility in the leisure and vacation industry."

         He added that Carnival Corporation's management approach has been to
maintain the identity of its various brands and to allow them to operate
autonomously under their own


managements. "Cruise lines acquired by Carnival Corporation have become larger,
more profitable companies with greater capacity and an increased number of
employees following acquisition," said Arison.

         He also pointed out that Carnival Corporation already has ties to
Norway through its Seabourn Cruise brand, founded by Norwegian entrepreneur Atle
Brynestad who sits on Carnival's board of directors, through the employment of
many Norwegian officers and crew and the Norwegian flagging of some of its
vessels.

         The tender offer is scheduled to expire on December 22, 1999, at 1600
hours Oslo time. Completion of the offer is conditioned upon Carnival's
receiving acceptances of a majority of the shares and the receipt of all
corporate, regulatory and government approvals and other customary conditions
found in transactions of this type, including the expiration or termination of
the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of
1976. No assurance can be given that the foregoing conditions will be satisfied
or that the transaction will be finalized.

         The tender offer, when initiated, will not be made directly or
indirectly in or into the United States, Japan, Canada and Australia, and the
offer documents will not be distributed in the United States, Japan, Canada and
Australia. In addition, the tender offer will not extend to the American
Depository Shares or American Depositary Receipts of NCL. If Carnival acquires
40% or more of all outstanding shares of NCL, Carnival will be required under
Norwegian law to make a tender offer for all outstanding NCL shares, including
shares underlying American Depositary Shares and American Depository Receipts.

         Christiania Markets in Oslo is serving as financial advisor to Carnival
Corporation on this transaction.

         Miami-based Carnival Corporation is comprised of Carnival Cruise Lines,
the worlds' largest cruise line based on passengers carried, Holland America
Line, Windstar Cruises, Cunard Line Limited, which operates the Cunard and
Seabourn cruise brands, and interests in Costa Cruises and Airtours plc.
Combined, Carnival Corporation's various brands operate 45 ships in the
Caribbean, Alaska, Europe and other worldwide destinations. Additional
information is available at the Carnival Corporation web site located at
www.carnivalcorp.com.

         NCL operates two cruise brands, Norwegian Cruise Line in the
contemporary segment of the cruise industry and Orient Line in the premium
segment, with a total combined fleet of nine ships. In addition, the company is
a joint venture partner (50%) in Norwegian Capricorn


Line which operates in Australia. The companies offer cruise itineraries ranging
from three to 15 days, calling at destinations in the Caribbean, Bermuda, the
Bahamas, Mexico, Alaska, Europe, Hawaii, New England, Central and South America,
Antarctica, Africa, Australia and New Zealand. The company has a new
2,000-passenger ship on order, the Norwegian Sun, expected to be delivered in
2001.

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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 Carnival Corporation
to be materially different from any future results, performances or achievements
expressed or implied by such forward-looking statements. Such factors include
general economic and business conditions; increases in cruise industry capacity
and competition; changes in tax and other laws and regulations affecting
Carnival and other factors which are described in further detail in Carnival's
filings with the Securities and Exchange Commission.