PRINCESS CRUISES

Rising from modest beginnings in 1965 with one ship cruising to Mexico, Princess has grown to be one of the largest cruise lines in the world. Today, its fleet carries more than 700,000 passengers each year to more worldwide destinations than any other major line.

Princess was catapulted to stardom in 1977 when it became the sea-going star of "The Love Boat" television series, which introduced millions of viewers to the still-new concept of a sea-going vacation. The company name and famous "seawitch" logo have remained synonymous with cruising ever since.

The company's now famous fleet includes Dawn Princess, Pacific Princess, Regal Princess, Royal Princess, Sun Princess, Grand Princess, Sea Princess, Golden Princess and Star Princess. Seven additional new ships will join Princess' fleet by 2004.

Princess ships offer the line's innovative Personal Choice Cruising® program, an individualized, unstructured style of cruising that provides a "what you want, when you want" atmosphere of onboard choice and flexibility designed to give passengers the opportunity to customize their cruise experience to fit their personal interests, needs and desires. Princess introduced the concept of putting the passengers in control of their own cruise experience in the mid-1990s when it introduced the revolutionary Sun-class ships. This emphasis on choice - of multiple dining locations, flexible entertainment and affordable private balconies - has since established customized cruising as the touchstone of new ship design for the entire industry.

Princess has also distinguished itself by sailing to more worldwide cruise destinations than any other major line. Offering more than 150 itineraries ranging from seven to 72 days, Princess sails to six continents and calls at nearly 260 ports around the world. Destinations include the Caribbean, Alaska, the Panama Canal, Europe, Mexican Riviera, South America, South Pacific, Hawaii, Tahiti and French Polynesia, Asia, India, Africa, the Holy Land, Canada/New England and world voyages.

Alaska is a particularly key destination for Princess, where it is the leading cruisetour company. Through its Seattle-based Princess Tours division, Princess operates a wide variety of cruisetours, giving visitors spectacular land and sea experiences in the majestic "Land of the Midnight Sun." Princess is the largest cruise and tour operator in the state with seven cruise ships, five riverside wilderness lodges, a fleet of deluxe motorcoaches and luxury Midnight Sun Express Ultra Dome rail cars. The company pioneered the popular Gulf of Alaska route, which offers more of the attractions Alaska is famous for - including glaciers and wildlife. Gulf cruises connect conveniently and seamlessly to its landside experience, enabling passengers to experience the heart of this great wilderness.

On land, Princess' Adventures Ashore program features thousands of in-port excursions worldwide, and the company's expanding cruisetour offerings enable passengers to combine their cruise with full land tour in such places as Europe, China, Africa, India, Australia, South America, Alaska and the eastern U.S.

Princess Cruises is part of P&O Princess Cruises plc, one of the largest international cruise companies, which consists of a number of the top cruise brands around the globe -- Princess Cruises; P&O Cruises, the UK's largest premium cruise brand; Aida Cruises, one of Germany's fastest growing cruise companies; the successful P&O Cruises (Australia); Swan Hellenic and Ocean Village in the UK; as well as Seetours and A'ROSA in Germany. Headquartered in London, P&O Princess Cruises is listed on the New York and London stock exchanges with the stock symbol "POC."