09:19     STAR CRUISES<00678> - Announcement (4)                              

                                   Unit Trust                                 
    Listing Rules                  the Rules Governing the                    
                                   Listing of Securities on the               
                                   Stock Exchange                             
    NCL Brands                     Norwegian Cruise Line and NCL              
                                   America, two major brands of               
                                   NCLC in the cruise industry                
    NCLC                           NCL Corporation Ltd., a                    
                                   company incorporated in                    
                                   Bermuda with limited                       
                                   liability, a direct                        
                                   wholly-owned subsidiary of                 
                                   the Company and the immediate              
                                   holding company of the Group               
                                   members operated in North                  
                                   America and Europe under NCL               
                                   Brands and Orient Lines                    
    Shareholders                   shareholders of the Company                
    Shares                         ordinary shares of US$0.10                 
                                   each in the share capital of               
                                   the Company                                
    Shipbuilding Contract          the shipbuilding contract                  
                                   dated 3 May 2005 between the               
                                   Buyer, NCLC as guarantor of                
                                   the obligations of the Buyer               
                                   thereunder and the Builder                 
                                   for the construction and                   
                                   delivery of the Vessel                     
    Stock Exchange                 The Stock Exchange of Hong                 
                                   Kong Limited                               
    Transaction                    the transaction in relation                
                                   to the construction and                    
                                   delivery of the Vessel as                  
                                   contemplated under the                     
                                   Shipbuilding Contract                      
    Vessel                         the vessel to be constructed               
                                   as a 1,188 cabin luxury                    
                                   passenger cruise vessel to be              
                                   identified with the hull no.               
                                   S.670 at the yard of the                   
                                   Builder which will be                      
                                   delivered to the Buyer                     
                                   pursuant to the Shipbuilding               
                                   Contract                                   
                                                                              
                                                                              
    By order of the Board                                                     
    Louisa Tam Suet Lin                                                       
    Company Secretary                                                         
                                                                              
    Hong Kong, 3 May 2005                                                     
                                                                              
    In this announcement, the Hong Kong dollar amounts have been              
    translated from euro at the rate of euro 1 to HK$10.084. Such             
    translations are for the convenience of the readers only. No              
    representation is made that the euro amounts have been, could have        
    been or could be, converted into the Hong Kong dollars, or vice           
    versa, at such rate or at any other rates on any relevant dates.