COSTA PACIFICA, FOURTEENTH SHIP IN COSTA FLEET IS DELIVERED IN ITALY

Second Ship to be Delivered to Costa in Less than One Month
MIAMI (May 29, 2009) – The Costa Pacifica, the fourteenth ship in the Costa fleet, was delivered today at the Genova-Sestri Ponente ship yard by Fincantieri, the world’s leading cruise ship builder. The ship, which is the newest in the Costa fleet, was delivered in the presence of the Deputy Speaker of the Italian Republic Senate Rosa Angelo Mauro.

The sister ship of the Costa Concordia and Costa Serena, the Costa Pacifica is the “ship of music.” Weighing in at 114,500 tons with a double occupancy capacity of 3,000, the ship can accommodate a total of 3,704 total guests in 1,504 cabins. The ship is a true “Made in Italy” product, with design, technology, industrialization and construction that required the professional expertise of 3,000 workers from Fincantieri and roughly 500 linked industry companies, for a total investment of approximately €500 million.

The Costa Pacifica is the second of three new Costa ships to be delivered by Fincantieri to the Italian company in less than one year. The Costa Luminosa (92,600-tons; 2,260 dbl occ), the ship of light, was delivered on April 30. The Costa Deliziosa, sister ship of the Costa Luminosa, is also under construction at Fincantieri’s Marghera shipyard and will be delivered at the end of January 2010. Two other sister ships of the Costa Pacifica will be delivered in the spring of 2011 and 2012.

“The delivery of the Costa Pacifica is part of the world’s biggest expansion plan, with five new ships to be delivered by 2012, and all built in Italy by Fincantieri, for a total investment of €2.4 billion,” said Pier Luigi Foschi, Chairman and CEO of the Costa Crociere S.p.A. Group. “While this plan is tangible proof of the soundness of our company it is only a part of the economic benefits generated by Costa Cruises in the countries where it operates. Last year, we generated € 1.1 billion in linked industry revenues in Italy not only from the construction of new ships but also from general expenses, transport, and other linked activities involving airports and ports. Such benefits are distributed from North to South in all the main regions of the country, creating economic resources and employment, and making Costa Cruises a leading economic player.”

“Costa Pacifica further strengthens our collaboration with Costa Cruises;  for years now this partnership has contributed to our taking a splendid  image of   Made in Italy over the seven seas of the world,” said Giuseppe Bono, Chief Executive Officer  of Fincantieri. “In the last nine years our two companies have been engaged  in a fleet expansion program worth 3.5 billion Euros, the largest investment ever made by a European  operator. From our perspective, each ship we deliver means not only a substantial contribution to the balance of payments, but also over five million hours of work for  3,000 people, either directly employed by Fincantieri or in the supply chain.  We have a great impact on local economies  in terms of both direct and indirect  employment: every year we issue orders for work, services, materials and  subcontracting for a total of approximately 2 billion Euros. Today, we – as many other Italian industries – are going through a particularly difficult period but we are doing our utmost to keep these virtuous circles which over the years have made us world leaders and helped our suppliers grow considerably both in quality and quantity.”

In light of the fleet’s major expansion plan, Costa Cruises commissioned MIP, School of Management, at the Polytechnic University of Milan, to conduct a study to evaluate the economic benefits generated by its operations in Italy. According to the results of the study, presented this morning during the delivery of the Costa Pacifica, it is estimated that in 2008 Costa Cruises generated an economic impact of at least €1.1 billion. This corresponds to around 2.4 times the amount allocated by the Italian government for the “Social card,” and can be compared to the total funds that the European Union will allot for small-medium enterprises between 2007 and 2013.

The study was developed through a quantitative analysis of what was generated by Costa Cruises activities in 2008, divided into the following categories: linked industry of ports, linked industry of airports, embarkation port transportation expenses, general expenditures (i.e. the share of the company costs linked to Italian suppliers), taxes and fees, and investment in new ships.

The area analysis with regard to the linked industry revenues generated by Costa Cruises concerns the nine main Italian ports where the company operates: Savona, Venice, Civitavecchia, Naples, Bari, Ancona, Palermo, Catania and Messina. More than 1.5 million guests on Costa ships embarked or transited in one of these ports in 2008. Of these, 32% went through Savona, where Costa manages the Palacrociere. The overall value of the linked industry revenues generated in these nine Italian ports is equal to €53 million, nearly 13 of which  is in Savona, 11 in Venice and 4 in Civitavecchia.

The linked industry revenues generated with regard to airports involving movements of ship passengers amount to €13 million, while another €52 million came from embarkation port transportation activities. Considering these first three categories (linked industry relative to ports, airports and transportation) each guest embarking on Costa ships generated an average linked industry amount of €42, while for each transiting guest that figure is €37.

€420 million can be attributed to the company’s general expenses, meaning the linked industry revenues generated by Costa Cruises involving Italian suppliers of goods and services for cruise company activities, and another €16 million from taxes and fees. Finally, a total of €590 million was spent on investments in new ships.

Among the regions that received the greatest economic benefits from linked industry revenues generated by Costa Cruises in 2008 (ports, airports, transportation and general expenses) Liguria is ranked 1st (37%), followed by Lombardy (19%), Lazio (13%), Sicily (9%), Veneto (8%) and Campania (3%). These figures were determined through an additional overall analysis conducted by region.

“Our analysis highlighted how Costa Cruises’ impact on Italy’s economic system is pervasive and involves quantitative factors as well as intangible assets,” said Giuliano Noci, member of the MIP Management Committee, Polytechnic University of Milan. “For many Italian suppliers Costa Cruises is the ambassador of Made in Italy around the world, a strongly contextualized marketing ‘medium’ that characterizes the experience of the Italian style.”

Costa Pacifica: The Ship of Music
The Costa Pacifica, designed by architect and interior designer Joseph Farcus, represents the “Greatest Hits” of Costa Cruises not only because she was built based on the best of the fleet’s vessels but, above all, because music is the inspirational theme.This marks the first time that passengers can enjoy a complete, unique and unrepeatable musical experience on a cruise ship. Music not only provides the inspiration for the interior design and artwork (308 originals and 5,929 reproductions) that enrich the new flagship, but can also be listened to, interpreted and “experienced” in each area of the ship through a brand new sound track, created exclusively for Costa Cruises, consisting of 29 songs by Maestro Mauro Pagani, including 22 of some of the most famous arrangements of all time and 7 original compositions.

Each area of the ship is distinguished by one of these songs that is also the inspiration for the name of the area. Costa’s new flagship will also be the world’s first vessel with a real recording studio fitted out with the most sophisticated equipment, where guests can sing their favorite tune from among a repertoire of 400 of the most famous Italian and international songs, recording it on a musical base to create a memento CD. The theatre is where the ship’s theme is developed to the highest level—the  high fidelity of the auditorium is where guests can enjoy the absolute purity of sound in a truly unique atmosphere.

On board the Costa Pacifica, just like the Costa Luminosa, guests will be treated to the best of the Costa fleet’s latest innovations. These include the Samsara spa wellness area (extending over more than 6,000 m²), which includes a wellness center, cabins with convenient direct access to the area and a dedicated spa restaurant; a Grand Prix  race car simulator; and a central swimming pool area, extending over two decks, with a retractable glass roof and a giant 18 m² screen. In addition, these ships offer a new “Playstation World,” feature, which is an area equipped exclusively with Playstation 3.

For the 2009 summer season, the ship will sail 7-night voyages in the Western Mediterranean with calls to the port of Rome (Civitavecchia), Savona, Marseille (France), Barcelona (Spain), Palma de Mallorca (Spain), Tunis (Tunisia), Malta and Palermo. During the 2009-2010 winter season, the Costa Pacifica will depart from Rome (Civitavecchia) and Savona offering 10 and 11-night cruises to Egypt, Israel and Turkey. In the summer of 2010 she will again offer 7-night cruises in the Western Mediterranean with the following itinerary: Rome (Civitavecchia), Savona, Barcelona (Spain), Palma de Mallorca (Spain), Tunis (Tunisia), Malta and Catania.

The Costa Pacifica’s 8-night maiden voyage in the Western Mediterranean will depart from Palacrociere in Savona on June 6, 2009, including a special 2-night stay in Palma de Mallorca.

June 5, 2009: A Record Christening
The Costa Pacifica will be christened together with the Costa Luminosa on June 5 in the Port of Genoa. This is the first time that two new ships, built by the same shipbuilder for the same shipowner, will be christened at the same time, and in the same place. It will be an extraordinary event, with  the official Patronage of the Department of the Prime Minister and Cabinet of the Republic of Italy, for which Costa Cruises has requested Guinness World Records to verify and that will include an incredible overture with the exhibition of the “Frecce Tricolori” national aerobatic team and the paratroopers of the Italian Army. The show created for this exceptional event, “Italian Portrait in Music and Light,” will pay tribute to the all-Italian ability for making dreams come true. Starting from the inspirational theme of the ships – music for the Costa Pacifica and light for the Costa Luminosa – the show will re-propose a journey through the best Italian talents and artists known around the world. This will include musical and artistic performances by some of the most important figures in the Italian and international scene, including maestro Mauro Pagani, a renowned musician with thirty years of experience who composed the sound track for the Costa Pacifica. The evening will end with a show involving the entire city with lights, music and fireworks.

Costa Cruises is Italy and Europe’s Number One Cruise Line.  For the past 60 years its ships have sailed the world, offering the best in Italian style, hospitality and cuisine and providing dream vacations with the best in fun and relaxation. In 2008, 1.2 million guests chose to cruise with Costa, a record for the European cruise industry. The company’s 14 fleet members, each with her own distinctive characteristics and unique style, all fly the Italian flag and sail each year to 250 destinations in the Mediterranean, Northern Europe, the Baltic Sea, the Caribbean, South America, the United Arab Emirates, the Far East and the Indian Ocean. Three additional ships are on order through 2012.

Costa Cruises has been certified by RINA (Italian Shipping Register) with the BEST4, an integrated system of voluntary certification of corporate compliance with the highest standards governing social accountability (SA 8000, issued in 2001), environment (UNI EN ISO 14001, 2004), safety (OHSAS 18001, 1999) and quality (UNI EN ISO 9001, 2000). All ships in the Costa fleet have been assigned RINA’s Green Star notation certifying that they are operated in compliance with the highest environmental protection standards. Costa Cruises is an official partner of the WWF for the protection of the marine ecoregions of the Mediterranean, the Greater Antilles and Brazil.  In Mediobanca’s 2008 survey of over 3,700 Italian enterprises that recorded revenue of at least 50 million euros the previous fiscal year, Costa Crociere S.p.A. ranks 72nd in terms of sales and in 12th place in regards to profitability.

For reservations or more information regarding Costa Cruises, guests may contact a travel agent, call (800) GO-COSTA or visit www.costacruises.com.