CARNIVAL CORP — Director's Dealing 2010

Feb 3, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARNIVAL CORP (CCL)
CIK: 0000815097
Period of Report: 2010-02-01

Reporting Person: RATCLIFFE PETER GERVIS (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-02-01	Common Stock	C	10000	—	Acquired	10000	Direct
2010-02-01	Common Stock	A	1465	—	Acquired	11465	Direct
2010-02-01	Common Stock	S	11465	$33.9076	Disposed	0	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-02-01	Restricted Stock Units	$0	C	10000	Disposed		Common Stock (10000)	Direct

Footnotes

F1: Represents shares released from restriction from a Restricted Stock Unit award granted in 2005.

F2: Represents settlement of dividend equivalents accumulated during the restricted period of a restricted stock unit award originally granted in 2005, which has now vested.

F3: This transaction was executed in multiple trades at prices ranging from $33.87 to $33.983. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F4: Restricted stock units either vest or are forfeited therefore there is no expiration date.