CARNIVAL CORP — Director's Dealing 2011

Feb 8, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARNIVAL CORP (CCL)
CIK: 0000815097
Period of Report: 2011-02-07

Reporting Person: ZUCKER UZI (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-02-07	Common Stock	M	2400	$25.915	Acquired	72635	Direct
2011-02-07	Common Stock	S	2400	$46.5832	Disposed	70235	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-07	Stock Option (Right to Buy)	$25.915	M	2400	Disposed	2011-04-17	Common Stock (2400)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $46.58 to $46.5835. The price reported above 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.

F2: Options vest ratably over five years beginning on the first anniversary of the grant date.