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November 18, 2004




Honolulu - Today (November 16th), NCL Corporation announced that it has acquired one of the two major tour bus companies in Hawai`i, Polynesian Adventure Tours. Polynesian Adventure Tours operates over 100 motor coaches and buses and is licensed to operate as a tour bus company on all four of the main Hawai`i islands. It has operated in Hawai`i for more than 25 years. The purchase price, including transaction costs, was approximately $5 million.

Polynesian Adventure Tours' statewide presence and its reputation for exceptional customer service make it an ideal fit with NCL's growth strategy in Hawai`i. NCL will retain all 200 employees, and Polynesian Adventure Tours will continue to service all of its existing loyal clientele. NCL's plans for the business will ensure continuation of the existing business as well as an upgrading and expansion of the operation in line with the growth of the NCL America brand cruise product in Hawai`i. NCL currently has two ships operating year-round in Hawai`i, with plans to grow this to four by 2006. This cruise fleet will bring approximately half a million vacationers a year to Hawai`i, and the acquisition of Polynesian Adventure Tours will ensure that NCL can develop the ground operations necessary to serve the core of its tour and transfer requirements for these cruisers.

According to Robert Kritzman, NCL's executive vice president and managing director of Hawai`i Operations: "This acquisition complements our long term strategic plan in Hawai`i. NCL is poised to invest the necessary resources in Polynesian Adventure Tours to meet the needs of our cruise business as well as service the company's existing customer base. With our financial strength behind it, this is also a great opportunity for Polynesian Adventure Tours to build its overall business and increase its service to other customers in addition to NCL."

The new acquisition will be headed up by its existing president and 22-year veteran of the Hawai`i ground transportation industry, Jon Savitz. Jon will report to Robert Kritzman and will work closely with Colin Murphy, NCL's vice president of land and air services.

"After a yearlong evaluation of Hawai`i's passenger transportation industry we are delighted to be concluding this acquisition of Polynesian Adventure Tours," Murphy said. "The company has an impressive list of long-standing clientele that includes most of the major tour wholesalers, local activity sellers and destination management companies. We see this core customer base as a perfect complement to our shore excursion needs and we intend to deploy substantial resources in personnel, motor coaches and technology to make certain that our transportation needs complement theirs."

Polynesian Adventure Tours has extensive fleets in operation on each of O`ahu, Kaua`I, Maui and the Big Island of Hawai`i. The company offers tours of the most popular sites in Hawai`i, including the U.S.S. Arizona Memorial, Haleakala, Hawai`i Volcanoes National Park and Waimea Canyon.

NCL Corporation ("NCL") is an innovative cruise company headquartered in Miami, Florida, with a fleet of 14 ships in service and under construction. The corporation oversees the operations of Norwegian Cruise Line, NCL America, and Orient Lines. On July 4, 2004, NCL made U.S. maritime history when it introduced the reflagged Pride of Aloha, the first modern U.S.-flagged cruise ship in nearly 50 years. The 2,002 passenger ship is 100% U.S.-crewed, and sails year-round in Hawaii under the NCL America brand alongside Norwegian Wind from sister brand, Norwegian Cruise Line. The company is currently building three ships, including two more for the NCL America brand in Hawai`i - Pride of America (delivery in June, 2005) and Pride of Hawai`i (delivery in April 2006). Norwegian Jewel will join the Norwegian Cruise Line fleet in August 2005.

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Posted by Denise at November 18, 2004 09:01 AM
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