STAR CRUISES SELLS OLDER TONNAGE AS PART OF FLEET MODERNISATION PLANS

SuperStar Aries Redeployed to Thailand.

Star Cruises, "The First Global Cruise Line" and "The Leading Cruise Line in Asia-Pacific" wishes to announce that as part of its long term fleet modernisation programme, the Company will be disposing some old tonnage as it continues to position itself to add more modern megaships. This is in addition to the six that Star Cruises currently operates or is building namely the SuperStar Leo (1998), SuperStar Virgo (1999), Norwegian Sky (2000), Norwegian Sun (2001), SuperStar Libra (2001) and SuperStar Scorpio (2002).

In line with the modernisation, the 40,000-grt Star Aquarius has been sold and will be delivered to her new owner in Laem Chabang, Bangkok end February 2001. The Group is in advanced discussions with a number of shipyards for new buildings for delivery post-2002.

"Our current newbuilding programme and our intention to place additional orders will allow us to consolidate the strong market positions both our major brands have established in their respective markets, and in particular to advance the "Freestyle Cruising" concept which Star Cruises has pioneered and which NCL has now successfully introduced to the North American market," said Dato' KT Lim, Chairman and President & Chief Executive of Star Cruises.

At 40,000-grt, Star Aquarius which is currently homeported in Laem Chabang, Bangkok, Thailand is the first of two ships bought by Star Cruises in 1993. Together with its twin sister ship, Star Pisces, she has served the Star Cruises Group well, being a pathfinder ship that has enabled Star Cruises to open up and pioneer the cruise market and industry in Asia-Pacific from its first homebase in Singapore.

SuperStar Aries which is currently homeported in Fukuoka, Japan will be repositioned to Laem Chabang to fill the slot made available with the departure of Star Aquarius. With the departure of SuperStar Aries from Fukuoka, SuperStar Taurus will be repositioned from Kobe to Fukuoka to commence cruises from April 5th, 2001. SuperStar Aries is scheduled to arrive in Laem Chabang in mid-April, 2001.

MORE ON SUPERSTAR ARIES
Formerly the MS Europa, SuperStar Aries was rated "The Best Cruise Ship in the World" in 1997 by the authoritative Berlitz Complete Guide to Cruising and Cruise Ships. At 37,000-grt, 200m in length and 28.5m in width, SuperStar Aries has 339 cabins with a capacity for 700 passengers. She has luxurious interior, first-class recreation facilities, piano and show lounges, elegant food and beverage outlets, having undergone a US$20 million refit and refurbishment exercise.

MORE ON "FREESTYLE CRUISING"
Freestyle Cruising is an innovative vacation concept that transforms the traditional regimented cruise into a far more personal, unique experience. This concept will provide passengers the flexibility in dining options i.e. choosing when, where and with whom to dine with, attire and lifestyle activities in a more relaxed resort-style atmosphere. An automated tipping policy is practised where passengers are not asked to tip in cash at the end of the cruise but instead, recommended amounts are charged to a passenger's bill and can be adjusted by the passenger as appropriate.

MORE ON STAR CRUISES
Star Cruises is the fourth largest cruise line in the world operating a combined fleet of 20 ships with over 20,000 lower berths, with cruises to destinations and islands in Asia-Pacific, North and South America, Caribbean, Alaska, Europe, Mediterranean, Bermuda and Antarctica. By end 2002, with the three ships currently on order, Star Cruises with Norwegian Cruise Line (NCL) will have about 28,000 lower berths. Star Cruises is represented in more than 25 locations worldwide with offices in Australia, China, Germany, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, Sweden, Taiwan, Thailand, United Kingdom and the United States of America.