Royal Caribbean Defers Radiance-Class Options

January 10, 2003

Royal Caribbean is deferring options to build its fifth and sixth
Radiance-class ships. The options were due to have expired today. The ships
were originally slated for delivery in 2005 and 2006. Currently, Royal
Caribbean's "Radiance" style includes the original Radiance of the Seas,
launched in 2001, and Brilliance of the Seas, which was inaugurated last
summer. Serenade of the Seas, the newest model, is anticipated for a debut
this autumn. A fourth Radiance-class ship is scheduled for delivery in 2004.
The options extension gives Royal Caribbean until September 19 to make a
final decision.