NCL CORPORATION LTD. ANNOUNCES EXPIRATION OF ITS CHANGE OF CONTROL OFFER FOR 10 5/8% SENIOR NOTES DUE 2014

Financial Press Release

MIAMI - March 7, 2008 - NCL Corporation Ltd. ("NCL" or the "Company") announced today that it completed its previously announced cash tender offer (the "Change of Control Offer to Purchase"), for any and all of its outstanding 10 5/8% Senior Notes due 2014 (CUSIP No. 62886HAC5) (the "Notes").

The Change of Control Offer to Purchase was made solely to fulfill the Company's obligations under the indenture governing the Notes following the previously announced investment by affiliates of Apollo Management, LP, on January 7, 2008, resulting in a "change of control". The Change of Control Offer to Purchase, which commenced on February 5, 2008, expired at 12:01 a.m., New York City time, on Friday, March 7, 2008 (the "Expiration Date"). The Company intends to pay for all Notes delivered pursuant to the Change of Control Offer to Purchase on Wednesday, March 12, 2008.

As of the Expiration Date, $240,187,000 in aggregate principal amount of the Notes representing approximately 96% of the then outstanding Notes had been delivered for repurchase pursuant to the Change of Control Offer to Purchase . All Notes validly delivered and not withdrawn with respect to the Change of Control Offer to Purchase were accepted for payment.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful.

About NCL Corporation
NCL Corporation Ltd. is the holding company for various subsidiary companies involved in owning and operating the ships of Norwegian Cruise Line.

NCL is building two new third generation Freestyle Cruising ships for delivery in 2010. NCL today has the youngest fleet in the industry, providing guests the opportunity to enjoy the flexibility of Freestyle Cruising on the newest, most contemporary ships at sea, and has recently added its latest new ship, the 2,400 passenger Norwegian Gem.

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