LASTEST OFFFERS 11 th May 2011 GREAT LATES from ONLY 499 All late offers are on 5% Commission and cannot be advertised above the line.

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1 LASTEST OFFFERS 11 th May 2011 GREAT LATES from ONLY 499 All late offers are on 5% Commission and cannot be advertised above the line. Cruise Code Ship Destination Dep Date Nts Inside Lead Outside Lead Balcony Lead Suite Lead N113 Ventura Spain, Portugal & France 20-May 7 Sold Out Sold Out Sold Out 899 E113 Oceana Atlantic Islands 23-May Sold Out 1,649 Sold Out N114 Ventura Central Mediterranean 27-May ,249 Sold Out 2,899 A113 Azura Baltic 04-Jun ,299 1,299 1,799 E114 Oceana Cruise Break 04-Jun Sold Out X109 Oriana Central Mediterranean 05-Jun Sold Out Sold Out R106 Aurora Spitsbergen & Fjords 06-Jun ,249 1,299 Sold Out E115 Oceana Fjords 11-Jun Sold Out Sold Out Sold Out N115 Ventura Atlantic Islands 13-Jun ,999 A114 Azura Iceland & Fjords 18-Jun 15 Sold Out 999 1,199 1,899 E116 Oceana Western Mediterranean 18-Jun ,299 1,599 Sold Out R107 Aurora Central Mediterranean 20-Jun ,099 1,699 Sold Out X110 Oriana North Cape 21-Jun 14 1,099 1,299 Sold Out Sold Out J104 Arcadia Western Mediterranean 23-Jun 14 1,199 1,399 1,499 Sold Out N116 Ventura Fjords 25-Jun 7 Sold Out ,399 N117 Ventura Western Mediterranean 02-Jul ,049 1,149 Sold Out E117 Oceana Spain, Portugual & France 02-Jul Sold Out 749 Sold Out A115 Azura Baltic 03-Jul ,099 1,249 1,999 X111 Oriana Central Mediterranean 05-Jul 17 1,049 1,199 Sold Out Sold Out R108 Aurora Greenland 06-Jul ,299 1,599 2,199 J105 Arcadia Baltic 07-Jul 14 1,199 1,399 1,499 1,999 E118 Oceana Western Mediterranean 09-Jul ,099 1,349 Sold Out A116 Azura Cruise Break 15-Jul N118 Ventura Fjords 16-Jul ,449 J106 Arcadia Spitsbergen 21-Jul ,299 1,499 1,999 R105 Aurora Central Mediterranean 21-Jul Sold Out Sold Out Sold Out A117 Azura Western Mediterranean 22-Jul 14 1,149 1,299 1,499 2,999 X112 Oriana Central Mediterranean 22-Jul 16 1,199 1,299 2,599 2,749 N119 Ventura Cruise Break 23-Jul Sold Out E119 Oceana Western Mediterranean 23-Jul 14 1,099 1,249 1,349 2,299 R109 Aurora Norway & Fjords 24-Jul ,199 1,799 D106 Adonia Central Mediterranean 26-Jul 21 Sold Out 1,999 2,499 Sold Out N120 Ventura Western Mediterranean 30-Jul 14 1,199 1,349 1,399 1,999 R110 Aurora Western Mediterranean 31-Jul ,099 1,799

2 ABOVE PAGE: PINK: NEW FARES! BLUE: NEW CRUISES THIS WEEK! The BEST VALUE deal... Our cruises featured in the Getaway promotion give your customers the opportunity to book their cruise at a fantastically low fare they just have to pay in full at time of booking and be flexible on their stateroom allocation! EASY! Getaways are now available on the following cruises: Cruise Code Ship Destination Dep Date Nts Lead Inside Lead Outside Lead Balcony Lead Suite D108 Adonia Central Mediterranean 30-Aug 17 2,099 2,099 2,399 4,599 J108 Arcadia Around Britain 18-Aug 13 1,199 1,499 1,499 2,399 J109 Arcadia USA & Canada 30-Aug 24 2,999 2,999 2,999 Sold Out R111 Aurora Central Mediterranean 12-Aug 16 1,199 1,399 1,999 2,499 R113 Aurora USA & Canada 18-Sep 24 2,999 2,999 2,999 4,999 E120 Oceana Cruise Break 06-Aug ,699 E126 Oceana Western Mediterranean 01-Oct ,299 1,499 2,299 E121 Oceana Western Mediterranean 13-Aug 14 1,399 1,699 1,899 2,899 X113 Oriana Northern Cruise 07-Aug 12 1,099 1,199 2,099 2,499 X114 Oriana Central Mediterranean 19-Aug ,099 1,999 2,899 Plus BALCONY GETAWAYS on all AZURA & VENTURA Departures* *All departures in 2011 excluding departures within 8 weeks of travel/late deals! A116 A128a & N118 N132a FREE UPGRADE FROM OUTSIDE STATEROOM TO BALCONY BALCONY STATEROOMS FROM ONLY 719pp!! THIS OFFER WILL EXPIRE 31 st MAY 2011 Special T&C s apply for Getaways please see small print All getaways bookings will automatically have e-docs

NEW & EXCITING GETAWAY PROMOTIONS Oceana Winter Holidays Oriana Winter Holidays Cruise Code Destination Itinerary Dep Date Nts Lead Fare E129 Western Mediterranean Southampton, Lisbon, Valencia,

3 NEW & EXCITING GETAWAY PROMOTIONS Oceana Winter Holidays Oriana Winter Holidays Cruise Code Destination Itinerary Dep Date Nts Lead Fare E129 Western Mediterranean Southampton, Lisbon, Valencia, Rome, Villefranche, Barcelona, 26-Oct Alicante, Gibraltar, Southampton E130 Atlantic Islands Southampton, La Coruna, Madeira, Gran Canaria, Tenerife, Cadiz, 09-Nov Lisbon, Southampton E131 Eastern Mediterranean Southampton, Cadiz, Tripoli, Cairo/Giza, Limassol, Ashdod, Haifa, Athens, Katakolon, 21-Nov 24 1,799 Messina, Valencia, Lisbon, Southampton E132 Atlantic Islands Southampton, Madeira, La Palma, Gran Canaria, Tenerife, Lisbon, 15-Dec 12 1,299 Southampton E133 Atlantic Islands Southampton, Oporto, Tenerife, Gran Canaria, Madeira, Lisbon, Southampton 27-Dec 12 1,299 Special T&C s apply for Getaways please see small print All getaways bookings will automatically have e-docs Cruise Code Destination Southampton, Oporto, Tripoli, Cairo/Giza, Transit Suez Canal, Sharm El Sheikh, Muscat, Dubai Southampton, Oporto, Tripoli, Cairo/Giza, Transit Suez Canal, Sharm El Sheikh, Muscat, Dubai, Mumbai, Cochin, Kuala Lumpur, Singapore Southampton, Oporto, Tripoli, Cairo/Giza, Transit Suez Canal, Sharm El Sheikh, Muscat, Dubai, Mumbai, Cochin, Kuala Lumpur, Singapore, Phu My, Nha Trang, Hong Kong Dubai, Mumbai, Cochin, Kuala Lumpur, Singapore, Phu My, Nha Trang, Hong Kong, Brunei, Bali, Darwin, Whitsunday Islands, Brisbane, Sydney Singapore, Phu My, Nha Trang, Hong Kong, Brunei, Bali, Darwin, Whitsunday Islands, Brisbane, Sydney Hong Kong, Brunei, Bali, Darwin, Whitsunday Islands, Brisbane, Sydney Sydney, Milford Sound, Christchurch, Wellington, Auckland, Bora Bora, Papeete, Honolulu, San Francisco San Francisco, Acapulco, Huatulco, Transit Panama Canal, Curacao, Margarita Island, Barbados, Madeira, Southampton Dep Date Nts Lead Fare 05-Jan 17 1, Jan 27 2, Jan 32 2, Jan 33 3, Feb 23 2, Feb 18 2, Feb 25 2, Mar 24 1,999 Oriana Winter Holiday Getaways include holiday package add on!

4 ALL THESE OFFERS WILL CLOSE TUESDAY 31 st MAY 2011 DON T MISS OUT!! 2011 Departures BALCONY GETAWAY OFFER ON VENTURA & AZURA FREE CAR PARKING & COACH OFFER ON BOARD SPENDING MONEY 2012 Departures FREE CAR PARKING 175 th ANNIVERSARY SAVING OF 10% PENINSULAR CLUB BENEFITS COMPLIMENTARY ON BOARD SPENDING MONEY & SAVINGS FREE CHILD PLACES PAST PASSENGER ON BOARD SPEND Winter Holidays FREE FLIGHTS & TRANSFERS ON LINER VOYAGES

5 2011 Campaign Dynamics Fantastic brochure discounts Brochured on board credit spending money up to 480 per stateroom (based on R118 & X117) Sailaways free car parking or coach transfers on selected roundtrip Southampton voyages: D106 D110, J107 J114, R110 R113, R115 R116, R118 R119, A118 A123, E120 E122, E124 E126, E128 E133, X113 X118, X120, X122, N120 N126 Getaway Promotion Our best price offers continue! Remember these offers have to be paid in full at time of booking and special T&Cs apply. Selection of getaway cruises see your sales pack for full selection of applicable cruises. RUSH TO THE LINE FREE UPGRADE from Outside to balcony on all Azura & Ventura departures will close at the end of the month!! Oceana Ex. Southampton Amazing fares on our winter programme on Oceana from Southampton. Applicable on cruises: E129 E130 E131 E132 & E133 Terms & Conditions On board credit is applicable to first two passengers occupying a cabin and is only applicable to 7 nights or more. Sailaways free car parking/ coach transfers is only applicable to cruises of 7 nights or more for Southampton-Southampton sailings. Separate terms and conditions apply for Getaway promotion. P&O Cruises reserve the right to withdraw offers at any time and all pricing/ discounts are subject to fluid pricing MAY 2011 CAMPAIGNS 2012 Early Spring 2012 Departures Azura/ Ventura Caribbean fly A201-A206a & N201-N205a, Adonia Fly Med D201, Oceana ex. Southampton E201-E204 Fantastic brochure discount ADDITIONAL 10% Discount On Board Spending money up to 350 per stateroom** Sailaways FREE Car Parking/ Coach Transfers on Oceana E202, E203 & E204 Fantastic lead in fares from 1,199 for a Caribbean transatlantic cruise (N205a) Round World Cruise 2012 On board spending money up to 1500 per stateroom*** Fantastic brochure discounts ADDITIONAL 10% Discount COMPLIMENTARY Free Holiday Package Add ons on the below selected Oriana, Aurora and Arcadia liner voyages RUSH TO THE LINE WILL CLOSE 31 MAY 11 R201 J201 SOU/AKL SOU/SYD SOU/BNE AKL/SOU SYD/SOU BNE/SOU SOU/BNE SOU/SYD SOU/JFM BNE/SOU SYD/SOU JFM/SOU SOU/BNE SOU/SYD SOU/AKL BNE/SOU SYD/SOU AKL/SOU Oriana Worldwide Holidays Getaways Fantastic Getaway fares available on a selection of holidays! See your sales pack for full details

SIZZLING SUMMER OFFER FOR SINGLE PASSENGERS ONLY A 25% Single Supplement on 22 Summer Holidays Save up to 530 based on N117 Cruise Code Ship Dep Date Nts Destination A116 Azura 15 th July 2011 7

6 SIZZLING SUMMER OFFER FOR SINGLE PASSENGERS ONLY A 25% Single Supplement on 22 Summer Holidays Save up to 530 based on N117 Cruise Code Ship Dep Date Nts Destination A116 Azura 15 th July France, Spain & Ireland A118 Azura 05 th August Central Med A119 Azura 21 st August Canary Islands D106 Adonia 26 th July Central Med E117 Oceana 02 nd July Spain, Portugal & France E118 Oceana 09 th July Western Med E119 Oceana 23 rd July Western Med E120 Oceana 06 th August Guernsey, France & Spain E121 Oceana 13 th August Western Med N117 Ventura 02 nd July Western Med N118 Ventura 16 th July Fjords N119 Ventura 23 rd July France & Spain N120 Ventura 30 th July Western Med N121 Ventura 13 th August Fjords N122 Ventura 20 th August Western Med R109 Aurora 24 th July Fjords R110 Aurora 31 st July Western Med R111 Aurora 12 th August Central Med X112 Oriana 22 nd July Central Med X113 Oriana 07 th August Baltic X114 Oriana 19 th August Central Med SAVE UP TO 530! (Based on N117) PRICES FROM ONLY 979 (Based on E117 & N119) 100 CABINS PER SAILING AVAILABLE FIRST COME FIRST SERVE DON T MISS OUT! Applicable to new bookings only Not applicable to single staterooms on Azura (RA/ SA grades) Book under FIT deal to get single pricing LIVE FROM THURSDAY 12 TH MAY 2011

FAMILY DEAL OF THE WEEK N118 Ventura 16 th

Flamm, Cruise in Sognefjord, Olden, Cruise in

349 per person for a four share cabin ( 599pp

Based on inside stateroom Prices live from

7 FAMILY DEAL OF THE WEEK N118 Ventura 16 th July Nights Southampton, Stavanger, Flamm, Cruise in Sognefjord, Olden, Cruise in Nordfjord, Bergen, Southampton Prices from 349 per person for a four share cabin ( 599pp for first two pax and 99pp for upper berths) Based on inside stateroom Prices live from Thursday 12 th May 2011 All child age groups are available

8 SCHOOL HOLIDAY AVAILABILITY Age Group Availability Cruise Number Under 2 2 Years 3-7 Years 8 Years 9-12 Years Years Supps Availability A112 V.Limited Good Limited Sold Out Good Good Good A116 Sold Out Good Good Good Good Good Sold Out A117 Sold Out Good Good Good Good Good Good A118 V.Limited Good Limited Limited Good Good Limited A119 V.Limited Good V.Limited Good Good Good Good A120 Limited Good Good Good Good Good Good A121 Sold Out Good Good Good Good Good Good E113 Limited Limited Good Good Good Good Good E117 Limited Limited Good Good Good Good Limited E118 Good Limited Good Good Good Good Good E119 Good Limited Good Good Good Good Sold Out E120 V.Limited V.Limited Sold Out Good Good Good Limited E121 Good Limited Good Good Good Good Good E122 Good Limited Good Good Good Good Good E123 Limited Limited Good Good Good Good Good R108 Limited Good Good Good Good Good Good R109 V.Limited Limited Good Good Good Good V.Limited R110 Sold Out Limited Good Good Good Good Sold Out R111 V.Limited Limited Good Good Good Good Sold Out R112 Limited Good Good Good Good Good Good N114 V.Limited Good Good Good Good Good Good N117 Sold Out Limited Good Good Good Good Good N118 Sold Out Good Good Good Good Good Limited N119 Sold Out V.Limited Sold Out V.Limited Good Good Good N120 Sold Out Good Sold Out Sold Out Limited Good V.Limited N121 Sold Out Good V.Limited V.Limited Good Good Good N122 Sold Out Good Good Limited Good Good Limited N123 Sold Out Limited Good Good Good Good Good X107 V.Limited Limited Good Good Good Good Good X111 V.Limited Good Good Good Good Good Good X112 Limited Limited Good Good Good Good Limited X113 V.Limited Limited Good Good Good Good Good X114 V.Limited Limited Good Good Good Good Good X115 V.Limited Limited Good Good Good Good Good

DEAL NOT TO MISS CRUISE FROM 199pp CHILDREN & 3 rd / 4 th ADULTS FROM ONLY 199pp Available on the following sailings & combinable with all deals: Cruise Ship Dep Date Destination Nts Availability

N118 Ventura 16-Jul-11 Fjords 7 Great! J108 Arcadia 18-Aug-11 Around Britain 13 Mostly 3 berths A120 Azura 02-Sep-11 Central Med 16 Great! N123 Ventura 03-Sep-11 Western Med 12 Great!

9 DEAL NOT TO MISS CRUISE FROM 199pp CHILDREN & 3 rd / 4 th ADULTS FROM ONLY 199pp Available on the following sailings & combinable with all deals: Cruise Ship Dep Date Destination Nts Availability A113 Azura 04-Jun-11 Baltic 14 Great! R106 Aurora 06-Jun-11 Spitsbergen & Fjords 14 Great! A114 Azura 18-Jun-11 Iceland & Fjords 15 Great! A115 Azura 03-Jul-11 Baltic 12 Great! N118 Ventura 16-Jul-11 Fjords 7 Great! J108 Arcadia 18-Aug-11 Around Britain 13 Mostly 3 berths A120 Azura 02-Sep-11 Central Med 16 Great! N123 Ventura 03-Sep-11 Western Med 12 Great! X115 Oriana 04-Sep-11 Spain, Portugal & France 7 Great! E124 Oceana 05-Sep-11 Canary Islands 12 Inside & Outsides X116 Oriana 11-Sep-11 Central Med 16 Great! E125 Oceana 17-Sep-11 Western Med 14 Inside & Outsides R113 Aurora 18-Sep-11 USA & Canada 24 Great! J110 Arcadia 24-Sep-11 Central Med 16 Mostly 3 berths A122 Azura 27-Sep-11 Central Med 17 Great! X117 Oriana 27-Sep-11 Caribbean & USA 34 Great! 199 available to passengers 3 and 4 when sharing a cabin with two full paying adults and utilizing upper berth/ sofa bed Perfect opportunity to advertise a four share price!!!

DEAL OF THE WEEK J103 Arcadia 13 th June 2011 10 Nights New York to Southampton Fly to New York, Newport, Boston, Ponta Delgada, Southampton NEW FARES Prices from 999pp Includes air to

10 DEAL OF THE WEEK J103 Arcadia 13 th June Nights New York to Southampton Fly to New York, Newport, Boston, Ponta Delgada, Southampton NEW FARES Prices from 999pp Includes air to New York & transfers to the ship 5% commission SPECIAL OFFER: 50% SINGLE SUPPLEMENT PLUS NEW FARES... J103 Arcadia 26 th May Nights Los Angeles to Southampton from only 1,499pp

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun Jul