Hong Kong, June 5, 2002 - Star Cruises Limited (SEHK: 678) is pleased to announce the completion of the placement of HK$624 million worth of Star Cruises Shares to institutional, professional and other investors on Monday 3rd June 2002. The top-up subscription will be completed on or before 12th June 2002 upon the Hong Kong Stock Exchange granting listing of the new shares. It is intended that the net proceeds of the top-up subscription will be used for general capital of Star Cruises and the acquisition or construction of vessel(s).

"The successful placement of the shares shows that there is an appetite for cruise companies shares in this part of the world. Star Cruises is the first international cruise line to access the equity market in Hong Kong in a sizable way," Tan Sri Lim Kok Thay, President and CEO of Star Cruises commented. "We are very encouraged by the response to the placement in Hong Kong and I am sure that with more shares in the Hong Kong market the trading volume of the stock will increase in Hong Kong," he added.

Star Cruises is also pleased to announce that it has been granted a license by the Ministry of Transport and Communication of China permitting Star Cruises ships from sailing from Chinese Ports to international destinations. China has exotic destinations around its ports and cruising will bring tourists to these exotic destinations.

"Star Cruises is extremely grateful for the support of the Chinese Ministry of Transport and Communications in granting us this license. It is a show of confidence by the Ministry in Star Cruises in the conduct of cruising and passenger ferry services. This will also open up the cruise industry in China. Star Cruises sees a lot of potential for cruising in China and is very confident that the cruise industry will develop into a multi billion dollar industry in China similar to the experience of the cruise industry in the United States."

The Chinese leisure market is sophisticated and it expects new and modern ships. Star Cruises is currently discussing with a few shipyards on the design of new ships for the Chinese market. Compared to the Star Pisces that is currently operating in Hong Kong, the new ships for China will be bigger in length and breadth, able to carry more passengers, larger percentage of outside cabins and balcony cabins, more restaurant seating, more crew and larger entertainment facilities. "Our experience in Singapore and Hong Kong tells us that we need new and modern tonnages to develop the cruise market. A market cannot develop successfully with old tonnage and that is why we are looking at new ships for the Chinese cruise market," Tan Sri Lim Kok Thay said.

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Star Cruises is the fourth largest cruise line in the world presently operating a combined fleet of 19 ships with over 24,000 lower berths, with cruises to destinations and islands in Asia-Pacific, North and South America, Caribbean, Hawaii, Alaska, Europe, Mediterranean, Bermuda and Antarctica under the Star Cruises, Norwegian Cruise Line, Orient Lines and Cruise Ferries brands. By end 2002, with one ship currently on order, Star Cruises will have over 26,000 lower berths. Star Cruises is represented in more than 20 locations worldwide with offices in Australia, New Zealand, China, Germany, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Norway, Philippines, Singapore, Sweden, Switzerland, Taiwan, Thailand, United Kingdom and the United States of America.

For more information on Star Cruises and NCL, please visit www.starcruises.com and www.ncl.com

For Editorial please contact:

Gerard Lim
Senior Vice President, Chief Executive Office
Kuala Lumpur, Malaysia
Tel : (603) 2030 6013
Fax : (603) 2161 3621
E-mail : gerard@starcruises.com.my

Jane Poh
Vice President, Corporate Communications
Port Klang, Malaysia
Tel : (603) 3109 2526
Fax : (603) 3101 1479
Email : sjpoh@starcruises.com.my