Royal Caribbean

| |Royal Caribbean Cruises Ltd. |

Memo

To: Jack Williams, President and Chief Operating Officer (COO)

From: Tom Murphy, CIO and VP Information Technology

CC: Jakob Iverson

Date: 7/10/2003

Re: Royal Caribbean Cruises Ltd. IT recommendations

Jack,

As the events of 9/11 unfolded, we have learned as an organization to enhance our focus on both costs and efficiency. Specifically, the IT group has learned to respond quickly by breaking our holistic goals into smaller projects and spreading them over a longer period of time thus contributing favorably to our cash flow objectives. It is important to remain aligned with our company goals. We have reduced IT costs during these unfortunate times, however, we need to be prepared for upcoming expansion. As a result, we need to create an infrastructure that is flexible and offers ease of use for our customers, that supports our core services, and continues to focus on centralization. At the same time, we can provide additional corporate value by decreasing costs due to our consolidating and centralizing efforts. I have listed below my recommendations for the upcoming 2004 IT budget.

RCCL has historically lacked standardization and managed cost controls that our number one competitor has instituted. Although we have embraced standardization and cost controls, we must continue efforts in this area. I propose we position ourselves within the market such that we can leverage our IT efforts to take advantage of post 9/11 affects that will positively contribute to our P&L. To accomplish this, I recommend the following:

We continue to remain aligned with our current objectives of enhancing customer travel experience, reducing costs, and increasing revenue by staying within our forecasted budgeted amounts. With that being...