Another Dufry coup as NCL Corporation expands partnership with Flagship Retail Services – 10/12/04

US. NCL Corporation is expanding its relationship with Dufry-owned gift shop concessionaire Flagship Retail Services and including Colombian Emeralds International in its newest onboard retail programme.

Flagship, which has operated the gift shops on board Norwegian Sun, Norwegian Star and Norwegian Spirit since 2001, will add four more ships to its roster – Norwegian Wind, Norwegian Majesty, Norwegian Crown and Norwegian Dream.

“Our goal is to develop the world’s best shipboard retail programme and maximise customer satisfaction,” said NCL Corp President and CEO Colin Veitch.

“Dufry and Colombian Emeralds have a proven track record of superior customer service, strong merchandising skills and the capability to supply a broad array of popular products for our guests. We look forward to our continued partnership.”

Colombian Emeralds International, which operates a chain of more than 40 luxury duty free jewellery stores throughout the Bahamas and the Caribbean, will join this venture and will continue to be offered onboard NCL’s fleet. Flagship will provide NCL’s guests with a wide selection of fine jewellery, watches, logo items, fragrances, liquor, tobacco, fine china, electronics, gift items and necessities. NCL will transition the ships to Flagship by April 2005.

“Through our relationship with NCL we have generated significant revenue growth year after year and have been able to maximise our efficiencies,” said Dufry Holding CEO Julian Diaz Gonzalez. “We are proud to play a role in NCL’s concession operations and are thrilled to grow our business on board these additional vessels.”

Besides Flagship, Colombian Emeralds International has partnered with Dufry in Cancún, Mexico and on the island of Trinidad. It also represents a significant portion of the business generated by DFC (Duty Free Caribbean).

Colombian Emeralds International President and CEO Stephen Crane said: “Colombian Emeralds International is pleased to join with NCL and Dufry, two world-class leaders, to further enhance the onboard luxury retail shopping experience. Flagship Retail Services’ growth with NCL is a wonderful opportunity for the Colombian Emeralds International brand.”

BACKGROUND: NCL Corporation is a cruise company headquartered in Miami, Florida, with a fleet of 14 ships in service and under construction. The corporation oversees the operations of Norwegian Cruise Line, NCL America and Orient Lines. The company is currently building three ships, including two more for the NCL America brand in Hawaii – Pride of America (delivery in June 2005) and Pride of Hawaii (April 2006). Norwegian Jewel will join the NCL fleet in August 2005.

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