FIRST DESIGN DETAILS OF THE NEW OCEANIA-CLASS

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OCEANIA CRUISES RELEASES FIRST DESIGN DETAILS OF THE NEW OCEANIA-CLASS

Miami, FL, February 27, 2008 – Oceania Cruises is pleased to announce the first design details of its new Oceania-Class ships that are scheduled for delivery in 2010 and 2011. The ships, to be constructed in Fincantieri's Sestre Ponente shipyard in Genoa, Italy, have been designed by the world's foremost architects of luxury ships, Y&S Architecture and Interior Design of Oslo, Norway. Y&S has been retained to design all of the public spaces, suites and staterooms, and Gunnar Aaserud, a Partner and Executive Architect at Y&S, who has done extensive work on the line's Regatta-Class ships, is leading the design team for the Oceania-Class.

The new Oceania-Class has been designed with all the signature elements that guests and travel agents cherish, and the décor will be imbued with the same warmth and charm that the Regatta-Class is renowned for. Signature public spaces will include Martinis, Horizons, The Patio, and a Grand Staircase that sweeps up both sides of the lobby. The color palette will feature a mixture of dulcet tones which will be accented and offset by earthen and jewel tones, while an eclectic assemblage of furnishings and accent pieces will create a warm, welcoming atmosphere that more closely resembles that of a fine home or manor.

"One of the hallmarks of the Oceania Cruises Experience is the refined yet relaxed atmosphere onboard and that is something that will continue with our new ships. Guests will experience the same intimate ambiance as our current ships, and the staff to guest ratio will be even greater, resulting in an even higher level of personalized service onboard," stated Bob Binder, President of Oceania Cruises.

The new ships will be awash in rich, dark woods, Italian marble, lustrous granite, fine wool carpets and sumptuous leather. No expense is being spared to create an array of spacious, yet intimate public spaces and luxurious staterooms and suites.

"These new ships are a very personal expression of this brand as many members of our team are personally involved in the selection of furnishings, fabrics, artwork and the thousands of minute details that make the difference between an ordinary ship and a masterpiece," stated Frank Del Rio, Chairman and CEO of Prestige Cruise Holdings.

The new ships will accommodate 1,252 guests in 626 staterooms and suites who will be served by more than 780 staff members. 96% of all accommodations will feature private teak verandas and guests will dine in their choice of six open seating restaurants.

Additional details on the ships' public spaces, accommodations and dining venues will be revealed in the future.

Deck-by-Deck Highlights:

Deck 15

    * Horizons – observation lounge and nightclub
    * Sports Deck

Deck 14

    * Spa and Fitness Center
    * The Patio
    * Library
    * Polo Grill - classic steakhouse
    * Toscana - gourmet Italian restaurant

Deck 12

    * Guest Suites
    * Culinary Arts Center
    * Enrichment Center
    * Waves Bar
    * Swimming Pool and Jacuzzis
    * Waves Grill & Milkshake Bar
    * Private Dining Rooms, Wine Cellar and Veranda
    * Terrace Café - casual buffet restaurant

Decks 11 through 7

    * Guest Staterooms and Suites

Deck 6

    * Upper Hall
    * Martinis
    * Casino
    * Card Rooom
    * Grand Bar
    * Grand Dining Room - Continental Cuisine

Deck 5

    * Main Lounge
    * Reception Hall and Lounge
    * French Restaurant - country French cuisine
    * Asian Restaurant - a fusion of Asian cuisines

The Oceania-Class represents an evolution of the line's extremely popular Regatta-Class ships. This new class of mid size cruise vessels will retain all of the warmth, popular design elements and signature amenities of the Regatta-Class while affording guests an additional level of comfort, convenience and many new luxury amenities. Designed to cruise to all corners of the globe, the new ships will boast a cruising speed 20% faster than the Regatta-Class. In addition to their greater speed, the new ships will have a greater range that enables them to undertake the itineraries to virtually any destination worldwide.
Oceania-Class Facts:
Oceania Class I:    Debuts Fall 2010
Oceania Class II:    Debuts Summer 2011
Guest Capacity:    1,252 (Double Occupancy)
Tonnage:    66,000 - estimated
Builder:    Fincantieri; Sestre Ponente, Italy
Length:    782 feet
Width:    105 feet
Draft:    24 feet
Cruising Speed:    20 knots
Propulsion:    Diesel Electric, 2 controllable pitch propellers
Restaurants:    Six Open Seating Restaurants
Accommodations:    626 Guest Staterooms and Suites:

    * 4 Owner's Suites
    * 6 Vista Suites
    * 10 Oceania Suites
    * 120 Penthouse Suites
    * 440 Veranda Staterooms
    * 20 Ocean View Staterooms
    * 26 Inside Staterooms


Oceania-Class

Side Profile of the New Oceania-Class see below

About Oceania Cruises

Oceania Cruises® is the world's only upper-premium cruise line and offers a unique combination of the finest cuisine at sea, luxurious accommodations, exceptional personalized service and extraordinary value. As the leader in destination cruising, Oceania Cruises sails to more than 180 ports in Europe, Australia, New Zealand, Asia, South America, and the Caribbean. Featuring three intimate and elegant mid-sized ships, Regatta, Insignia and Nautica, the line will introduce two new mid-size Oceania Class ships to its award-winning fleet in 2010 and 2011. For additional information, to make a reservation, or to order a brochure, please contact your Travel Agent or Oceania Cruises at 800-531-5658. Visit us at OceaniaCruises.com.
About Prestige Cruise Holdings:

Prestige Cruise Holdings (PCH) is a subsidiary of Apollo Management L.P. and the parent corporation of Oceania Cruises and Regent Seven Seas Cruises. Formed in 2007 to manage select assets in Apollo Management's cruise investment portfolio, PCH is led by Chairman and Chief Executive Officer Frank J. Del Rio, the founder of Oceania Cruises. PCH is the market leader in the Upper Premium and Luxury segments of the cruise industry with more than 4,450 berths between the Regent Seven Seas and Oceania Cruises brands, a number the company expects will grow to more than 6,700 berths by 2011.