RNS Number:1301Z
UBS Warburg(EMM)
25 July 2002


FORM 38.5 (SUMMARY)
Lodge with Company Announcements Office and the Panel. Use a separate form for each class of securities in which
dealings have been made.

                                         CONNECTED EXEMPT MARKET-MAKERS:


DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS

Name of EMM                  UBS WARBURG
                             ....................................................................................
Date of disclosure           25 July 2002
                             ....................................................................................
Contact Name                 Bianca Brown
                             ....................................................................................
Telephone number             020-7568 9658
                             ....................................................................................

Please see attached disclosure of dealings under Rule 38.5 in the securities of the following companies:

P&O Princess Cruises Plc

P&O Princess Cruises Plc - Contract for Difference

Gullane Entertainment Plc

HIT Entertainment Plc




                                     _______________________________________
AMENDMENT

If the attached Rule 38.5 disclosure is to amend a previous disclosure, please state which element(s) of previous
disclosure was incorrect:

........................................................................
...................................................................

In the case of option business or dealings in derivatives full details should be given on a separate sheet so
that the nature of the dealings can be fully understood. For options this should include the number of securities
under option, the exercise period (or in the case of exercise, the exercise date), the exercise price and any
option money paid or received. For derivatives this should include, at least, the number of reference securities
to which they relate (when relevant), the maturity date (or if applicable the closing out date) and the reference
price.

For full details of disclosure requirements see Rules 8 and 38 of the Code. If in doubt contact the Monitoring
Section of the Panel, Tel No: 020-7638 0129.



                                                                                                 FORM 38.5

                                     CONNECTED EXEMPT MARKET-MAKERS:

                   DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Dealing in                 P&O PRINCESS CRUISES                             (name of company)

                           ...........................................
Class of Security          ORD USD 0.50

                           ...............................................................
Date of disclosure         25-Jul-02

                           ...............................................................
Date of dealing            24-Jul-02

                           ...............................................................
Name of EMM                UBS WARBURG

                           ...............................................................

Name of offeree / offeror with whom connected              CARNIVAL CORP

                                                            ....................................
Total Number of securities bought           295,233

                                            ........................
Highest price paid*                         341 GBP

                                            ........................
Lowest price paid*                          361.14 GBP

                                            ........................
Total number of securities sold             1,008,775

                                            ........................
Highest price received*                     338 GBP

                                            ........................
Lowest price received*                      360 GBP



                                                                                                 FORM 38.5

                                     CONNECTED EXEMPT MARKET-MAKERS:

                   DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Dealing in                 HIT ENTERTAINMENT                                (name of company)

                           ...........................................
Class of Security          ORD GBP 0.2

                           ...............................................................
Date of disclosure         25-Jul-02

                           ...............................................................
Date of dealing            24-Jul-02

                           ...............................................................
Name of EMM                UBS WARBURG

                           ...............................................................

Name of offeree / offeror with whom connected              HIT ENTERTAINMENT

                                                            ....................................
Total Number of securities bought           2,186

                                            ........................
Highest price paid*                         231.23 GBP

                                            ........................
Lowest price paid*                          231.23 GBP

                                            ........................
Total number of securities sold             2,284

                                            ........................
Highest price received*                     235 GBP

                                            ........................
Lowest price received*                      235 GBP




                                                                                                 FORM 38.5

                                     CONNECTED EXEMPT MARKET-MAKERS:

                   DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Dealing in                 GULLANE ENTERTAINMENT                            (name of company)

                           ...........................................
Class of Security          ORD GBP 0.2

                           ...............................................................
Date of disclosure         25-Jul-02

                           ...............................................................
Date of dealing            24-Jul-02

                           ...............................................................
Name of EMM                UBS WARBURG

                           ...............................................................

Name of offeree / offeror with whom connected              HIT ENTERTAINMENT

                                                            ....................................
Total Number of securities bought           2,000

                                            ........................
Highest price paid*                         400 GBP

                                            ........................
Lowest price paid*                          400 GBP

                                            ........................
Total number of securities sold             0

                                            ........................
Highest price received*                     0 GBP

                                            ........................
Lowest price received*                      0 GBP



                                                                                                  FORM 38.5

                                      CONNECTED EXEMPT MARKET-MAKERS:

                   DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Dealing in             P&O PRINCESS CRUISES ..........                      (name of company)

Class of Security      CONTRACT FOR DIFFERENCE

                       ...........................................................................
Expiry                 06-March-03

                       ...........................................................................
Client                 SOLD TO CLOSE

                       ...........................................................................
Date of disclosure     25-Jul-02

                       ...............................................................
Date of dealing        24-July-02

                       ...............................................................

Name of EMM            UBS WARBURG ........................................................................

Name of offeree / offeror with whom connected                 CARNIVAL CORP

                                                              ....................................
Total Number of securities bought                   177,800

                                                    ........................
Highest price paid*                                 351.38 GBP

                                                    ........................
Lowest price paid*                                  351.38 GBP

                                                    ........................
Total number of securities sold                     0

                                                    ........................
Highest price received*                             0 GBP

                                                    ........................
Lowest price paid*                                  0 GBP


                                                                                                  FORM 38.5

                                      CONNECTED EXEMPT MARKET-MAKERS:

                   DISCLOSURE UNDER RULE 38.5 OF THE CITY CODE ON TAKEOVERS AND MERGERS


Dealing in             P&O PRINCESS CRUISES ..........                      (name of company)

Class of Security      CONTRACT FOR DIFFERENCE

                       ...........................................................................
Expiry                 19-March-03

                       ...........................................................................
Client                 SOLD TO CLOSE

                       ...........................................................................
Date of disclosure     25-Jul-02

                       ...............................................................
Date of dealing        24-July-02

                       ...............................................................

Name of EMM            UBS WARBURG ........................................................................

Name of offeree / offeror with whom connected                 CARNIVAL CORP

                                                              ....................................
Total Number of securities bought                   342,200

                                                    ........................
Highest price paid*                                 351.38 GBP

                                                    ........................
Lowest price paid*                                  351.38 GBP

                                                    ........................
Total number of securities sold                     0

                                                    ........................
Highest price received*                             0 GBP

                                                    ........................
Lowest price paid*                                  0 GBP




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