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Silversea Announces Appointments To Its Board And Executive Management Team

(Ft. Lauderdale, FL -- March 5, 2008) Silversea Cruise Holding Ltd., the parent company of Silversea Cruises, announced today that Mauro Terrevazzi has joined its board of directors as deputy chairman. For Terrevazzi, the move marks a return to the company he helped establish, having served as a founding officer of Silversea Cruises in the early nineties.

Additionally, the company's president, Amerigo Perasso, has been promoted to chief executive officer of Silversea Cruise Holding Ltd., Silversea Cruises Ltd., and other companies in the Silversea group. He will hold the title of president and chief executive officer.

Manfredi Lefebvre continues as chairman of Silversea Cruise Holding Ltd., in charge of strategic development.

Perasso will work closely with Lefebvre also at the parent company level to support new initiatives and investments in the leisure and tourism sectors developed by Silversea Cruises Group Ltd., the company holding 100% of the shares in Silversea Cruise Holding of which Lefebvre is chairman and CEO.

"It is with great pleasure that we welcome Mauro back to Silversea," said Lefebvre. "I personally started working with him some 35 years ago and our business relationship ceased only briefly during that long period of time. I know his extraordinary expertise will be of enormous benefit to Silversea."

Added Lefebvre, "The promotion of Amerigo to CEO recognizes his many achievements accomplished during his tenure as president, including the completion of a quick and efficient restructuring of the company's financial arrangements, paving the way for Silversea's continued growth and pursuit of new business opportunities."

Terrevazzi brings to the company exceptional expertise developed over a fifty-year career that includes experience in the shipping industry as well as forty years working in the cruise business. He has held top management and board positions for such companies as Vlasov Group, V.Ships, Sitmar, and Regent Seven Seas Cruises, in addition to Silversea.

Perasso's promotion to president and CEO comes thirteen months after his appointment as president. During this period, he is credited with increasing Silversea’s international distribution and presence; implementing a plan to expand the Silversea fleet; and reorganizing management systems and business practices to sustain the company's positioning in the ultra-luxury arena and enhance its growth opportunities. He completed several major transactions such as the signing of a newbuilding contract with the option for a second newbuild, and the acquisition and conversion of World Discoverer (to be renamed Prince Albert II), thus launching a new luxury-expeditionary division under the Silversea brand.

Silversea Cruises is recognized as an innovator in the luxury segment, offering guests large-ship amenities aboard four intimate vessels, Silver Cloud, Silver Wind, Silver Shadow, and Silver Whisper, all designed to offer an atmosphere of conviviality and casual elegance. With the addition of the regal expedition ship Prince Albert II in 2008, the company's itineraries encompass all seven continents. In the U.S., Silversea has been voted "World's Best" by the readers of Condé NastTraveler nine times and six times by the readers of Travel & Leisure. International awards include "World's Leading Luxury Cruise Line" from World Travel Awards (2007); "Five Star Diamond Award" from the American Academy of Hospitality Sciences (2007); "Number One" small-ship line in the Readers' Choice" survey conducted by Britain's Condé Nast Traveller magazine (2007); "Five Anchors" for Gastronomy and Service in Germany's Kreuzfahrt Guide (2007); "Best Small Cruise Line" by Australia's Luxury Travel Magazine (2007); and Best Luxury Cruise Operator according to Asia's Travel Weekly (2007).

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For more information on Silversea Cruises, please contact a travel agent.
For a complimentary brochure, please call toll-free (877) 215-9986 or visit www.silversea.com

Media Contacts:

Brad Ball
(954) 713-4030
bradb@silverseacruises.com

Gina Finocchiaro
(954) 713-4029
ginaf@silverseacruises.com