Norwegian Cruise Line Holdings Appoints Two New Members to Its Board of Directors

Russell W. Galbut and Chad A. Leat Bring Extensive, Diverse Experience to Company's Board

MIAMI, Nov. 16, 2015 (GLOBE NEWSWIRE) -- Norwegian Cruise Line Holdings Ltd. (Nasdaq:NCLH) together with NCL Corporation Ltd., "Norwegian Cruise Line Holdings", "Norwegian" or the "Company", today announced two new independent members have been appointed to the Company's Board of Directors (the "Board").

Mr. Russell W. Galbut, Managing Principal of Crescent Heights, one of America's largest and most respected residential developers of quality condominiums, and Mr. Chad A. Leat, retired Vice Chairman of Global Banking at Citigroup Inc., joined the Board effective November 11, 2015. Mr. Galbut and Mr. Leat fill two formerly vacant director seats, resulting in a full Board comprised of 11 members.

"It is my pleasure to welcome Russell and Chad to our board of directors," said Walter L. Revell, chairman of the Board. "Our board is committed to recruiting the best leaders across business disciplines and with diverse backgrounds that will support Frank and his team in continuing Norwegian's successful track record."

"The extensive knowledge and experience that Russell and Chad bring to our board will be invaluable," said Frank J. Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings and a member of the Company's Board. "Each will offer fresh perspectives and contribute to the development of Norwegian's short and long-term growth strategies for delivering industry-leading returns and building shareholder value," continued Del Rio.

In addition to their appointment to the Board, Mr. Leat was also appointed to the Audit Committee of the Board, where he will serve as Chairperson, and Mr. Galbut to the Compensation Committee of the Board.

About Russell W. Galbut

Russell W. Galbut currently serves as the Managing Principal of Crescent Heights, one of America's largest and most respected residential developers of quality condominiums. Having been active in the urban mixed-use real estate sector for over 30 years, Mr. Galbut and Crescent Heights are a "best in class" developer with a successful track record of new constructions and renovations. Crescent Heights has been active in over 15 markets from coast-to-coast and has developed over 50,000 residential units, including pioneering the condo hotel concept. After graduating from Cornell University School of Hotel Administration, Mr. Galbut became a Florida licensed CPA (currently inactive). In 1980, Mr. Galbut received his J.D. degree from the University of Miami School of Law. Mr. Galbut served as a member of the Board of Directors of Prestige Cruises International, Inc. or its predecessor from September 2005 until Norwegian Cruise Line Holdings Ltd.'s acquisition of Prestige in November 2014. He also previously served on several charitable boards, and serves on the Dean's Advisory Board for the Cornell University School of Hotel Administration.

About Chad A. Leat

Chad A. Leat is a retired Vice Chairman of Global Banking at Citigroup Inc., and has nearly thirty years of markets and banking experience on Wall Street. He is a leader and innovator in corporate credit and M&A finance. Mr. Leat joined Salomon Brothers in 1997 as a partner in High Yield Capital Markets, which became Citigroup in 1998, from where he retired in 2013 as Vice Chairman of Global Investment Banking. Over the years he served on the firm's Investment Banking Management Committee, the Fixed Income Management Committee and the Capital Markets Origination Committee. From 1998 until 2005 he served as the Global Head of Loans and Leveraged Finance. He grew this business from a small second-tier position to one of the largest loan and high-yield businesses on Wall Street. During the financial crisis, Mr. Leat helped Citigroup work through many challenging risk, regulatory and client issues.

Mr. Leat began his career on Wall Street at The Chase Manhattan Corporation in their Capital Markets Group in 1985 where he ultimately became the head of their highly successful Syndications, Structured Sales and Loan Trading businesses. This group was on the cutting edge of the fast-developing loan market and Mr. Leat was one of a handful of market professionals associated with the development and creation of this now vibrant capital market.

Mr. Leat serves on the Board of Directors and as Chairman of the Audit Committee of Pace Holdings Corp. Mr. Leat serves on the Supervisory Board of Directors of BAWAG P.S.K. and is the Chairman of the Audit Committee. He is Chairman of the Board of Directors of MidCap Financial, PLC, a middle-market direct commercial lending business. He is Chairman of the Board of Directors of HealthEngine LLC, a healthcare technology company that provides platforms for consumers to better understand and directly control their healthcare spending. Previously, Mr. Leat served on the Board of Directors of Global Indemnity, PLC, a Dublin-based provider of property and casualty insurance from 2009 to 2015.

Mr. Leat is dedicated to many civic and philanthropic organizations. He is a member of the Economic Club of New York and has served on the boards of several charitable organizations. Currently, he is a member of the Board of Directors of The Hampton Classic Horse Show and is a Trustee of the Parrish Museum of Art. Mr. Leat is a graduate of the University of Kansas, where he received his Bachelors of Science degree.

About Norwegian Cruise Line Holdings Ltd.

Norwegian Cruise Line Holdings Ltd. (Nasdaq:NCLH) is a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands.

With a combined fleet of 22 ships with approximately 45,000 berths, these brands offer itineraries to more than 520 destinations worldwide. The company will introduce five additional ships through 2019.

Norwegian Cruise Line is an innovator in cruise travel with a history of breaking the boundaries of traditional cruising, most notably with the introduction of "Freestyle Cruising," which revolutionized the industry by giving guests more freedom and flexibility. Norwegian Cruise Line offers The Haven, a luxury enclave with suites, private pools and dining, concierge service and personal butlers. Oceania Cruises offers immersive destination experiences with destination-rich itineraries spanning the globe and the finest cuisine at sea. Regent Seven Seas Cruises is an all-inclusive luxury cruise line which provides all-suite accommodations, round-trip air, highly personalized service, acclaimed cuisine, fine wines and spirits, Wi-Fi, sightseeing excursions in every port and other amenities included in the cruise fare.


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