BURLINGTON, MA, June 22, 2004—Princess Cruise Lines has implemented the Cognos Enterprise Planning (EP) solution and will present their success story at Cognos Forum on June 28 2004. Working with Cognos (NASDAQ: COGN; TSX: CSN) the world leader in enterprise business intelligence (EBI) and corporate performance management solutions (CPM), Princess Cruise Lines has improved overall financial reporting processes. Princess Cruise Lines will present their successful solution at Cognos Forum on June 28th in Orlando, Florida.

As one of the leading cruise lines in the world, Princess Cruises Lines needed a planning solution that would enable them to aggregate data quickly and accurately, allow employees to analyze data and look at the "what-ifs", be flexible enough to quickly update models based on the business climate, and provide their senior management with greater business visibility. With the Cognos EP solution, Princess has been able to reduce some financial reporting processes from days to just minutes, create an ongoing monthly forecasting process, and provide data transparency allowing visibility into all levels and departments of the business.

"The Cognos solution has given us increased visibility into our business operations and based on our success to date we are continuing to broaden our Cognos deployment throughout the enterprise with Cognos solutions in our human resources and boutiques operations," said Greg Bozigian, director of financial planning, Princess Cruise Lines. "Cognos has allowed the financial planning team to eliminate the time required to summarize spreadsheets and utilize that time for more value-added analysis. In addition, senior management now receives information in a timely manner, which allows them to make the operational and strategic decisions that guide the company."

"We are very pleased to showcase the tremendous success that Princess Cruise Lines has had with Cognos," said Doug Barton, vice president, enterprise planning, Cognos. "The Cognos Enterprise Planning solution enables Princess Cruise Lines to operate efficiently and effectively and remain to agile in a swiftly changing market."

For more details on Cognos Forum 2004, or to register, please visit http://www.cognos.com/cognosforum/index.html.