Exhibit 99.1

                      (AMERICAN CLASSIC VOYAGES CO. LOGO)



FOR IMMEDIATE RELEASE                                 CONTACTS:
                                                      Randall Talcott
                                                      312-466-6033 phone
                                                      randy.talcott@amcv.com


                         AMERICAN CLASSIC VOYAGES CO.'S
              SECURITIES TO BE DELISTED BY THE NASDAQ STOCK MARKET


                  MIAMI, NOVEMBER 20, 2001 -- American Classic Voyages Inc.,
(NASDAQ: AMCVQ), a U.S.-flag cruise company, today announced that it was
notified by Nasdaq Listing Qualifications Staff that the Company's Common Stock
and Trust Preferred Securities would be delisted from The Nasdaq Stock Market,
effective November 22, 2001. The Nasdaq Listing Qualifications Staff indicated
that these securities would be delisted due to the Company's October 19, 2001
filing under Chapter 11 of the U.S. Bankruptcy Code as well as the Company's
failure to demonstrate sustained compliance with all requirements for continued
listing on The Nasdaq Stock Market. The Company will not protest the delisting.

The company announced on October 19, 2001, that it had filed a voluntary
petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the
United States Bankruptcy Court for the District of Delaware (Case No. 01-10954).
Since then, the Company has been operating only one vessel, the DELTA QUEEN
steamboat, under the protection of the Bankruptcy Court while it pursues
restructuring alternatives.

The company has established a customer information hotline (800-856-9904), and
additional information is available on the company's Web site at www.amcv.com.
Individuals with deposits on future American Classic cruises other than the
DELTA QUEEN steamboat should contact Logan and Co., Inc. for information about
registering a claim via fax (973-509-1131) or mail (546 Valley Road, Upper
Montclair, NJ 07043).

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NOTE: The statements in this press release relating to matters that are not
historical facts are forward-looking statements. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors, which may
cause the actual results, performances or achievements of American Classic
Voyages Co. to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements. Such
factors include construction delays, complications or cost overruns in
connection with the construction of new vessels; increases in cruise industry
capacity and competition, as well as general business and economic conditions
which may impact passenger yields and demand for the Company's products;
unscheduled repairs and/or dry-dockings of the Company's vessels; the inability
to obtain sufficient capital on commercially acceptable terms or generate
sufficient funds from operations to finance the Company's expansion plans and
ongoing operations; successful completion of expansion plans, including the
construction of new vessels; the impact of changes and/or repeal of laws and
implementation of government regulations, and other factors which are described
in further detail in American Classic Voyages' filings with the Securities and
Exchange Commission.

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