Walt Disney Parks and Resorts. Fact Sheet. Walt Disney Parks and Resorts is where dreams come true and magic comes to life.

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WALT DISNEY PARKS AND RESORTS Walt Disney Parks and Resorts Fact Sheet ~t.r't>fsnef Parks and Resorts www.disneyparks.com Contact: Walt Disney Parks and Resorts Media Relations 818-560-7375 Walt Disney Parks and Resorts is where dreams come true and magic comes to life. Its story began more than 50 years ago when Walt Disney - already one of the most celebrated filmmakers in America - dreamed up a new kind of family entertainment. Walt got the inspiration for this new venture after taking his daughters to local Southern California amusement parks on the weekends. He found himself bored, sitting on a bench with nothing to do while his daughters played. Happy cast members at Hong Kong Walt wanted to create an entirely new kind of place Disneyland - Disney's newest theme park - one that families could experience together, - which opened in September 2005 immersed in an atmosphere rich in detail and storytelling. His vision be ~ame Disneyland, The Happiest Place on Earth (and the place where dreams come true). From the moment it opened, on July 17, 1955, Walt's new park was a sensation, going on to become a global icon that has literally defined and shaped the modern theme park industry for more than a half-century. Out of Disneyland grew a collection of 11 Disney theme parks at five of the world's leading family vacation destinations. Dedicated to providing the best in innovative and immersive family entertainment, today these destinations constitute the cornerstone of the Walt Disney Parks and Resorts portfolio: Disneyland Resort, Anaheim, Calif. Walt Disney World Resort, Lake Buena Vista, Fla. Tokyo Disney Resort, Urayasu, Chiba, Japan Disneyland Resort Paris, Marne-la-Vallee, France Hong Kong Disneyland Resort, Lantau Island, Hong Kong, China Mickey and friend share a magical moment In addition to theme parks and resorts, Walt Disney Parks and Resorts (WDP&R) also includes the world-class Disney Cruise Line, with two ships - the Disney Magic and the Disney Wonder; the Disney Vacation Club, with seven resorts and more than 100,000 member families ; Disney Regional Entertainment, which operates the eight ESPN Zone sports dining and entertainment centers; Adventures by Disney, a story-based, guided group vacation program that takes guests to some of the world's most popular travel destinations; the World of Disney stores in New York, Orlando and Anaheim; and Walt Disney lmagineering, which creates and designs all Disney parks, resorts and attractions.

A Truly Global Success In fall 2006, Walt Disney Parks and Resorts concluded The Happiest Celebration on Earth, which commemorated the 50th anniversary of Disneyland in California. This successful global celebration brought exciting new attractions and spectacular entertainment shows to Disney parks around the world, as well as the opening of Disney's first theme park in China - Hong Kong Disneyland. Some of the major new attractions and entertainment that debuted during the celebration include: Expedition Everest- a thrilling journey through the Himalayas in a runaway mountain train (Walt Disney World Resort) Soarin'- a breathtaking adventure where guests take flight over California (Walt Disney World Resort) Lights, Motors, Action! Extreme Stunt Show- a high-octane look at the secrets behind Hollywood's most astounding stunts (Walt Disney World Resort) Monsters, Inc.: Mike & Sully to the Rescue! - a comical adventure based on the hit Disney Pixar film (Disneyland Resort) Buzz Lightyear Astro Blasters- an interactive intergalactic space mission in which guests are paired with players online at home (Disneyland Resort) Tower of Terror- a thrilling ride aboard a haunted elevator (Tokyo Disney Resort) Raging Spirits - a high-speed adventure through special effects featuring fire and water (Tokyo Disney Resort) Buzz Lightyear Laser Blast- another exciting intergalactic space mission based on the hit "Toy Story" films (Disneyland Resort Paris) Wishes - a dramatic combination of glittering fireworks and Disney music, which lit up the skies in 2005\ (Disneyland Resort Paris) Disney's Rock Around the Mouse - a live show and parade saluting the fabulous 1950s, in honor of Disneyland's 50th anniversary (Tokyo Disney Resort) Disney Parks Are 'Where Dreams Come True' Monsters, Inc.: Mike & Su/ley to the Rescue!, which opened in January 2006 at Disney's California Adventure Buoyed by the groundbreaking success of The Happiest Celebration on Earth, in October 2006 Walt Disney Parks and Resorts embarked on a new worldwide growth initiative - Where Dreams Come True. With consistent global messaging and visual iconography, this new campaign delivers the simple message to people around the world that Disney parks are indeed "where dreams come true." Like The Happiest Celebration on Earth before it, Where Dreams Come True is being celebrated with the debut of exciting new attractions and shows at Disney parks around the world. The campaign is also being marked by major events and milestones unique to each Disney destination, such as the 15th anniversary of Disneyland Resort Paris and the 25th anniversary of Tokyo Disney Resort. Poised for Growth During the Year of a Million Dreams Cinderella lights up the face of a young Disney guest At the Disneyland and Walt Disney World resorts, this global growth campaign will come to life in the form of The Year of a Million Dreams - a first-of-its-kind celebration of the individual dreams of Disney guests and the magical ways that Disney cast members make them come true.

Disney has long been known for delivering world-class guest service - and The Year of a Million Dreams is taking that core equity to levels never before seen. A major highlight of this celebration are personal, magical encounters between Disney cast members and guests, who are being surprised with enchanting, dream-come-true moments happening only during this special year. These magical moments occur in a variety of ways: A guest might be asked to be an honorary Jungle Cruise skipper at Disneyland, be surprised by Darth Vader while waiting in line at Star Tours, or be asked to turn on the Sorcerer's Hat lights at dusk at Disney-MGM Studios. In addition, for the first time ever, cast members are randomly awarding dreams - both large and small, including many "money-can't-buy" experiences - to guests throughout the two resorts. These special dreams include: An overnight stay in Cinderella Castle at the Magic Kingdom in Florida or the Mickey Mouse Penthouse at the Disneyland Hotel in California Traveling to each Disney resort around the world to serve as grand marshal in a Disney parade Private meetings with favorite Disney characters A Dream FASTPASS ticket with unique access to some of Disney's most popular attractions Exciting New Attractions, Shows and Entertainment Disney parks are showcasing a number of exciting new attractions and entertainment spectaculars during The Year of a Million Dreams and the Where Dreams Come True celebrations. Some of the best and most exciting of what's to come include: lmmersive Experiences- In the blink of an eye, guests "' can find themselves on an amazing adventure or in a fairy tale fantasy, wrapped in their own world of happily ever after, on one of four new immersive dream experiences: "Disney Princess Fantasy Faire," "Pirates Have Landed," "Jedi Training Academy" and "High School Musical Pep Rally" (at the Disneyland Resort); or "Captain Jack Sparrow's Pirate Tutorial," "Woody's Cowboy Camp," "Royal Court Academy" and "High School Musical Pep Rally" (at the Walt Disney World Resort). Guests participate in the High School Musical Pep Rally at Disney's California Adventure - one of several new "immersive experiences" at the Walt Disney World and Disneyland resorts Dream Along with Mickey- In this new, 20-minute live stage show, Mickey and friends treat Magic Kingdom guests to a dreams-inspired party on the forecourt stage of Cinderella Castle. (Magic Kingdom, Walt Disney World Resort) Monsters Inc. Laugh Floor Comedy Club - Guests at this new attraction will find the power of laughter in an engaging and highly interactive adventure inspired by Disney Pixar's "Monsters, Inc." (Magic Kingdom, Walt Disney World Resort) The Seas with Nemo & Friends - In a stunning display of entertainment technology, guests will join Nemo's friends to search for the playful clownfish in one of the world's largest saltwater aquariums. (Epcot, Walt Disney World Resort) "Finding Nemo - The Musical" - The Great Barrier Reef comes to colorful life in an all-new musical filled with spectacular scenery, elaborate puppetry and music by a Tony Award-winning composer. (Disney's Animal Kingdom, Walt Disney World Resort) Dream Along with Mickey - a new live stage show that premiered at Walt Disney World in October 2006

Finding Nemo Submarine Voyage - Inspired by the hit Disney Pixar film "Finding Nemo," this all-new attraction will take guests on a real (and unbelievable) underwater excursion. (Disneyland Park, Disneyland Resort) Rockin' Space Mountain -With new lighting, technology and an all-new soundtrack, this classic attraction will feature rockets that rock it through the greatest concert in the universe. (Disneyland Park, Disneyland Resort) Rockin' California Screamin' - With new soundtracks and enhanced technology, the popular California Screamin' will rock to the beat of a whole new sound. (Disney's California Adventure, Disneyland Resort) Animator's Palate on the Disney Cruise Line - a restaurant that turns from black and white to full color over the course of an evening Cars Quatre Roues Rallye - Guests take a spin through the desert landscape on a wild, figure-s racecourse, with encouragement from Lightning McQueen and Mater from the hit Disney Pixar film "Cars." (Walt Disney Studios, Disneyland Resort Paris) Crush's Coaster - Guests step through the soundstage set of Sydney Harbour and into an awesome adventure onboard a spinning turtle shell, surfing the East Australian Current. (Walt Disney Studios, Disneyland Resort Paris) Magic in New Places Around the World Meanwhile, Walt Disney Parks and Resorts continues to create magic outside its theme parks - in exciting and innovative ways, and in new and different places. Adventures by Disney offers guided group vacations to some of the world's most exciting destinations The BoardWalk Villas at Walt Disney World - one of seven Disney Vacation Club resorts Indeed, in 2007 -\ for the first time ever - the world-class Disney Cruise Line will sail to Europe, with itineraries from the port of Barcelona to eight Mediterranean ports of call. Guests will have the chance to visit some of the most famous places in the world, including Rome, Florence, Pisa, Marseilles and Cannes. These Mediterranean itineraries will offer the beauty and culture of Europe along with the fun of a Disney cruise, providing guests with the experience of a lifetime. Adventures by Disney- a story-based, guided group vacation program - is also taking guests on magical trips to some of the world's most beautiful and exciting destinations. In 2006, Adventures by Disney offered itineraries to such places as Wyoming, Costa Rica, England, France and Italy. In 2007, the list expands to include such exciting destinations as Spain, Austria, the Czech Republic, Ireland, the American Southwest and an American Heritage tour to the Northeastern United States. Meanwhile, the Disney Vacation Club continues to provide a unique vacation experience for guests at its five properties at the Walt Disney World Resort, as well as at beautiful sites in Vero Beach, Fla., and Hilton Head, S.C. One of the most highly rated vacation-ownership programs in the industry, Disney Vacation Club celebrated a major milestone in 2006, when its 1 OO,OOOth member family made a long-term commitment to Disney-quality vacations. In late 2007, DVC will open the first phase of its eighth resort - Disney's Animal Kingdom Villas, which will be part of Disney's Animal Kingdom Lodge at the Walt Disney World Resort.

Magic Through Technology Technology is helping Disney bring great stories to life in countless new ways. Attractions such as Turtle Talk with Crush (at the Walt Disney World and Disneyland Resorts) and Stitch Encounter (at the Hong Kong Disneyland Resort) use extraordinary, interactive, state-of-the-art technology to allow guests to engage in live, unrehearsed conversations with these colorful animated characters. Additionally, the Internet is creating exciting opportunities for Disney to extend its creativity and magic to people around the world. Online players at home can play right along - in real time - with guests riding Buzz Lightyear Astra Blasters at the Disneyland Resort in California. There's even more magic to be found at the Virtual Magic Kingdom (vmk.com) - an online extension of the Disney theme park experience that began in July 2005. It's proving to be exceptionally popular too: After its first 16 months of operation, Virtual Magic Kingdom had more than 1.7 million online players. Stitch Encounter, which opened at Hong Kong Disneyland in July 2006 And following major success with its popular monthly audio podcasts, in 2006 the Disneyland Resort introduced a new monthly series of video podcasts that bring the magic and fun of The Happiest Place on Earth to fans around the world via their desktop computer or video ipod. Meanwhile, the first-ever live webcast from a Disney park took place in June 2006, when the Disneyland Resort hosted the world premiere of the hit fi lm "Pirates of the Caribbean: Dead Man's Chest." Looking Ahead \ From just one park more than 50 years ago, Walt Disney Parks and Resorts has grown into one of the world 's leading providers of immersive entertainment experiences. And the future looks just as magical as the past. Disney established an important flagship in China, the world's fastest-growing tourism market, with the 2005 opening of Hong Kong Disneyland - Disney's first theme park in the world's most populous nation. And as with China, as other regions of the world open up and prosper, myriad growth opportunities will continue to develop in the family vacation business. Virtual Magic Kingdom brings the fun and excitement of Disney's theme parks to a magical online setting Walt Disney Parks and Resorts has grown its business, as well, by expanding its signature brand of entertainment and vacation experiences "beyond the berm" into such areas as the Disney Cruise Line, the Disney Vacation Club and Adventures by Disney. It now stands ready to seize on more opportunities and new ways to provide the immersive entertainment experiences for which it is known the world over. So, as Walt Disney Parks and Resorts looks to the future, growth will come by using the same kind of vision, imagination and creativity that has allowed Disney's parks and resorts to become among the most popular and visited destinations in the world. It's the same vision, imagination and creativity that gave birth to Disneyland five decades ago. The future looks magical indeed. Hong Kong Disneyland - which opened in September 2005 - positions Disney for growth in the world's fastest-growing tourism market

Walt Disney Parks and Resorts Fact Sheet 2006-2007 Business Unit Opened Resort Size (Acres)* #of Hotels/ Venuest #of Hotel Rooms Approximate Workforce Disneyland Resort Disneyland Park Disney's California Adventure 1955 2001 506 3 2,224 20,000 Walt Disney World Resort The Magic Kingdom Epcot Disney-MGM Studios Disney's Animal Kingdom Disney's Typhoon Lagoon Disney's Blizzard Beach Disney's Wide World of Sports 1971 1982 1989 1998 1989 1995 1997 25,337+ 24,000+ 59,500 Disney Vacation Club 1991 711 1,700 Tokyo Disney Resort1 Tokyo Disneyland Park Tokyo DisneySea 1983 2001 494 2 1,006 20,000 1 A Disneyland Resort Paris2 Disneyland Paris Walt Disney Studios Paris 1992 2002 4,8oo+ 7 5,760 12,2002A Hong Kong Disneyland 2005 310 2 1,000 5,000 3 Disney Cruise Line Disney Magic Disney Wonder 1998 1999 964 ft. 964 ft. 877 877 3,000** Disney Regional Entertainment 1998 8 ESPN Zones 1,700 Walt Disney lmagineering 1952 1,000 The World of Disney Stores 1996 750 TOTAL Hotels 38 TOTAL Hotel rooms: 36,000+ TOTAL Full-time, seasonal and part-time Walt Disney Company employees (excluding those of Euro Disney S.C.A, Hong Kong Disneyland and Oriental Land Co., Ltd.): 87,000+ All figures are approximations as of November 2006 Includes theme parks, hotels, dining and entertainment areas and surrounding land t Includes only hotels and Disney Vacation Club properties owned and operated by The Walt Disney Company; Oriental Land Co., Ltd.; Euro Disney S.C.A; and Hong Kong International Theme Parks, Ltd. + Total acreage, including undeveloped land Includes Fort Wilderness Resort & Campground, as well as the five Disney Vacation Club properties at the Walt Disney World Resort II Includes the five Disney Vacation Club properties at the Walt Disney World Resort # As of 2007 Includes shoreside cast and shipboard crew 1. A subsidiary of The Walt Disney Company earns royalties on revenues generated by the Tokyo Disney Resort, which is owned and operated by Oriental Land Co., Ltd., a Japanese corporation. 1A Cast members of the Oriental Land Co., Ltd. 2. The Walt Disney Company has an indirect investment in Euro Disney S.CA, a publicly held French entity that owns Disneyland Resort Paris. A subsidiary of The Walt Disney Company manages the resort, and another subsidiary earns royalties on Disneyland Resort Paris revenues. 2A Cast members are employed by Euro Disney Associes S.CA 3. Cast members are primarily employees of Hong Kong Theme Parks, Ltd., a joint venture of the Hong Kong SAR government and a subsidiary of The Walt Disney Company. December 2006