BURBANK, Calif., September 27, 2004 – A presentation and general discussion with Bob Iger, president and chief operating officer, and Tom Staggs, senior executive vice president and chief financial officer, The Walt Disney Company (NYSE: DIS) will be hosted by the Merrill Lynch Media and Entertainment Conference on Thursday September 30, 2004 from 1:15 p.m. – 2:00 p.m. EDT/10:15 a.m. – 11:00 a.m. PDT. To listen to a live Webcast of the session, please point your browser to www.disney.com/investors approximately five minutes prior to the start time. A re-play will be provided through Thursday, October 7, 2004 at 4:00 p.m. PDT.