Christine M. Mccarthy Promoted To Executive Vice President, Corporate Finance And Real Estate And Treasurer Of The Walt Disney Company

BURBANK, Calif., — July 7, 2005 – Christine M. McCarthy has been promoted to executive vice president, Corporate Finance and Real Estate and Treasurer, it was announced today by Tom Staggs, senior executive vice president and chief financial officer of The Walt Disney Company. In her new capacity, McCarthy will assume responsibility for the company’s global real estate organization, including facilities development, operations and portfolio management, in addition to her continuing duties as treasurer overseeing corporate finance and capital markets activities, financial risk management, pension and investments, global cash management, risk management, and credit and collections.

“Christine has a strong track record of success at Disney and has made significant contributions to our overall balance sheet management and treasury operations,” Staggs said. “She brings an impressive depth of financial expertise and management experience to her new position. Her insightful analysis, and business and strategic acumen make her ideally suited for this expanded role.”

McCarthy, who will continue to report to Staggs, has served as senior vice president and treasurer since January 2000, with responsibility for all Corporate Treasury activities. Prior to joining Disney, McCarthy was executive vice president and chief financial officer of Imperial Bancorp and its principal subsidiary, Imperial Bank from 1997 to 1999.

From 1981 to 1996, McCarthy held various finance and corporate planning positions at First Interstate Bancorp, including corporate development, investor relations and treasury. In 1993 she was elected executive vice president in finance.

McCarthy earned her B.A. in biology from Smith College and an M.B.A. in marketing and finance from The Anderson School at UCLA. She is a board member and former chairman of the Finance Committee for Phoenix Houses of California, Inc., and a governor of the UCLA Foundation and member of its Investment Committee. In 2003 she was appointed to the San Francisco Advisory Board of FM Global.