Disney Executives To Speak To Investors

BURBANK, Calif., January 27, 2005 – Senior management of The Walt Disney Company (NYSE: DIS) including CEO Michael Eisner, Bob Iger, president and COO; and Tom Staggs, senior executive vice president and CFO; business unit leaders; as well as Sen. George Mitchell, Chairman of the Disney Board of Directors; will speak to investors at Disney’s 2005 Investor Conference on Monday and Tuesday, January 31 and February 1, 2005.

The conference will begin at 1:00 p.m. EST on Monday, January 31 with a presentation on Disneyland’s 50th anniversary celebration, followed at 4:30 p.m. EST by a discussion of fiscal first quarter 2005 financial results (which will be released shortly after 4:00 p.m. EST). The conference will resume with a general session at 7:15 p.m. EST. On Tuesday, February 1, the conference will continue at 9:00 a.m. EST. The business sessions on that day are expected to conclude at approximately 6:00 p.m. EST.

All presentations will be available live via Web cast. Please point your browser to www.disney.com/investors. Replays for each presentation will be provided through February 8, 2005 at 4:00 p.m. PST.