Disney President And CEO Bob Iger Delivers Keynote Address At The Consumer Electronics Show

Las Vegas, January 8, 2007 – The Walt Disney Company (NYSE: DIS) is committed to working with consumer electronics as it builds on its tradition of using the newest technology to create high-quality content, Bob Iger, president and CEO of Disney said today in a keynote address to the 2007 Consumer Electronics Show.

“We are witnessing an explosion of media and Disney is both reaping the benefits of that explosion and acting as a catalyst by taking a technology-friendly approach,” said Iger, noting that the company was the first to offer movies and TV shows for download on iTunes last year.

“Our history of bringing our storytelling and our roster of characters to the frontiers of technology is unrivalled. Since the day Mickey dared to speak in a `talkie,’ Disney has boldly taken its content to the cutting edge. Wherever the path of unfolding technologies and imaginative new platforms may lead, Disney will be there. Year in and year out, we are proud to bring our creative content to your innovative products.”

Iger today unveiled the latest example of Disney’s use of technology by giving the CES audience a first look at the newly redesigned and enhanced Disney.com Web site, which will launch later this month.

Taking advantage of the strong growth of broadband and new Web tools, Disney.com is a compelling interactive experience that offers personalization and community-building amidst a broad array of Disney entertainment, products and services.

“No other media company has the breadth of quality family entertainment that can be brought together to create such an exciting online experience,” Iger said. “Disney.com is the digital doorway into Disney and both a destination and a portal into a vibrant, rich online entertainment experience for children, parents and people genuinely interested in Disney.”

Already a number-one ranked site among kids and families with 24.8 million unique monthly visitors (comScore MediaMetrix: November 2006), Disney.com is poised to continue its industry leadership when the new site launches.

Disney Xtreme Digital (Disney XD), the broadband centerpiece of the new site, will allow guests to personalize their favorite Disney content as well as watch and share with others videos, including television shows and shorts; chat with friends, listen to music; create playlists; and enjoy a stunning array of games. Disney.com guests will also be able to access premium content through Disney XD, such as the upcoming Pirates of the Caribbean Online massively multiplayer game, which is set to launch in 2007.

About The Walt Disney Company

The Walt Disney Company (NYSE: DIS), together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with four business segments: media networks, parks and resorts, studio entertainment and consumer products. Disney is a Dow 30 company and had annual revenues of more than $34 billion in its most recent fiscal year and a market capitalization of $70.7 billion as of Jan. 5, 2007.

Forward Looking Statements

Management believes certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management’s views and assumptions regarding future events and business performance as of the time the statements are made. Management does not undertake any obligation to update these statements. Actual results may differ materially from those expressed or implied. Such differences may result from actions taken by the Company, including restructuring or strategic initiatives (including capital investments or asset acquisitions or dispositions), as well as from developments beyond the Company’s control, including changes in domestic and global economic conditions, competitive conditions and consumer preferences. Additional factors are set forth in the Company’s Annual Report on Form 10-K for the year ended September 30, 2006 under Item 1A, “Risk Factors”.