Disney Shareholders Elect All 11 Directors At 2007 Annual Meeting

NEW ORLEANS, LA, March 8, 2007 —Shareholders of The Walt Disney Company (NYSE: DIS) at the 2007 Annual Meeting today overwhelmingly elected all 11 members of the Board of Directors, voting at least 98% in favor of each member and supporting all Board recommendations, based on preliminary results.

New Disney Chairman John E. Pepper, Jr. welcomed shareholders to the first Annual Meeting ever to be held by Disney in New Orleans and introduced members of the Board of Directors.Disney is a collection of vibrant, creative engines that we manage in a consistent and integrated way,” said Disney President and CEO Robert A. Iger, in remarks to investors. “This combination of assets and management philosophy gives us a unique competitive advantage as well as extraordinary opportunities to grow and build real shareholder value for years to come. Based on preliminary results, at least 1,785,124,713, or 98% of the shares voted, were cast in favor of electing the following directors to the board:

John E. Bryson
John S. Chen
Judith L. Estrin
Robert A. Iger
Steven P. Jobs
Fred H. Langhammer
Aylwin B. Lewis
Monica C. Lozano
Robert W. Matschullat
John E. Pepper, Jr.
Orin C. Smith

Final voting tallies are subject to certification by the Company’s inspector of elections, and will be included in the Company’s next quarterly report filed with the Securities and Exchange Commission. Shareholders also ratified the appointment of Pricewaterhouse Coopers LLP as the Company’s independent accountants for the fiscal year ending September 30, 2007. The preliminary vote was 1,771,560,870 in favor, or 98% of the shares voted. An increase in the maximum number shares of stock under the Company’s Amended and Restated 2005 Stock Incentive plan was also passed by shareholders. The preliminary vote was 1,352,093,303 in favor, or 89% of the shares voted.
Shareholders also approved the renewal of the company’s 2002 Executive Performance Plan. The preliminary vote was 1,710,144,505 in favor, or 94% of the shares voted.
In addition, shareholders agreed with the Board in rejecting shareholder proposals regarding anti-greenmail payments and a stockholder rights plan.

Regarding Shareholder Proposal 1 – Greenmail, the vote was 225,368,750 FOR and 1,280,531,135 AGAINST, with 25,621,390 abstentions.

Regarding Shareholder Proposal 2 – Stockholder Rights Plan Bylaw Amendment, the vote was 879,028,289 FOR and 626,587,117 AGAINST, with 25,884,804 abstentions. In order to pass, the proposal required a FOR vote ratified by a two-thirds majority of shareholders.

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 $70.5 billion as of March 7 2007.