Shareholders Elect 13 Directors At The Walt Disney Company Annual Meeting

San Antonio, Tex. March 10, 2010 — Shareholders of The Walt Disney Company (NYSE:DIS) at the 2010 Annual Meeting today elected 13 members of the Board of Directors and supported Board recommendations on the Company’s auditor, its stock incentive plan and amendments to its Restated Certificate of Incorporation, based on preliminary results.

Shareholders also agreed with the board in rejecting two shareholder proposals.

Disney Chairman John E. Pepper Jr. welcomed shareholders to the meeting at the JW Marriott San Antonio Hill Country and introduced members of the Board of Directors. He noted that last year was an extremely tough one for the global economy, adding that Disney’s management team “has done an excellent job of steering through” the challenges.

“Last year was more a period of adaptation than growth, but it also re-affirmed the importance of investing aggressively for the future in high-quality original branded entertainment and experiences,” Disney President and CEO Robert A. Iger told shareholders. “Ultimately, that’s the best way to assure Disney’s prosperity and, with that in mind, we’ve committed our capital and creative resources to some very exciting projects at our movie studios, our media networks and at our parks and resorts.”

Mr. Iger said that the recent acquisition of Marvel Entertainment will provide Disney “new opportunities to create great content” and that a big step was taken towards future growth when the Company received a go-ahead from China’s government to develop a new theme park in Shanghai. He also announced that the next D23 Expo, where Disney fans gather to get an inside look at technology and projects, mingle with talent and enjoy exclusive screenings and events, will take place in Anaheim, Ca., August 19-21, 2011.

Based on preliminary results, the following directors were re-elected to the Board, while Facebook Chief Operating Officer Sheryl Sandberg was elected for the first time:

  • Susan Arnold
  • 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

Shareholders also ratified the appointment of PricewaterhouseCoopers LLP as the Company’s independent accountants for the fiscal year ending October 2, 2010, approved an amendment to the Amended and Restated 2005 Stock Incentive Plan increasing the number of shares authorized to be issued under the plan and approved four amendments to the Company’s Restated Certificate of Incorporation.

Shareholders rejected two shareholder proposals, one seeking specific reference to “ex-gays” in its employment policies and one seeking to institute shareholder advisory votes on executive compensation.

Final voting tallies are subject to certification by the Company’s inspector of elections, and will be included in the Company’s report to be filed with the Securities and Exchange Commission by early next week.

About The Walt Disney Company
The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media. Disney is a Dow 30 company and had annual revenues of about $36 billion in its most recent fiscal year.

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 our views and assumptions regarding future events and business performance as of the time the statements are made and we do 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 as well as from developments beyond the Company’s control, including governmental actions and changes in domestic and global economic conditions. Additional factors are set forth in Item 1A of the Company’s Annual Report on Form 10-K for the year ended October 3, 2009 and subsequent reports.