Stanley Cheung Named Managing Director, The Walt Disney Company (China)

HONG KONG, (Dec. 20, 2004) – Stanley Cheung has been named Managing Director, The Walt Disney Company (China), it was announced today by Andy Bird, President, Walt Disney International. In this capacity, Mr. Cheung will be responsible for driving the company’s strategy, coordinating all of Disney’s business efforts in China, including overseeing Disney’s global brands in the market, expanding existing businesses and seeking out new business opportunities.

With Mr. Cheung’s appointment, Disney will now have its existing businesses in China managed locally, with all business segments reporting into Mr. Cheung, as well as their respective business units. Mr. Cheung will be based in Shanghai and will assume his new post on January 1, 2005.

“We are thrilled to bring Stanley’s expertise in introducing and growing consumer brands and products in China to Disney as we increase our presence throughout the country,” said Bird. “China is of great strategic importance to Disney and Stanley’s experience will be invaluable as the opportunities for our businesses in this market continue to expand and contribute to Disney’s long-term growth.”

Mr. Cheung joins Disney from Johnson & Johnson (China) Limited, the consumer arm of J&J businesses in China, where he served as Managing Director. While there, Mr. Cheung led J&J’s business growth through product line extensions, new product introductions and distribution expansion.

From 1996-2001, Mr. Cheung worked for The Pillsbury Company out of Shanghai, serving in a series of positions of increasing responsibilities, culminating in the position of Managing Director, North Asia. During this period, Mr. Cheung successfully developed Pillsbury companies in China and Hong Kong into thriving businesses with leading brands like Haagen Dazs ice cream and WanChai Ferry Chinese dumplings. He also restructured various aspects of Pillsbury’s Taiwan and Korea businesses to reinvigorate growth.

Previously, Mr. Cheung worked for the China Division of Pepsi-Cola International (PCI) in various positions. While there, he forged ahead the start up of PCI’s business in the Sichuan province, led the bottling operations in Guangzhou as General Manager, and expanded PCI’s distribution in second tier cities, including Changsha, Jinan and Shijiazhuang.

Mr. Cheung began his career with Proctor & Gamble, gaining experience in both the finance and brand management arenas. He spent a total of more than nine years in Canada, Singapore, Hong Kong and China covering various positions.

Mr. Cheung holds a Bachelor of Business Administration from The Chinese University of Hong Kong and a Master of Business Administration from Indiana University in USA. He is fluent in English, Cantonese and Mandarin.

The Walt Disney Company first entered China in the 1930’s. Today, The Walt Disney Company (China) has representative offices in Beijing, Shanghai and Guangzhou. Disney is the largest provider of western television programming, both animation and live action, to mainland China and also produces a daily program, “Dragon Club,” which celebrates its tenth anniversary this year. Disney’s licensing business is present through over 1100 Disney Corners, with plans to double the number within the next twelve months. Amongst many publishing projects, “Mickey Mouse” is the best selling magazine in China with 350,000 copies per issue. Disney also has content agreements with all the major mobile and broadband operators. It also has been distributing theatrical motion pictures since 1995 and has released more than 330 VCD titles and 120 DVD titles since 1997. In addition, last month saw the launch of Baby Einstein throughout China, Disney on Ice has just completed another successful tour, and next year sees the opening of Hong Kong Disneyland on 12th September.