BURBANK, Calif., April 12, 2004 — Tom Staggs, senior executive vice president and chief financial officer of The Walt Disney Company (NYSE: DIS), today issued the following statement:
“Given the performance we’re seeing in our businesses, we remain confident in our ability to deliver attractive growth in our earnings. In fact, assuming a continuation of the favorable economic conditions and trends we’re seeing, we believe that we will deliver earnings growth from continuing operations of more than 40 percent for this fiscal year, versus the $0.65 per share we reported last year.”
Certain statements in this release 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 and 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 and information technology improvements, as well as from developments beyond the Company’s control, including international, political, health concern and military developments that may affect travel and leisure businesses generally and changes in domestic and global economic conditions that may, among other things, affect the performance of the Company’s theatrical and home entertainment releases, the advertising market for broadcast and cable television programming, expenses of providing medical and pension benefits and demand for consumer products. Changes in domestic competitive conditions and technological developments may also affect performance of all significant company businesses. Additional factors are set forth in the Company’s Annual Report on Form 10-K for the year ended September 30, 2003 under the heading “Factors that may affect forward-looking statements.”