The Walt Disney Company Announces Convertible Note Offering

BURBANK, Calif. -The Walt Disney Company (NYSE:DIS) today announced that it is making a public offering of $1.0 billion of senior convertible notes due 2023 ($1.15 billion if an option for an additional $150 million of notes is exercised in full by the underwriters) under a shelf registration statement previously filed with the Securities and Exchange Commission. Citigroup and JP Morgan will be acting as joint book-running managers and representatives of the underwriters for this offering. Credit Suisse First Boston will be acting as a joint lead manager.

The gross proceeds from the sale are expected to be $1.0 billion before the underwriters’ over-allotment option. The company intends to use the proceeds of the offering for general corporate purposes.

This press release does not constitute an offer to sell or the solicitation of an offer to purchase these securities, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The notes may be offered only by means of a prospectus, including the prospectus supplement relating to the notes. A copy of the prospectus may be obtained from Citigroup Global Markets Inc., 399 Greenwich Street, New York, NY 10013.