Walt Disney World Press Release

Disney Finalizes Deal with Four Seasons to Anchor New Luxury Resort

Architectural Rendering Also Released for Project that will Enable Disney, Central Florida
to Further Tap into Luxury Travel Market

LAKE BUENA VISTA, Fla., Aug. 25, 2008 Walt Disney World Co. has finalized the sale of 298 acres of land to Four Seasons Hotels and Resorts for a hotel and golf course that will anchor the new luxury resort announced last year as part of an expansion of Walt Disney World Resort.

“This is an important milestone for a project that will enable our company and our community to further tap into the luxury travel market,” said Meg Crofton, president of Walt Disney World Resort. “Working together for the first time, Walt Disney World Resort and Four Seasons Hotels and Resorts will create a world-class family resort destination that offers the exceptional service and amenities and one-of-a-kind guest experiences that are the hallmark of both our brands.”

Located along the northeast border of Walt Disney World, the resort will include a 445-room Four Seasons hotel, Residence Club (fractional ownership vacation homes) and 18-hole championship golf course, as well as custom single- and multi-family vacation homes.

WATG (Wimberly Allison Tong & Goo) is the design architect for the hotel, which is depicted in a rendering released today. The Addison Mizner-inspired design, sometimes referred to as Palm Beach style, is reminiscent of turn-of-the century resorts found on Florida’s east coast. With a style that evokes the romance of Florida hospitality, the architecture draws upon Spanish-Moorish influences characterized by barrel-tiled roofs, columned archways, keystone walls and carved stonework. Thoughtfully planned to integrate with the entire resort, the hotel will be surrounded by beautiful landscaping in a lush environment.

“This project is one with which we are proud to be associated,” said Scott Woroch, executive vice president, development, Four Seasons Hotels and Resorts. “Having memorable family vacation experiences are more important than ever to our guests, and we are excited about working with Disney to create a unique product in Central Florida.”

First announced in March 2007, the project’s initial site preparation work began earlier this year, with building construction expected to begin next year. The hotel is anticipated to open by 2012. The project will be built in phases over the next 8 to 10 years.

Walt Disney World Resort

Walt Disney World Resort is a contiguous 40-square-mile, world-class entertainment and recreation center featuring four theme parks (Magic Kingdom, Epcot, Disney’s Hollywood Studios and Disney's Animal Kingdom); two water adventure parks (Blizzard Beach and Typhoon Lagoon); 32 resort hotels (22 owned and operated by Walt Disney World, including six Disney Vacation Club properties); Disney’s Fort Wilderness campground; two full-service spas; Disney's Wedding Pavilion; Disney's Wide World of Sports Complex; and Downtown Disney, an entertainment-shopping-dining complex encompassing the Marketplace, Pleasure Island and West Side. Walt Disney World Resort is also included in vacation packages of Disney Cruise Line. Located at Lake Buena Vista, Fla., 20 miles southwest of Orlando, Walt Disney World Resort opened Oct. 1, 1971.

Four Seasons Hotels and Resorts

Four Seasons is dedicated to perfecting the travel experience through continuous innovation and the highest standards of hospitality. Founded in 1960, Four Seasons has followed a targeted course of expansion, opening hotels in major city centres and desirable resort destinations around the world. Currently with 78 hotels in 32 countries, and more than 31 properties under development, Four Seasons continues to lead the hospitality industry with innovative enhancements, making business travel easier and leisure travel more rewarding. The deeply instilled Four Seasons culture is personified in its employees – people who share a single focus and are inspired to offer great service. Four Seasons currently operates two properties in Florida, Four Seasons Hotel Miami and the Four Seasons Resort Palm Beach.