Walt Disney Parks and Resorts Press Release

Joe Schott Named to Lead Disney Park Efforts in Japan

BURBANK, Calif.--Aug. 30, 2006--Joe Schott -- an operations executive at the Walt Disney World Resort in Florida and a 25-year Disney veteran -- has been named Vice President and Executive Managing Director, Walt Disney Attractions Japan and Disneyland International, it was announced today by Jay Rasulo, Chairman, Walt Disney Parks and Resorts.

"Joe Schott brings a proven combination of talent, experience and leadership -- demonstrated time and again in a variety of key roles at the Walt Disney World Resort," said Rasulo. "He's the perfect choice to lead Disney's efforts in Japan and to partner with our licensee, Oriental Land Co., to ensure the continued growth and success of the Tokyo Disney Resort, which is one of the leading tourist destinations in Asia."
In his new role, Schott will oversee Disney operations for the two-park Tokyo Disney Resort and manage the day-to-day relationship with the Oriental Land Co., Ltd., which operates the resort as a licensee. He will report to Nick Franklin, Senior Vice President, International Development, Walt Disney Parks and Resorts. Schott's appointment takes effect immediately.

Schott replaces Ed Grier, who last month was named President of the Disneyland Resort in Anaheim, Calif.

Schott has spent virtually his entire career at the Walt Disney World Resort, starting out as an attractions host in the Magic Kingdom and working up his way up through a series of key operational positions.

For the last two years, Schott has served as Director, Park Operations at the Walt Disney World Resort, where he was responsible for developing and implementing operating standards for attractions at the resort. Prior to that, he led global operational safety for Disney's 11 theme parks, coordinating the training process for attractions cast members and acting as the operational point of contact for communicating about emergency events. He also oversaw the design and construction of the Asia area of Disney's Animal Kingdom and managed the attractions there after the area opened in 1999.

In addition to his experience at the Walt Disney World Resort, Schott also has experience helping open other Disney theme parks around the world. He served as task force leader responsible for Main Street attractions for the opening of Disneyland Park in Paris. He was a team leader for the grand opening of Disney's California Adventure at the Disneyland Resort in Anaheim. And he provided operational input for attractions at Hong Kong Disneyland prior to that park's opening in September 2005.

Schott has a bachelor's degree in business professional management from Nova Southeastern University in Ft. Lauderdale, Fla.

Walt Disney Parks and Resorts

Walt Disney Parks and Resorts is where dreams come true and magic comes to life. This division of The Walt Disney Company, which generated more than $9 billion in revenues in fiscal 2005, encompasses 11 theme parks at five of the world's leading family vacation destinations -- Disneyland Resort, Walt Disney World Resort, Tokyo Disney Resort, Disneyland Resort Paris, and Hong Kong Disneyland Resort. It also includes the Disney Cruise Line; Disney Vacation Club; Adventures by Disney; Disney Regional Entertainment; World of Disney stores in New York, Orlando and Anaheim; and Walt Disney Imagineering, which creates and designs Disney parks, resorts and attractions worldwide.

Tokyo Disney Resort

Tokyo Disney Resort is an all-inclusive family vacation destination anchored by two theme parks: Tokyo Disneyland -- Disney's first international theme park -- and Tokyo DisneySea, which celebrates its fifth anniversary on Sept. 4, 2006. The Tokyo Disney Resort also includes two hotels and the Ikspiari shopping, dining and entertainment district.
Tokyo Disney Resort is operated by the Oriental Land Co., Ltd. through a licensing agreement with The Walt Disney Company.

Oriental Land Company

The Oriental Land Co., Ltd. is a publicly traded Japanese leisure and tourism company whose main business consists of the Tokyo Disney Resort. It also owns and operates more than four dozen Disney Stores throughout Japan.