[mickey]

` BURBANK, Calif., April 1, 2005 - The Walt Disney Company (NYSE: DIS) Board of Directors announced today that current CEO Michael D. Eisner, who announced his intention to retire in a letter to the Board last year dated September 9, and who will step down as CEO on September 30, 2005, will be memorialized with a permanent statue to be placed in the Magic Kingdom in Walt Disney World, Florida.

"After a lengthy and thorough discussion, I am pleased to announce the decision of the Walt Disney Board of Directors to replace the current "Partners" statue currently located in the Magic Kingdom," said Sen. George J. Mitchell, chairman of The Walt Disney Company Board of Directors. "The current statue is so dated, with Walt and Mickey holding hands. It just doesn't portray the modern nature of the Walt Disney Company as it exists today. While it all started with a mouse, and Walt did such great things for this company, innovative movie making processes, the foresight to build Disneyland and start the ambitious Disney World project, but his time has passed. Michael brought the Walt Disney Company into the Twenty-First century, and we wanted our guests to realize his importance to all of us. Plus, April 1 is his birthday, and we couldn't decide on a gift for him."

"It is truly an honor to be honored in such an honorable way," said Eisner. "It's also an honor to work with our incredibly talented and dedicated worldwide team. Even though our team is great, I did run the company for nearly 21 years, so I deserve this. Walt was only around for 11 years after Disneyland opened, why shouldn't I get a statue? I have worked hard for this statue."

The new "Partners" statue will be installed in time for park visitors to take memorable snapshots on April 1, 2005.