In a brief statement released by the Board of Directors, Disney said it would “evaluate the unsolicited proposal from Comcast”, and reiterated that there is “no action for shareholders to take”. The full press release follows.

February 11, 2004

Contacts: Zenia Mucha
(818) 560-5300

STATEMENT BY THE WALT DISNEY COMPANY

The Walt Disney Company Board of Directors has received and will carefully evaluate the unsolicited proposal from Comcast Corp. In the meantime, there is no action for shareholders to take. Today and tomorrow, the company will present to Institutional Investors and Analysts at a previously scheduled conference its broad array of unique and valuable businesses, as well as the strategies being deployed to fully realize the tremendous long-term value of those assets.