The Walt Disney Studios
The Walt Disney Studios is the foundation on which Disney was built, and at its heart are world-renowned animated features and live-action motion pictures. With the creation of Mickey Mouse and Snow White and the Seven Dwarfs, the world's first full-length animated feature, the Disney name quickly became synonymous with quality entertainment for the whole family.

The Walt Disney Studios distributes motion pictures under Walt Disney Pictures - which includes Walt Disney Animation Studios, Pixar Animation Studios and DisneyToon Studios - Touchstone Pictures, Hollywood Pictures and Miramax Films. Walt Disney Studios Motion Pictures International serves as the studio's international distribution arm. Walt Disney Studios Home Entertainment distributes Disney and other film titles to the rental and sell-through home entertainment markets worldwide. Disney Theatrical Productions,one of the largest producers of Broadway musicals, also includes Disney Live Family Entertainment and Disney on Ice. Disney Music Group distributes original music and motion picture soundtracks under Walt Disney Records, Hollywood Records, and Lyric Street Records. Advancing its strategy of developing outstanding creative content, Disney acquired renowned computer animation leader Pixar in an all-stock transaction completed in May 2006. In February 2007, The Walt Disney Studios joined forces with Academy Award-winning director Robert Zemeckis and his ImageMovers partners/producers Jack Rapke and Steve Starkey to form ImageMovers Digital, a new state of the art studio devoted exclusively to the production of performance capture projects.

Parks and Resorts
Disney's Parks and Resorts is not just home to Disney's beloved characters but the place "Where Dreams Come True." The segment traces its roots to 1952, when Walt Disney formed what is today known as Walt Disney Imagineering to build Disneyland Park in Anaheim, California.

Since then, Parks and Resorts has grown to encompass the world-class
Disney Cruise Line, eight Disney Vacation Club resorts (with more than 100,000 members), Adventures by Disney (immersive Disney-guided travel around the world), and five resort locations (encompassing 11 theme parks, including some owned or co-owned by independent entities) on three continents:

Disneyland Resort, Anaheim, California
Walt Disney World Resort, Lake Buena Vista, Florida
Tokyo Disney Resort, Urayasu, Chiba
Disneyland Resort Paris, Marne La Valle, France
Hong Kong Disneyland, Penny's Bay, Lantau Island

Wherever the Guest experience takes place – in our parks, on the high seas, on a guided tour of exotic locales, through our vacation ownership program -- we remain dedicated to the promise that our Cast members turn the ordinary into the extraordinary. Making dreams come true every day is central to our global growth strategy.

Disney Consumer Products
Disney merchandising began in 1929 when Walt Disney was approached by a businessman interested in placing Mickey Mouse on the cover of a children's writing tablet. Disney Consumer Products and affiliates (DCP) extend the Disney brand to merchandise ranging from apparel, toys, home décor and books and magazines to interactive games, foods and beverages, stationery, electronics and fine art. This is accomplished through DCP's various lines of business which include: Disney Toys, Disney Apparel, Accessories & Footwear, Disney Food, Health & Beauty, Disney Home and Disney Stationery.

Disney Publishing Worldwide (DPW) is the world's largest publisher of children’s books and magazines, reaching more than 100 million readers each month in 75 countries. Disney's imprints include Disney Libri, Hyperion Books for Children, Jump at the Sun, Disney Press, and Disney Editions.

Other businesses involved in Disney's consumer products sales are Disney Interactive Studios, developing and publishing interactive entertainment, and disneyshopping.com, the company's official shopping portal. The Disney stores retail chain, which debuted in 1987, is owned and operated by unaffiliated third parties in North America and Japan under a license agreement with The Walt Disney Company. Disney owns and operates the Disney Store chain in Europe.

Media Networks
Media Networks comprise a vast array of broadcast, cable, radio, publishing and Internet businesses. Key areas include: Disney-ABC Television Group, ESPN Inc., Walt Disney Internet Group, ABC owned television stations, and a supporting headquarters group. Marketing, research, sales and communications functions also exist within the segment.

Disney-ABC Television Group is responsible for all of Disney's worldwide entertainment and news television properties. The Group includes The ABC Television Network, the Disney Channel Worldwide portfolio of kids' channels, ABC Family and SOAPnet; as well as television production and syndication divisions, ABC Studios, Walt Disney Television Animation, Disney-ABC Worldwide Television and Walt Disney Television International. Disney-ABC Television Group also manages The Radio Disney Network in addition to the Company's equity interest in Lifetime Entertainment Services and A&E Television Networks.

ESPN, Inc., The Worldwide Leader in Sports, is the leading multinational, multimedia sports entertainment company featuring the broadest portfolio of multimedia sports assets with over 50 business entities. Sports media assets include ESPN on ABC, six domestic cable television networks (ESPN, launched in 1979; ESPN2; ESPN Classic; ESPNEWS; ESPN Deportes; ESPNU), ESPN HD and ESPN2 HD (high-definition simulcast services of ESPN and ESPN2, respectively), ESPN Regional Television, ESPN International (31 international networks and syndication), ESPN Radio, ESPN.com, ESPN The Magazine, ESPN Enterprises, ESPN Zones (sports-themed restaurants licensed by ESPN), and other growing new businesses including ESPN360.com (Broadband), ESPN Mobile Properties (wireless), ESPN On Demand, ESPN Interactive and ESPN PPV. Based in Bristol, Ct., ESPN is 80 percent owned by ABC, Inc., which is an indirect subsidiary of The Walt Disney Company. The Hearst Corporation holds a 20 percent interest in ESPN.

The Walt Disney Internet Group (WDIG) offers a compelling mix of interactive entertainment and informational content and services for Internet and mobile devices for audiences around the world. WDIG is both a developer of unique new media experiences specifically designed for Internet and mobile media and a developer of new platforms for distributing content selected from broad, existing entertainment divisions and libraries of The Walt Disney Company (NYSE: DIS) or its affiliated companies. With a portfolio of products and services designed with quality and guest safety in mind, WDIG's integration of Disney's unmatched breadth of content with a best-practices approach to Internet and mobile technology drives multiple revenue streams from premium content offerings, advertising and ecommerce. WDIG's suite of properties includes Disney.com, Family.com, Movies.com and mDisney mobile entertainment. WDIG is an industry leader in online virtual worlds for kids and families, with offerings including Disney's Club Penguin, Disney's Toontown Online, Pirates of the Caribbean Online and Disney Fairies Pixie Hollow. WDIG is headquartered in North Hollywood, Calif. WDIG content is available directly or through third parties in many major markets worldwide, including the Americas, Europe, and Asia Pac.

¹ Since this is an integrated website, which includes references to The Walt Disney Company and/or its affiliated entities, "Disney" or the "Company" means, as appropriate, either The Walt Disney Company and/or one or more of its affiliated companies.