Dear Stakeholder,

As you well know, 2006 has seen an overwhelming number of successes for The Walt Disney Company: a number-one selling CD, the top grossing movie of the year, top ratings for our media networks, and a major, exciting acquisition. Our Company has also made significant progress in environmental action: reaching record numbers in financial savings, a major milestone for our wildlife conservation programs, and new successes in the area of resource conservation.

This year has also brought about a change for me as I stepped into the role of Vice President for Disney Corporate Environmental Policy. In this role, I have gained an even broader appreciation for the dedication our Company puts forth on behalf of stakeholders, specifically a commitment to balance business goals with environmental measures. Environmental issues are and will continue to be at the forefront of our business planning, ensuring that generations to come will enjoy the Disney legacy. We, as a Company, have seen how thinking and acting with Environmentality makes smart business sense as cumulative, documented savings reached a total of $31 million this year. With a Company as large and diverse as ours, the business of Environmentality depends on collaboration, partnerships, and individual contributions by our Cast Members and employees around the world. Our many thanks you to everyone who helped The Walt Disney Company make Environmentality an even greater reality this year.

As we look to 2007 and beyond, we will continue to take significant, positive steps on behalf of our business and the environment. There are endless opportunities for success, and with creativity, desire, perseverance, and a lot of hard work we will continue to lead the effort by keeping environmental initiatives at the forefront. Conservation began with Walt Disney, continued with the inception of formal environmental programs, our Environmentality brand in 1991, and continues to be a top corporate priority today. As Walt once said, “We’ve only just begun!”

Hope you enjoyed reading Disney’s Enviroport and thank you for all of your support!

Kris McNamara
Vice President Corporate Environmental Policy