One of Walt Disney International's key responsibilities is to focus on the Company’s brands and the businesses as a global whole, promoting coordi-nation and encouraging synergy among individual businesses.  Working closely with the Company's brand management group, Walt Disney International seeks to ensure brand consistency across businesses and borders. It also manages coordinated marketing support for key Company-wide priorities. During fiscal 2004, marketing activities coordinated by the international group included the launch of official Disney stamps in France and a televised open-air concert in the United Kingdom. Looking forward, the international group and Disney Publishing are set to build upon the uniqueness of Disney's creative content through the creation of English-language learning camps in partnership with Walt Disney World and Disneyland Resorts as part of a broader English-language initiative. This new initiative, concentrated primarily in Asia, will enable children from China, Japan, Korea and Taiwan to learn English in a fun and engaging environment.

The Company has identified China, India and Russia as key growth markets for many of its products and services. Over the coming year, Walt Disney International will implement its strategy for expansion in these three regions. Newly appointed managing directors for China and India will be building local offices and working with Walt Disney Television and other Disney businesses to expand Disney's brand presence. The Company plans to increase its television presence in both China and India through Disney Channel and branded program blocks. Walt Disney International will also focus on opportunities created by expanding new technologies, particularly in Asia's booming mobile and broadband sectors. And in support of the launch of Hong Kong Disneyland, the international group will play a central role in coordinating and implementing marketing plans that bring together the strengths of all of the Company's businesses.

Mickey and Minnie Mouse stroll along The Great Wall during a recent visit to China.