February 2, 2005
2005 Annual Meeting of Shareholders FAQ

Because The Walt Disney Company is currently in the middle of a great deal of controversy, they have taken great pains to make sure that everyone who wishes to attend the 2005 annual meeting of shareholders has an opportunity to do so. For shareholders attending, or considering attending, the meeting, the answers to these frequently asked questions might come in handy.

Where will the meeting take place?

The meeting will be held on Friday, February 11, 2005 at the Minneapolis Convention Center in Minneapolis, Minnesota. This location was chosen because nothing less convenient or in a place with worse weather could be found on short notice.

What time will the meeting begin?

Shareholders can begin registering for the meeting at 10 a.m. The meeting will begin promptly at 10:05 a.m.

What time will the doors to the Convention Center open?

11 a.m.

Will I need a ticket to enter the Meeting?

Yes. Registered shareholders will receive a ticket to the meeting along with their proxy materials and annual report. If you did not receive a ticket, mail your request to Corporate Shareholder Services. Allow 60 days for a response.

I hold my shares through a broker. How do I enter the meeting?

Through the Convention Center's front doors.

Will I need to bring identification?

Yes, each shareholder must provide valid photo identification such as a driver license or passport, and must have a notarized statement of their willingness to only report positively on the company.

What will happen if the Convention Center fills to capacity?

If all 50 seats in the Convention Center Ballroom are filled, you will be directed to an overflow seating facility where there will be free alcohol, food, and corporate promotional videos.

I would like to bring a guest with me, is that possible?

No. Find a babysitter.

I can't make it to the meeting. Can I give my ticket to some friends or sell it on eBay?

Certainly! Just make sure that they know they can't use it to get into the meeting.

Can I bring my camera, tape recorder, and laptop computer into the theater?

No. Cameras, cell phones with photographic capabilities, portable recording devices, briefcases, backpacks, laptop computers, pens, pencils, paper, Etch-a-Sketches, and people with eidetic memories must be left outside the Convention Center Ballroom.

Will parking be available at the Convention Center?

No, you have to walk. The airport is closed, too.

Will there be accommodations for guests with special needs?

The Convention Center Ballroom is wheelchair accessible. A sign-language interpreter will be available for guests with hearing challenges, but all translations will be encrypted. Also, the company respectfully asks that visibly handicapped or particularly unpleasant looking individuals remain toward the rear of the ballroom while the official corporate photographer is working with Mr. Eisner.

How long will the meeting last?

Approximately 10 minutes.

Can I ask a question at the meeting?

No. Only select shareholders will be allowed to ask questions, and those will be provided by the company.

Are there convenient local accommodations for visitors from outside Minneapolis?

No. In an effort to bolster the great city of Minneapolis' tourist trade, The Walt Disney Company has booked up every hotel, motel, boarding house, and bed-and-breakfast room within 50 miles of the meeting.

It's not really related to the meeting, but why is there a picture on the back of the Annual Report of Chicken Little eating Mickey Mouse's head?

Chicken Little will be a wonderful feature film, and The Walt Disney Company expects that it will not only completely vindicate the company's decision to sack all of the talented people responsible for the company's past successes, but will also vastly outperform anything Pixar does without us.

The artwork on the back cover of the company's 2005 annual report, symbolizing modern methods consuming outdated ones, was placed there by the same politically minded art director who put the picture of the screaming-in-fear characters on the report's feature animation page. The person responsible has been sacked.