BURBANK, California, December 8 /PRNewswire/ --     In order to expand its kids and family media business in Europe and
extend its brand leadership around the world, The Walt Disney Company (NYSE:
DIS) announced that one of its subsidiaries has entered into agreements to
acquire outstanding shares of Jetix Europe N.V. (AMEX: JETIX; Reuters:
JETIX.AS; Bloomberg: JETIX.NA) for EUR 11 per share, which will bring
Disney's ownership of the pan-European kids entertainment company to
approximately 96%.

Completion of the transaction is expected to take place before the end of
the year. Following such completion, Disney intends to obtain ownership of
100% of the shares in Jetix, including through statutory buy-out proceedings.
In addition, Disney and Jetix intend to seek termination of Jetix's listing
on Euronext Amsterdam.

The acquisition will position Disney to better serve its large and
growing Jetix audience and distribution partners through improved
programming, more targeted branding, more integrated management, and
implementation of company-wide synergies.

"Television continues to be a strong brand builder for Disney around the
world and this investment enhances our efforts to reach kids and families,"
said Anne Sweeney, co-chair, Disney Media Networks and president, Disney-ABC
Television Group. "By achieving operating efficiencies, we will have
additional opportunities to create more family-friendly programming and
locally-produced content across Europe."

Disney acquired its original interest in Jetix Europe (formerly Fox Kids
Europe), which reached 24 million subscribers, when it purchased Fox Family
Worldwide from News Corp. in 2001.

About Jetix Europe

Jetix Europe is a pan-European media company comprised of television
channels, program distribution and consumer products businesses. Its
programming, geared towards kids age 6-14, currently reaches a combined 137
million television households in 58 countries and 18 languages. JCP (Jetix
Consumer Products International) is Jetix Europe's consumer products and home
entertainment business with representation in 30 European countries including
fully integrated offices in the UK, France, Germany, Israel, Italy, Spain and
the Netherlands as well as third party agents in other key markets.

About Jetix

Disney operates other Jetix channels and/or programming blocks in Latin
America, India, Japan and the United States.

The wholly-owned Jetix channels in Latin America reach 19.8 million
subscribers. 150 hours per week of Jetix programming airs on India's Toon
Disney channel, reaching 55 million subscribers, and 35 hours per week airs
on Japan's Toon Disney, reaching 4.5 million subscribers.

In the U.S., 90 hours per week of Jetix-branded programming airs on the
wholly-owned basic cable channel Toon Disney reaching more than 72 million
homes.

About The Walt Disney Company

The Walt Disney Company (NYSE:DIS), together with its subsidiaries and
affiliates, is a leading diversified international family entertainment and
media enterprise with four business segments: media networks, parks and
resorts, studio entertainment and consumer products. Disney, a Dow 30
company, had annual revenues of more than $37 billion in its most recent
fiscal year.

Contacts:

    The Walt Disney Company:
    Zenia Mucha
    +1-818-560-5300

    Michelle Bergman
    +1-818-560-8231

    Disney-ABC Television Group:
    Kevin Brockman
    +1-818-460-6655

    Patti McTeague
    +1-818-955-6743

    Joss Hastings
    +44-208-636-4544