ADVISORY/Media Advisory from The Walt Disney Company.

Entertainment Editors/Business Editors

ADVISORY...Satellite Feed

--(BUSINESS WIRE)

WHAT:
        The Walt Disney Company (NYSE:DIS) and The Jim Henson Company
        today announced that they have entered into an agreement under
        which Disney will acquire the beloved "Muppets" and "Bear in
        the Big Blue House" properties from Henson. The transaction
        includes all Muppet assets, including the Kermit, Miss Piggy,
        Fozzie Bear, Gonzo and Animal characters, the Muppet film and
        television library, and all associated copyrights and
        trademarks, as well as all the "Bear in the Big Blue House"
        characters, television library, copyrights and trademarks. The
        parties have signed a binding purchase agreement and expect
        the transaction to close within two months, subject to
        receiving the necessary regulatory clearances. The transaction
        does not include the "Sesame Street" characters, such as Big
        Bird and Elmo, which are separately owned by Sesame Workshop.
        The deal also includes non-exclusive production and consulting
        agreements under which Henson will develop potential new
        programming featuring the "Muppets" and "Bear in the Big Blue
        House" for Disney.

WHO:
        Michael D. Eisner, Chairman and CEO, The Walt Disney Company
        Kermit, Miss Piggy and other Muppet characters B-roll

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