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DISNEY DECLARES STOCK SPLIT

 DISNEY DECLARES STOCK SPLIT
 LAKE BUENA VISTA, Fla., Feb. 18 /PRNewswire/ -- The board of


directors of the Walt Disney Company today approved a four-for-one split of the company's common stock, subject to shareholder approval of an amendment to the corporate charter increasing the number of authorized company shares.
 A special shareholder's meeting to seek such approval will be held on April 20 at Burbank, Calif.
 The announcement was made by Michael D. Eisner, chairman and chief executive officer, to company shareholders attending the company's annual meeting at Walt Disney World Resort.
 Eisner said, "The price of our shares has recently moved higher after having been well above the $100 figure for most of the past three years. By taking this action, our board hopes to make Disney shares accessible to a broader segment of the investing public."
 If approved by shareholders, it is expected that the effective date of the split will be April 20 for shareholders of record on that date.
 As a result of the split, the approximately 131 million shares of Disney common stock outstanding will increase to 524 million. To accomplish this, shareholders will be asked to increase the number of authorized common shares to 1.2 billion from the current 300 million and to reduce the par value of Disney common stock from 10 cents to 2 1/2 cents. The par value reduction will have no impact on the market value of the stock.
 Disney will send proxy materials in mid-March to shareholders of record on March 2.
 Disney's last stock split was a four-for-one exchange in February 1986.
 -0- 2/18/92 R
 /CONTACT: Erwin Okun, senior vice president of Walt Disney Company, 407-934-3951/
 (DIS) CO: Walt Disney Company ST: California, Florida IN: ENT SU:


KD-OS -- NY035R -- 9919 02/18/92 12:01 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Date:Feb 18, 1992
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