Euro Disney S.C.A. Reports Revenues for the Nine Months Ended June 30, 2009

MARNE-LA-VALLEE, France, July 30 /PRNewswire-FirstCall/ –

– Nine-Month Year-To-Date Revenues Decreased 7% to EUR 867 Million,
Reflecting a Decline in Guest Spending, in Real Estate Revenues and in Hotel
Occupancy

– Third Quarter Revenues Decreased 7% to EUR 308 Million, Reflecting
Declines in Guest Spending and Hotel Occupancy

Euro Disney S.C.A. (the “Company”), parent company of Euro Disney
Associes S.C.A, operator of Disneyland(R) Paris, reported today the revenues
for its consolidated group (the “Group”), for the third quarter of fiscal
year 2009 (the “Third Quarter”), as well as the revenues for the nine months
ended June 30, 2009.

    Revenues for the nine months ended June 30, 2009:

                                            Nine Months
                                             Ended June
                                                30,             Variance
    (EUR in millions, unaudited)            2009     2008  Amount        %
    Theme parks                            482.1    498.4  (16.3)      (3.3)%
    Hotels and Disney(R) Village           341.4    371.4  (30.0)      (8.1)%
    Other                                   37.7     37.8   (0.1)      (0.3)%
    Resort operating segment               861.2    907.6  (46.4)      (5.1)%
    Real estate development operating
    segment                                  5.3     25.6  (20.3)     (79.3)%
    Total revenues                         866.5    933.2  (66.7)      (7.1)%

    Revenues for the Third Quarter:
                                           Third Quarter        Variance
    (EUR in millions, unaudited)           2009      2008  Amount        %
    Theme parks                           172.4     182.0   (9.6)      (5.3)%
    Hotels and Disney(R) Village          121.8     135.4  (13.6)     (10.0)%
    Other                                  13.1      12.6     0.5        4.0%
    Resort operating segment              307.3     330.0  (22.7)      (6.9)%
    Real estate development operating
    segment                                 0.4       0.5   (0.1)     (20.0)%
    Total revenues                        307.7     330.5  (22.8)      (6.9)%

Commenting on the results, Philippe Gas, Chief Executive Officer of Euro
Disney S.A.S, said:

“Consistent with the broader tourism industry in Europe, our revenues
have been impacted by the challenging economic environment and consumer
spending behavior. At the onset of the economic down turn, we implemented
promotional offers to which our proximity markets in particular have
responded. This decision has succeeded in driving attendance to Disneyland
Paris, confirming the strong affinity for quality Disney entertainment, while
at the same time impacting guest spending and margins.

We are closely managing our costs and have curtailed certain capital
spending in this current environment. However, in line with our long-term
growth strategy we continue to invest in the resort and are developing new
attractions to open next year.”

Revenues by Operating Segment FOR THE NINE MONTHS ENDED JUNE 30, 2009

Resort operating segment revenues decreased 5% to EUR 861.2 million from
EUR 907.6 million in the prior-year period.

For the nine months ended June 30, 2009, theme parks revenues decreased
3% to EUR 482.1 million from EUR 498.4 million in the prior-year period,
resulting from a 4% decrease in average spending per guest, partly offset by
a 1% increase in attendance. The reduction in average spending per guest was
due to lower spending on admissions and merchandise. This lower spending was
driven by a higher proportion of our guests visiting from markets close to
Paris. An increase in French and Belgian visitation drove theme parks
attendance and was partially offset by fewer guests visiting from Spain and
the United Kingdom.

For the nine months ended June 30, 2009, Hotels and Disney Village
revenues decreased 8% to EUR 341.4 million from EUR 371.4 million in the
prior-year period, reflecting a 3.8 percentage point decrease in hotel
occupancy and a 4% decline in average spending per room. The reduction in
hotel occupancy resulted from 66,000 fewer room nights compared to the
prior-year period, primarily driven by fewer guests visiting from Spain and
the United Kingdom and lower business group activity. This decrease was
partially offset by a higher level of French and Belgian guests. The decline
in average spending per room principally reflected more promotional offers
and lower spending on food and beverage.

Other revenues, which include participant sponsorships, transportation
and other travel services sold to guests, were comparable to the prior year
period.

Real estate development operating segment revenues declined by EUR 20.3
million from the prior-year period to EUR 5.3 million. Prior-year real estate
revenues included EUR 12.5 million of revenue related to the sale of a
property in Val d’Europe which had been subject to a long term ground lease.
The remaining decrease resulted from a reduction in the number of
transactions closed in the nine months ended June 30, 2009, with one
transaction closed in the current year compared to four in the prior-year
period.

Revenues by Operating Segment FOR THE THIRD QUARTER

Resort operating segment revenues decreased 7% to EUR 307.3 million from
EUR 330.0 million in the prior-year quarter despite the favorable impact of
the shift of the Easter holiday in some of our key markets from the second
quarter in the prior-year period to the Third Quarter in the current fiscal
year.

Theme parks revenues decreased 5% to EUR 172.4 million from EUR 182.0
million in the prior-year quarter, resulting from a 5% decrease in average
spending per guest. This reduction in average spending per guest was due to
lower spending on admissions and merchandise, driven by a higher proportion
of our guests visiting from markets close to Paris. Increased French and
Belgian visitation was offset by fewer guests visiting from Spain, the United
Kingdom and the Netherlands.

Hotels and Disney(R) Village revenues decreased 10% to EUR 121.8 million
from EUR 135.4 million in the prior-year quarter, due to a 6.1 percentage
point decrease in hotel occupancy and a 3% decline in average spending per
room. The reduction in hotel occupancy resulted from 32,000 fewer room nights
compared to the prior-year quarter, primarily driven by fewer business groups
and guests visiting from Spain and the United Kingdom partially offset by
more French and Belgian guests. The decline in average spending per room
principally reflected lower guest spending on food and beverage.

Update on recent AND UPCOMING events

On May 22, 2009, the Company announced the nomination of Greg Richart to
assume the responsibilities of Ignace Lahoud as Chief Financial Officer of
Euro Disney S.A.S. For further information, please refer to the press release
published on May 22, 2009 and available on the Company’s website.

The Group was involved in litigation with a counter party, seeking the
refund of certain tax expenses made as from calendar year 2001 related to the
Group’s hotels. In July, the Group settled this matter and recognized EUR 7.1
million as a reduction of Costs and expenses during the fourth quarter. For
further information on this matter, please refer to the Group’s reference
document registered with the Autorite des marches financiers (“AMF”) on
December 18, 2008 under the number D.08-0795 and available on the Company’s
website.

In the coming months, the Company will be sharing details of new
attractions that have begun construction and will be opened next year.

            Next Scheduled Release: Half-year report on the liquidity
                          contract in October 2009

          Additional Financial Information can be found on the internet
                   at http://corporate.disneylandparis.com

    Code ISIN: FR0010540740
    Code Reuters: EDL.PA
    Code Bloomberg: EDL FP

The Group operates Disneyland(R) Paris which includes: Disneyland(R)
Park, Walt Disney Studios(R) Park, seven themed hotels with approximately
5,800 rooms (excluding approximately 2,400 additional third-party rooms
located on the site), two convention centers, Disney(R) Village, a dining,
shopping and entertainment centre, and a 27-hole golf course. The Group’s
operating activities also include the development of the 2,000-hectare site,
half of which is yet developed. Euro Disney S.C.A.’s shares are listed and
traded on Euronext Paris.

    Press Contact

    Laurent Manologlou
    Tel: +33-1-64-74-59-50
    Fax: +33-1-64-74-59-69
    e-mail: laurent.manologlou@disney.com

    Investor Relations
    Olivier Lambert
    Tel: +33-1-64-74-58-55
    Fax: +33-1-64-74-56-36
    e-mail: olivier.lambert@disney.com

    Corporate Communication
    Jeff Archambault
    Tel: +33-1-64-74-59-50
    Fax: +33-1-64-74-59-69
    e-mail: jeff.archambault@disney.com

SOURCE Euro Disney S.C.A.