Euro Disney S.C.A. Reports Revenues for the First Quarter of Fiscal Year 2010

MARNE-LA-VALLEE, France, February 9 /PRNewswire-FirstCall/ –

– Total Revenues Decreased 11% to EUR 292 Million, Driven by Lower Theme
Parks Attendance and Hotel Occupancy

– Increase in Average Spending per Room and Flat Average Spending per
Guest

Euro Disney S.C.A. (the “Company”), parent company of Euro Disney
Associes S.C.A., operator of Disneyland(R) Paris, reported today the
following revenues for its consolidated group (the “Group”) for the first
quarter of fiscal year 2010 which ended December 31, 2009 (the “First
Quarter”):

                                           Quarter Ended
                                           December 31,         Change
    (EUR in millions, unaudited)          2009     2008     Amount       %
    Theme parks                          164.7    186.1    (21.4)    (11.5)%
    Hotels and Disney(R) Village         112.3    124.6    (12.3)     (9.9)%
    Other                                 13.8     12.3      1.5      12.2%
    Resort operating segment             290.8    323.0    (32.2)    (10.0)%
    Real estate development operating
    segment                                1.2      3.4     (2.2)    (64.7)%
    Total revenues                       292.0    326.4    (34.4)    (10.5)%

Resort operating segment revenues decreased by 10% to EUR 290.8 million
from EUR 323.0 million in the prior-year period.

Theme parks revenues decreased by 12% to EUR 164.7 million from EUR 186.1
million in the prior-year period, primarily resulting from an 11% decrease in
attendance. The decrease in attendance was driven by fewer guests visiting
from the United Kingdom and France. Average spending per guest remained on
par with the prior-year.

Hotels and Disney(R) Village revenues decreased by 10% to EUR 112.3
million from EUR 124.6 million in the prior-year period, due to a 9.9
percentage points decrease in hotel occupancy, partly offset by a 3% increase
in average spending per room. The reduction in hotel occupancy resulted from
52,000 fewer room nights compared to the prior-year period, primarily due to
fewer guests visiting from the United Kingdom and lower business group
activity. The increase in average spending per room reflected changes to
pricing and promotions strategies.

Other revenues, which include participant sponsorships, transportation
and other travel services sold to guests, increased EUR 1.5 million to EUR
13.8 million.

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

“Our First Quarter revenues reflect the continuation of the difficult
economic environment with a decrease in Resort visitation. In the first
quarter 2009, our revenues had not yet been fully impacted by the economic
decline, partly because of the way guests book their vacations in advance of
visits. This changed and intensified throughout 2009, with our guests now
booking closer to their visits while also searching for promotions. However,
our pricing and promotion strategies in the First Quarter enabled us to
increase hotel per room spending and keep per guest spending in our parks on
par with the prior-year.

We remain committed to delivering a high-quality, unique Disney
entertainment experience to drive revenues while managing our costs. In April
we will launch the Disney New Generation Festival, a new annual celebration,
creating even more reasons to visit. We also continue to invest in the
development of our resort and look forward to opening Toy Story Playland with
its three new attractions, in summer 2010. We believe the strength of the
Disney brand and our commitment to guest service will allow us to grow our
business as the economic environment improves.”

UPDATE ON RECENT AND UPCOMING EVENTS

A study on the socio-economic impact of Disneyland(R) Paris was issued on
December 16, 2009 by the interministerial Delegation for the Euro Disney
project in France. The study confirms Disneyland Paris as a leading vacation
destination and as the fifth largest hotel complex site in France. The study
notably concluded that:

    - 6.43% of France's tourism income from foreign visitors is
      generated by Disneyland Paris guests
    - 1 job at Disneyland Paris generates 2.78 jobs elsewhere in France
    - 56,000 permanent direct and indirect jobs have been created in
      France by Disneyland Paris activity

This study can be found on the Ile de France Prefecture’s website and is
only available in French
(http://www.idf.pref.gouv.fr/actu/communique/2009/etude-impact-pole-
disneyland-paris.html).

(Due to the length of this URL, it may be necessary to copy and paste
this hyperlink into your Internet browser’s URL address field. Remove the
space if one exists.)

In April 2010, Disneyland(R) Paris will launch the New Generation
Festival, a celebration welcoming the most recent Disney characters into the
parks. New characters, such as Remy[1] and Princess Tiana[2], will be
showcased in the Once Upon a Dream Parade, and Disney’s Stars ‘n’ Cars and on
the Disney all stars express.

During the celebration in summer 2010, the Walt Disney Studios(R) Park
will introduce three new family attractions in Toy Story Playland, inspired
by the animated Disney-Pixar feature Toy Story. With oversized decor, guests
will have the impression that they’ve been reduced to the size of Andy’s toys
as they come to life in Toy Soldiers Parachute Drop, Slinky Dog[3] Zig Zag
Spin and RC Racer.

         Next Scheduled Release in February 2010: Annual general meeting
                             of the shareholders

          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 center, and a 27-hole golf course. The Group’s
operating activities also include the development of the approximately
2,000-hectare site, half of which is yet developed. Euro Disney S.C.A.’s
shares are listed and traded on Euronext Paris.

———————————

[1] Featured in the Disney(c)/Pixar movie Ratatouille

[2] From the Disney(c) animated feature The Princess and the Frog

    [3] Slinky(R) Dog is a registered trademark of Poof-Slinky, Inc. All
rights reserved.

    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.