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The following is an excerpt from a 10-K SEC Filing, filed by WALT DISNEY CO/ on 12/21/1999.
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WALT DISNEY CO/ - 10-K - 19991221 - PROPERTIES

ITEM 2. Properties

The Walt Disney World Resort, Disneyland Park and other properties of the Company and its subsidiaries are described in Item 1 under the caption Theme Parks and Resorts. Film library properties are described in Item 1 under the caption Studio Entertainment. Radio and television stations owned by the Company are described in Item 1 under the caption Media Networks.

A subsidiary of the Company owns approximately 51 acres of land in Burbank, California on which the Company's studios and executive offices are located. The studio facilities are used for the production of both live-action and animated motion pictures and television products. In addition, Company subsidiaries lease office and warehouse space for certain studio and corporate activities. A 397,000 square-foot office building is under construction in Burbank, California, with an expected completion date during 2000. Other owned properties include a 400,000 square-foot office building in Burbank, California, which is used for the Company's operations.

A subsidiary of the Company owns approximately 2.2 million square feet of office and warehouse buildings on approximately 113 acres in Glendale, California. The buildings are used for the Company's operations and also contain space leased to third parties. A 142,000 square-foot broadcast facility for KABC-TV is under construction with an expected completion date during 2000.

The Company's Media Networks segment corporate offices are located in a building owned by a subsidiary of the Company in New York City. A Company subsidiary also owns the ABC Television Center adjacent to the corporate offices and ABC Radio Networks' studios, also in New York City.

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Subsidiaries of the Company own the ABC Television Center and lease the ABC Television Network offices in Los Angeles, the ABC News Bureau facility in Washington, D.C. and a computer facility in Hackensack, New Jersey, under leases expiring on various dates through 2034. The Company's 80%-owned subsidiary, ESPN, Inc., owns ESPN Plaza in Bristol, Connecticut, from which it conducts its technical operations. The Company owns the majority of its other broadcast studios and offices and broadcast transmitter sites elsewhere, and those which it does not own are occupied under leases expiring on various dates through 2039.

A U.K. subsidiary of the Company owns buildings on a four-acre parcel under long-term lease in London, England. The mixed-use development consists of 140,000 square feet of office space occupied by subsidiary operations, a 27,000 square-foot building leased to a third party and 65,000 square feet of retail space. A second phase of this development, completed in 1998, includes a 142,000 square-foot office building occupied by Company subsidiaries in 1999. Company subsidiaries also lease office space in other parts of Europe and in Asia and Latin America.

The Disney Stores and Disney Regional Entertainment lease retail space for their operations.

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