EURO DISNEY S.C.A. Reports Revenues for the First Quarter of Fiscal Year 2011

EURO DISNEY S.C.A. - Fiscal Year 2011 - First Quarter Announcement

MARNE-LA-VALLEE, France, February 8, 2011 - 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 the fiscal year 2011 which ended December 31, 2010 (the "First
Quarter"):

                                               Quarter ended
                                                December 31,          Change
    (EUR in millions, unaudited)                2010   2009  Amount      %

    Theme Parks                                169.4  164.7     4.7     2.9%
    Hotels and Disney(R) Village               127.6  112.3    15.3    13.6%
    Other                                       10.1   13.8    (3.7) (26.8)%

    Resort operating segment                   307.1  290.8    16.3     5.6%
    Real estate development operating segment    9.7    1.2     8.5    >100%

    Total Revenues                             316.8  292.0    24.8     8.5%

Resort operating segment revenues increased 6% to EUR 307.1
million from EUR 290.8 million in the prior-year period.

Theme parks revenues increased 3% to EUR 169.4 million from
EUR 164.7 million in the prior-year period, resulting from a 2% increase in
average spending per guest, combined with a 1% increase in attendance. The
increase in average spending per guest was due to higher spending on food and
beverage. The increase in attendance was driven by more guests visiting from
France and Belgium, partially offset by fewer guests visiting from the United
Kingdom and the Netherlands.

Hotels and Disney(R) Village revenues increased 14% to EUR
127.6 million from EUR 112.3 million in the prior-year period due to a 5.6
percentage points increase in hotel occupancy, combined with a 7% increase in
average spending per room. The increase in hotel occupancy resulted from
30,000 additional room nights compared with the prior-year period, primarily
due to more French guests staying overnight and higher business group
activity. The increase in average spending per room resulted from higher
spending on food and beverage and an increase in daily room rates.

Other revenues, which primarily include participants
sponsorships, transportation and other travel services sold to guests,
decreased by EUR 3.7 million to EUR 10.1 million from EUR 13.8 million in the
prior-year period.

Real estate development operating segment revenues increased
by EUR 8.5 million to EUR 9.7 million, compared to EUR 1.2 million in the
prior-year period. This increase is due to four transactions in the First
Quarter, while no transaction occurred in the prior-year period.

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

"Following the improvement we saw at the end of last year, we
are encouraged that our First Quarter guest visitation and spending continued
to improve over the prior year. Total first quarter revenues were up 8%
versus last year, which is particularly significant given the extensive
travel disruptions experienced throughout Europe during the holiday season.

We look forward to launching the Disney Magical Moments
Festival this spring, where we will celebrate the role of Disney magic in
creating lasting memories for families and friends at the Resort."

UPDATE ON RECENT AND UPCOMING EVENTS

Les Villages Nature de Val d'Europe

On November 24, 2010, the Group and Groupe Pierre & Vacances
Center Parcs announced a joint-venture for Les Villages Nature de Val
d'Europe, a new vacation destination project based on the concept of harmony
between man and nature. For more details on this project, please refer to the
press release issued on November 24, 2010 and available on the Company's
website.

Disney Magical Moments Festival

The Disney Magical Moments Festival will be launched this
spring to celebrate bringing the Disney magic to life for families and
friends to share special moments at the Resort. Guests will have even more
opportunities this year, throughout their visit, to share those magical
Disney moments with their favourite Disney characters that will be remembered
forever.

         Next Scheduled Release in February 2011: Annual general meeting
                    of the shareholders on March 4, 2011

          Additional financial information can be found on the internet
                   at 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
2,230-hectare site, half of which is yet to be developed. Euro Disney
S.C.A.'s shares are listed and traded on Euronext Paris.

    Press Contact Investor Relations

    Laurent Manologlou                     Olivier Lambert
    Tel : +33-1-64-74-59-50                Tel : +33-1-64-74-58-55
    Fax : +33-1-64-74-59-69                Fax : +33-1-64-74-56-36
    e-mail: laurent.manologlou@disney.com  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

Press Contact Investor Relations: Laurent Manologlou, Tel : +33-1-64-74-59-50, Fax : +33-1-64-74-59-69, e-mail: laurent.manologlou at disney.com; Olivier Lambert, Tel : +33-1-64-74-58-55, Fax : +33-1-64-74-56-36, e-mail: olivier.lambert at disney.com; Corporate Communication: Jeff Archambault, Tel : +33-1-64-74-59-50, Fax : +33-1-64-74-59-69, e-mail: jeff.archambault at disney.com