Roy Disney Selling 40 Percent of Disney Stake

Roy Disney announces plan to sell 7.5 million Disney shares for about $163 million.

• Roy Disney Selling 40 Percent of Disney Stake - Reuters (8/21/2003)
  Roy Disney is selling 40 percent of Disney stake and will retain the keep voting control of the stock for five years, a spokesman said.
• Roy Disney sells 7.5 million shares - Orlando Sentinel (8/21/2003)
  Roy Disney's family trust agreed to sell up to 7.5 million shares of his Disney holdings to Credit Suisse First Boston.
• Roy E. Disney Announces a "Variable Prepaid Forward'' Transaction - LP Wire (8/21/2003)
  Roy E. Disney announced today that a family trust he established has entered into a "Variable Prepaid Forward" ("VPF") transaction with Credit Suisse First Boston. The VPF transaction is essentially a forward sale of a portion of the shares in The Walt Disney Company held by the family trust.
• Disney's Vice Chairman Reaps $125 Million in Stock - Dow Jones (8/21/2003)
  The August 21st Dow Jones reports Roy Disney has announced his plan to sell about 43% of his stake in Disney and issued a statement that he "wanted to emphasize his continued dedication to the company."