OTHER NEWS - April 1, 1994

Optimism From Euro Disney: The money-losing Euro Disneyland will not post any significant growth in revenue before 1996, its chairman said in a magazine interview. Philippe Bourguignon said in Friday’s edition of L’Echo Touristique that Euro Disney SCA should be in the black next year, helped by a huge bailout package agreed to by creditor banks and parent Walt Disney Co. And barring any downturn in visitors, the theme park should become profitable in 1995, he said. Analysts, however, are skeptical of the figures. The deal includes a $1-billion rights issue, to which Walt Disney will subscribe to its full 49% share. Banks will forgive some interest and defer principal payment, while Walt Disney Co. will waive royalties and management fees for five years.