1. 1 Brazil Buena Vista International Business Overview Orlando October 2006

2. 2 Table of content –FY06 performance –FY07 overview –FY07 Drivers –Q1 Main titles P&L (The Guardian, Déjà vu & Saw 3). –Meet the Robinsons P&L. –Pirates: at world ends: P&L and term analysis. –Ratatouille: P&L and dating analysis. –Competitive schedule –Other Issues –FY07 Key opportunities –Key Issues –Local product update

3. 3 FY06 Performance (BRL millions) $49.1 $42.8 $13.3 - 41% +2% $48.0 $16.0 $7.8 +15% - 51% vs. FY05 vs. Budget

4. 4 Net Contribution Breakdown (In 000’s BRL) PIRATES 2 NARNIA CARS DIDI SCARY MOVIE 4 CHICKEN LITTLE FLIGHTPLAN OTHERS TOTAL OTHERS - LOSS TOTAL NET CONT 3.763 2.306 2.286 1.275 1.266 1.258 763 382 13.299 (5.462) 7.837

5. 5 Net Contribution Breakdown (In 000’s BRL) EIGHT BELOW GOAL THE WILD SHAGGY DOG A MAQUINA CINDERELLA MAN BAMBI 2 BASIC INSTINCT 2 Titles to be released in FY07 (19 Titles) Rejected Titles (26 Titles) TOTAL NET CONT - LOSS (656) (514) (479) (433) (378) (278) (230) (212) (1.712) (570) (5.462)

6. 6 FY06 Drivers (based on revenue)

7. 7 FY06 Drivers (based on net cont)

8. 8 FISCAL YEAR 2007 Business overview

9. 9 FY07 figures (BRL millions) $45.4$49.1 $7.8 +176% +80% $11.2 $37.5 $13.7 - 37% +92% vs. FY06vs. Budget +49% +57% vs. FY07F $67.5 $21.5 24 Titles 19 Titles 15 Titles 18 Titles

10. 10 FY07 Drivers (based on revenue)

11. 11 FY07 Drivers (based on net cont)

12. 12 The Guardian 370 Release date # of prints Revenue (000’s BRL) Ad/Pub (000’s BRL) Net Contribution (000’s BRL) Budget Local estimate 21-Oct-2005 138100 17-Nov-2006 2,425 802 686 Admissions (000’s) 665 2,3701,805 358630 988 -488 -

13. 13 Deja Vu 1,054 Release date # of prints Revenue (000’s BRL) Ad/Pub (000’s BRL) Net Contribution (000’s BRL) 09-Apr-1999 139150 01-Dec-2006 1,506 600 241 Admissions (000’s) 646 2,7933,626 1,3131,100 118 -941 - Budget Local estimate

14. 14 Saw 3 Release date # of prints Revenue (000’s BRL) Ad/Pub (000’s BRL) Net Contribution (000’s BRL) Budget Local estimate 02-Apr-2005 130 04-Nov-2005 157 200 02-Nov-2006 1,5003,440 N/A Admissions (000’s) 4981,067832 3,080 900 918 - - - - -

15. 15 Meet the Robinsons 685 Release date # of prints Revenue (000’s BRL) Ad/Pub (000’s BRL) Net Contribution (000’s BRL) 11-Nov-2005 281200 06-Apr-2007 4,891 1,704 941 Admissions (000’s) 1,500 4,6053,488 1,6881,200 908 -1,000 - Budget Local estimate

16. 16 Pirates of the Caribbean: at worlds end Release date # of prints Revenue (000’s BRL) Ad/Pub (000’s BRL) Net Contribution (000’s BRL) Budget Local estimate 09-Dec-2005 443 21-Jul-2006 481 480 25-May-2007 8,85211,125 3,3523,390 1,3533,502 Admissions (000’s) 2,7483,1062,850 10,631 3,000 4,002 - - 1,765 9,373 4,670

17. 17 Titles Comparison TITLE GBO (000’s R$) 37,531 ADMISSIONS (000’s) 4,663 24,6413,276 23,4923,108 19,1272,560 17,0422,182 # PRINTS 534 495 481 468 181 AD/PUB (000’s R$) 4,068 4,040 (*) 3,390 4,430 (*) 1,286 REVENUE – P&A (000’s R$) 11,708 5,351 (*) 5,730 2,320 (*) 5,311 16,0041,946451 4,415 (*)736 (*) (*) Estimated numbers

18. 18 Ratatouille Release date # of prints Revenue (000’s BRL) Ad/Pub (000’s BRL) Net Contribution (000’s BRL) Budget Local estimate 04-Jul-2003 294 30-Jun-2006 381 350 25-May-2007 12,5808,920 2,1643,258 7,4402,203 Admissions (000’s) 4,9582,8123,161 11,116 3,000 4,835 - - 2,683 11,115 5,773

19. 19 Ratatouille dating Analysis June 15 June 29 July 06 July 13 July 20 August 17

20. 20 Competitive Schedule

21. 21 Competitive Schedule

22. 22 Competitive Schedule

23. 23 FY07 Key Opportunities IMAX, DIGITAL CINEMA and REAL D Cinemark will open a 9 screens complex in São Paulo on Nov/24 th. One screen Digital + Real D. Already booked for Nightmare Before Xmas. Ribeiro will open a 4 screens complex in Rio de Janeiro first semester 2007. One screen will have Digital but no Real D confirmed yet. There is an IMAX screen confirmed for São Paulo. A local exhibitor will open an 8 screens complex + the IMAX by Sep/07. LOCAL PRODUCTION New law will increase local incentive for the use of withholding taxes in the TV business. There is an opportunity here to create local content for Disney Channel with a tie-in to Theatrical.

24. 24 FY07 Key Issues PRESIDENT LULA’S SECOND TERM Screen Quota increase for local productions? Short Length Feature Law? More regulations from Ancine? NOT EVEN GOD KNOWS !

25. 25 Local product update