WALT DISNEY INTERNET GROUP AND FAR EASTONE TELECOMMUNICATIONS ENTER INTO CONTENT DISTRIBUTION AGREEMENT

Walt Disney Internet Group and Far EasTone Telecommunications have entered into an arrangement that will bring Disney Mobile branded wireless content to Far EasTone customers in Taiwan.

NORTH HOLLYWOOD, CALIF. and TAIPEI, TAIWAN ¡V (September 4, 2002) ¡V Walt Disney Internet Group and Far EasTone Telecommunications have entered into an arrangement that will bring Disney Mobile branded wireless content to Far EasTone customers in Taiwan.

Available now, the Disney Mobile service is offered on Far EasTone and can be previewed at [http://www.fetnet.net]. The content is based on Disney¡¦s lineup of classic characters, which include Mickey Mouse, Minnie Mouse and Donald Duck, as well as on modern classics, such as Beauty and the Beast, Mulan, and The Lion King.

The Disney Mobile service can be accessed through SMS short codes or a WAP menu on the handset. Over time, content offerings will be expanded to take advantage of enabling technologies such as Java.
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¡§The Taiwan market is one of the most highly penetrated mobile markets in the world,¡¨ said Mark Handler, executive vice president and managing director, International, Walt Disney Internet Group. ¡§We are very pleased to establish a relationship with Far EasTone, a market leader with whom we can provide Disney Mobile content to consumers.¡¨

¡§In providing the best and most exciting mobile services to our more than four million mobile customers, we are proud to be partnering with the Walt Disney Internet Group to make available Disney content via Far EasTone,¡¨ said Jin-lin Liang, vice president of Product Management and Operations. ¡§Picture and ringtone downloads have always been one of the most popular services and Far EasTone already offers more than 5,000 pictures and ringtones for some 40 mobile phone models. The addition of this new service will be thoroughly enjoyed by our customers, knowing our customers young and old alike have a strong love for Disney characters.¡¨

Disney Mobile entered the Asian wireless market in the summer of 2000 with the launch of Disney-i on NTT DoCoMo's platform in Japan. Today, Disney Mobile has more than 2.5 million paid subscriptions. The company has signed wireless content distribution agreements covering 15 International markets.

About Walt Disney Internet Group
Walt Disney Internet Group (WDIG) provides strategic leadership and operational management for The Walt Disney Company¡¦s (NYSE:DIS) Internet properties including category leaders Disney.com, ESPN.com, ABCNews.com and ABC.com. WDIG has led the way in developing new forms of interactive content, such as its Enhanced TV service which showcases the convergence of video and interactive programming, and is a market leader in developing and distributing entertainment and informational content to new platforms. Through relationships with some of the world's largest wireless carriers, WDIG distributes content and services to wireless users under the Disney, ESPN and ABC brands. Steve Wadsworth is president of WDIG, which is headquartered in North Hollywood, CA, and has operations in Seattle, New York, Orlando, Fla., Tokyo and London.

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About Far EasTone
Far EasTone is a leading integrated mobile communication service provider in Taiwan. As of the end of 2001, its audited revenue has reached over NT$34.544 billion, while its net income totaled NT$6.659 billion. For the first quarter of 2002, FET posted a total revenue of NT$ 8.2 billion and EBITDA of NT$3.6 billion. Far EasTone is devoted to providing integrated services that combine mobile communication and the Internet, enabling customers to enjoy more convenience using the Internet to get diversified and personalized information. We look forward to realizing our vision for the 21st century: ¡§Anywhere, anytime, communications to enrich the lives people.¡¨

For more information about Far EasTone, please see http://www.fetnet.net