DISNEY TEAMS WITH AMERICA ONLINE AND NETSCAPE FOR A SPECIAL SNEAK PREVIEW
OF ITS VAST NEW WEB SITE

10-DAY "SNEAK PEEK" OF DISNEY.COM BEGINS TODAY

BURBANK, Calif. (February 12, 1996) -- To build excitement for the February
22nd Internet-wide launch of the Disney.com site on the World Wide Web,
The Walt Disney Company is offering a sneak preview through America Online
(AOL) and Netscape Communications Corporation for a 10-day period,
beginning today. During the preview, AOL and Netscape visitors will be the
first to tour the new Disney.com family entertainment Web site and
participate in specially created live events and contests.

"We're very excited to be working with two of the most significant players
in cyberspace, AOL and Netscape, in launching Disney.com," said Jake
Winebaum, president of Disney Online. "Disney.com brings the breadth of
Disney's properties to families in a powerful new way."

AMERICA ONLINE

During the 10-day preview for its members, America Online and Disney have
created a custom Disney area, featuring a daily scavenger hunt which
offers exciting Disney prizes, and AOL Live! events with Mickey Mouse and
other Disney characters in their first live chat appearances. AOL members
can experience the magic of Disney.com at keyword: Disney.com.

"The name Disney is synonymous with a world of wonder," said Ted Leonsis,
president of America Online Services Company. "It is with great enthusiasm
that we welcome Mickey Mouse and his friends to America Online for this
10-day sneak preview of Disney.com. We know that Disney will enthrall us
with their magic in cyberspace, as they have engaged us for years at the
movies, on television, and at the Disney theme parks."

Highlights of AOL's Disney.com preview include:

 A Scavenger Hunt, in which AOL members search the Disney.com site
 for answers to clues. They can also win daily prizes of Disney
 merchandise and enter to win a vacation for four to Walt Disney
 World in Orlando, Florida.

 A special four-night series of AOL Live! chats with various Disney
 characters in their online debuts, beginning Monday, February
 12th at 8:00 p.m. EST with Mickey Mouse in Center Stage. Tuesday
 evening, February 13th, AOL members can chat live with Buzz and
 Woody from the hit Disney movie, Toy Story. In a special Valentine's
 Day evening chat on Wednesday, February 14th, the lovelorn Miss
 Piggy will be on AOL, giving advice and talking to her many fans
 and admirers. The Disney.com preview chat series concludes Thursday
 evening, February 15th, with Belle, the star of Disney's new
 afternoon series, Sing Me A Story With Belle.

NETSCAPE

Disney has also joined forces with Netscape for its sneak preview launch of
Disney.com. During the 10-day preview period, a button will appear on the
Netscape home page, allowing customers to access Disney.com with a simple
mouse click. In addition, a special Disney.com page will provide
information about the sneak preview and will link both to the site and to
a special sweepstakes page. Guests can register for a sweepstakes drawing
and a chance to win special Disney prizes, including a grand prize trip
for four to Walt Disney World.

Tying in with Netscape's promotion of its new Netscape Navigator 2.0,
banners placed throughout the Internet promoting the Disney.com sneak
preview will encourage guests to enter the special Disney.com sweepstakes
area on the Netscape home page, where they can download Netscape Navigator
2.0 to maximize the enjoyment of their visit.

"The Disney.com site is a wonderful addition to the Internet, and the
powerful features of the Netscape Navigator 2.0 will make this unique Web
experience even richer and more enjoyable," said Mike Homer,
vice-president of marketing for Netscape.

Disney.com is the first in a series of family online products from Disney
Online, a Disney Interactive division founded in September 1995.

America Online, Inc., (NASDAQ symbol: AMER), based in Vienna, Virginia, is
the largest and fastest growing provider of online services in the world
with the most active subscriber base. AOL offers its more than 5 million
subscribers a wide variety of services as well as easy and affordable
access to services of the Internet.

Netscape Communications Corporation is a premier provider of open software
for linking people and information over enterprise networks and the
Internet. The company offers a full line of Netscape Navigator clients,
servers, development tools, and Netscape Commercial Applications to create
a complete platform for next-generation, live online applications. Traded
on NASDAQ under the symbol "NSCP," Netscape Communications Corporation is
based in Mountain View, California.

Corporate Sales: 415/528-2555; Personal Sales: 415/528-3777
If you have any questions, please visit Customer Service.
 
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