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April 20, 2004
To whom it may concern,
Oriental Land Co., Ltd.
(Ticker Code: 4661)

Oriental Land Co., Ltd. Issues #6 Straight Bonds
and
Concludes Earthquake Risk Correspondence Type Credit Facility
We would like to inform you that we have priced our #6 straight bond based on the domestic straight bond shelf registration (Expected issue size of JPY20bn, valid until April 12, 2006), and concluded Earthquake Risk Correspondence Type Credit Facility with Mizuho Corporate Bank, Ltd. as Lead manager.
The objective of these agreements above is to hedge any risk of potential earthquakes, due to our outstanding CAT bond (Issued in May 1999) that supposed to mature on May 13, 2004.
The details of #6 Straight Bond and Earthquake Risk Correspondence Type Credit Facility are as follows:
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#6 Straight Bond

1. Issue Title
Oriental Land Co., Ltd. Series 6 Senior Unsecured Straight Bond
(Rank Pari passu with Other Senior Unsecured Securities)
2. Issue Size
JPY 20,000,000,000
3. Face Value
JPY99.99/ JPY100 Face Value
4. Coupon
0.73%
5. Yield
0.732%
6. Maturity Date
May 7, 2009
7. Subscription Period
April 20, 2004
8. Issue Date
May 7, 2004
9. Syndicate Member
Morgan Stanley Japan Ltd. as Lead Manager + Other syndicate members
10. Fiscal Agent
Mizuho Corporate Bank, Ltd.
11. Rating
Rating and Investment Information, Inc.: AA-
Japan Credit Rating Agency, Ltd.: AA+



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Earthquake risk correspondence type credit facility
1. Credit Facility
Limit
JPY 10,000,000,000
2. Arranger
Mizuho Corporate Bank, Ltd.
3. Creditor
Mizuho Trust and Banking Co., Ltd. (Trust account)
4. Contract Period
April 21, 2004 – June 12, 2009
5. Credit Application Period
May 12, 2004 – May 12, 2009
6. Extension Option
June 12, 2009(Execution Day), Extendable to May 12,2011
7. Participant
Mizuho Corporate Bank, Ltd. The Dai-ichi Mutual Life Insurance Co. The Chuo Mitsui Trust and Banking Co., Ltd.
The Chiba Bank, Ltd.