Oriental Land Co., Ltd.
Code Number: 4661
(Tokyo Stock Exchange, First Section)

Oriental Land to Acquire Stake in D Wonderland Inc.
July 22, 2003 - The Board of Directors of Oriental Land Co., Ltd. (“Oriental Land”) today resolved to acquire an equity stake in D Wonderland Inc. (Code Number: 9611; Headquarters: Shibuya-ku, Tokyo) by purchasing all new shares of D Wonderland to be issued through a private placement. Consequently, Oriental Land will hold 25.11 percent of the outstanding shares of D Wonderland, which will become an equity-method affiliate of Oriental Land. D Wonderland will handle Disney Wonderland, a paid internet content service available on Disney BB on FLET’S*, which was launched on July 22, 2003. Disney Wonderland is the first broadband program of its kind. It targets children three to six years old, and allows them to learn while having fun. Oriental Land believes that this equity participation provides an opportunity to gain know-how in the new field of broadband internet services, which will open possibilities for further business growth and development for the Oriental Land Group.
*Disney BB on FLET’S is an entirely new broadband internet content service for users of NTT East and NTT West’s FLET’S which fuses Disney entertainment to the newest broadband technology.

Information concerning D Wonderland Inc. and the private placement of new shares is as follows: 1. Overview of D Wonderland Inc. (1) Company name:
D Wonderland Inc.
(2) Representative:
Chieko Aoki, President, CEO and Representative Director
(3) Head Office:
17-11 Ryoshin Harajuku Building, Jingumae 6-chome, Shibuya-ku, Tokyo
(4) Date of establishment:
October 14, 1982 (Former name: T&E SOFT Inc.)
(5) Business:
Home video game equipment; software planning, development, production and sale; comprehensive information support using telecommunications networks
(6) Fiscal year:
Year ending September 30
(7) Number of employees:
53 (as of March 31, 2003)
(8) Paid-in capital:
¥2,969 million (¥3,719 million after the placement)
(9) Outstanding shares:
10,651 thousand (14,223 thousand after the placement)
(10) Principal shareholders: Shareholders whose percentage of total
shares outstanding is over 5%

Principal shareholders before the placement
Name
Number of Shares
Percentage of total shares outstanding
Masashi Miyamoto
7,564 thousand
71.01%
Square Enix Co., Ltd.
1,234 thousand
11.58%
Principal shareholders after the placement
Name
Number of Shares
Percentage of total shares outstanding
Masashi Miyamoto
7,564 thousand
53.18%
Oriental Land Co., Ltd.
3,572 thousand
25.11%
Square Enix Co., Ltd.
1,234 thousand
8.68%
2. D Wonderland Inc.’s private placement of new shares (1) Number of new shares to be issued: 3,572,000 shares (2)
Issue
price:
¥420
per
share
(3)
Gross
proceeds:

¥1,500,240,000
(4) Capitalization amount:
¥210 per share
(5) Total amount capitalized:

¥750,120,000
(6) Subscription deadline:
September 24, 2003 (Wednesday)
(7) Payment deadline:
September 25, 2003 (Thursday)
(8) Dividend calculation:
From October 1, 2002 (Tuesday)
(9) Conditions for the placement:
Entry into force of registry under the Securities Exchange Law and the approval of a special resolution at the D Wonderland Inc. extraordinary meeting of shareholders on September 22, 2003
(10) Party receiving the placement:
Oriental Land Co., Ltd. (all shares issued)

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