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

Establishment of New Copyright Business Company

May 1, 2003 - Oriental Land Co., Ltd. (“Oriental Land”) announces its decision to establish a new, wholly owned subsidiary to conduct development, acquisition, promotion of use and management of intellectual properties toward the full-scale development of Oriental Land’s own copyright business. In July 2000, Oriental Land entered the licensing business on a small scale in areas including the publication of illustrated books featuring “Nepos Napos,” a group of original characters from the Camp Nepos facility for children, and fee-based distribution of contents to cellular phone sites, as well as sales of an original CD based on the activities of Camp Nepos. With the establishment of the new company, Oriental Land plans to promote and reinforce the development of this business. The new company’s specific action plan includes strengthening publishing and licensing for Nepos Napos to improve market recognition and penetration of the characters, as well as carrying out sales of character merchandise products. In addition, the new company plans to vigorously promote the future expansion of the copyright business through parallel measures such as developing and scouting other new characters and contents, and acquiring their copyrights and expansion rights as it deems appropriate. Following a preparation period, Oriental Land plans to register the establishment of the new company in late May.