This excerpt taken from the DIS DEF 14A filed Jan 6, 2005.
The following graph compares the performance of the Companys common stock with the performance of the Standard & Poors 500 Composite Stock Price Index and a peer group index over the five-year period extending through the end of fiscal 2004. The graph assumes that $100 was invested on September 30, 1999 in the Companys common stock, the S&P 500 Index and the peer group index and that all dividends were reinvested.
The peer group index consists of the companies that were formerly included in the Standard & Poors Entertainment and Leisure Index. Although Standard & Poors discontinued this index in January 2002, the Company believes the companies included in the index continue to provide a representative sample of enterprises in the primary lines of business in which the Company engages. These companies are, in addition to The Walt Disney Company, media enterprises Time Warner Inc. and Viacom Inc.; resort and leisure-oriented companies Carnival Corporation, Harrahs Entertainment, Inc., Hilton Hotels Corporation, Marriott International, Inc. and Starwood Hotels and Resorts Worldwide, Inc.; and consumer-oriented businesses Brunswick Corporation, Darden Restaurants, Inc., McDonalds Corporation, Starbucks Corporation, Yum! Brands, Inc. and Wendys International Inc.