The Walt Disney Company and the Hong Kong SAR Government have reached anagreement for a proposed Hong Kong Disneyland, a theme park development tobe built as the anchor of a tourism center on Lantau Island. Overlookingthe water at Penny's Bay, and on a main transit route from the new HongKong International Airport, the project will make Lantau Island aworld-class tourist destination and take advantage of the location's easyaccess by rail, highway and ferry to attract guests to the Park. Currentlyin the conceptual design phase, Hong Kong Disneyland will bring togetherthe best of rides, shows and attractions, and cutting-edge technology fromDisney parks around the world to create a mix of new and traditional Disneyentertainment experiences. The park will include areas already familiar tovisitors of Disneyland in Anaheim, California, including Main Street USA,Sleeping Beauty's Castle, Fantasyland, Toontown, Adventureland,Frontierland, and Tomorrowland. The proposed Disney Park will be thebeginning of a larger tourism center envisioned by the Hong Kong governmentfor North Lantau Island. The agreement is still subject to approval by theHong Kong Executive Council and Legislative Council and by The Walt DisneyCompany Board of Directors. If final approval is reached, the park isexpected to open in 2005.