Disney and Hong Kong reach agreement for new theme park

The Walt Disney Company and the Hong Kong SAR Government have reached an
agreement for a proposed Hong Kong Disneyland, a theme park development to
be built as the anchor of a tourism center on Lantau Island. Overlooking
the water at Penny's Bay, and on a main transit route from the new Hong
Kong International Airport, the project will make Lantau Island a
world-class tourist destination and take advantage of the location's easy
access by rail, highway and ferry to attract guests to the Park. Currently
in the conceptual design phase, Hong Kong Disneyland will bring together
the best of rides, shows and attractions, and cutting-edge technology from
Disney parks around the world to create a mix of new and traditional Disney
entertainment experiences. The park will include areas already familiar to
visitors 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 the
beginning of a larger tourism center envisioned by the Hong Kong government
for North Lantau Island. The agreement is still subject to approval by the
Hong Kong Executive Council and Legislative Council and by The Walt Disney
Company Board of Directors. If final approval is reached, the park is
expected to open in 2005.