Rule 424(b)(3)
Registration No. 33-62777
PRICING SUPPLEMENT NO. 18 dated January 26, 1998
THE WALT DISNEY COMPANY
Medium-Term Notes
This Pricing Supplement accompanies and supplements the Prospectus
dated March 7, 1996, as supplemented by the Prospectus Supplement,
dated March 7, 1996 (the "Prospectus Supplement").
The Notes have the following terms (as applicable):
Rate: /X/ Fixed Rate / / Floating Rate / / Zero Coupon
/ / Discount
Form: /X/ Book-Entry / / Definitive
Principal Amount: $150,000,000
Original Issue Price: 100%
CUSIP No: 25468PAT3
Proceeds to the Company: $150,000,000
Discount or Commission to Agents: N/A
Original Issue Discount: N/A
Original Issue Date: January 29, 1998
Stated Maturity: February 26, 1999
Yield to Maturity: N/A
Interest Rate Per Annum (for Fixed Rate Notes): 5.50% (Daycount: Actual/360)
Interest Payment Dates:
/ / Third Wednesday of each month
/ / Third Wednesday of each March, June,
September and December
/ / Third Wednesday of each ________________
and _________________
/ / Third Wednesday of each ________________
/X/ Other (specify) There will be one Interest Payment Date,
which will be at maturity of the Notes on
February 26, 1999.
Regular Record Dates:
/ / Fifteenth day (whether or not a Business Day)
immediately preceding the related Interest
Payment Date
/X/ Other (specify) N/A
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Interest Payment Period:
/ / Monthly
/ / Quarterly
/ / Semiannually
/ / Annually
/X/ Other: Upon Maturity
Calculation Agent: Salomon Smith Barney
Plan of Distribution: Salomon Brothers Inc has acted as principal
with respect to the purchase of the Notes.
