Rule 424(b)(3)
Registration No. 33-62777
PRICING SUPPLEMENT NO. 20 dated April 30, 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: $175,000,000
Original Issue Price: 100%
CUSIP No: 25468PAV8
Proceeds to the Company: $175,000,000
Discount or Commission to Agents: N/A
Original Issue Discount: N/A
Original Issue Date: May 5, 1998
Stated Maturity: May 5, 2000
Yield to Maturity: N/A
Earliest Redemption Date: N/A
Redemption Price: N/A
Interest Rate Per Annum (for Fixed Rate Notes): 5.830%
Interest Rate Provisions (for Floating Rate Notes): N/A
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) The first Interest Payment Date shall be
November 5, 1998 and thereafter the
Interest Payment Dates shall be May 5th
and November 5th of each year.
Regular Record Dates:
/X/ Fifteenth day (whether or not a Business Day)
immediately preceding the related Interest
Payment Date
/ / Other (specify)_________
Interest Payment Period:
/ / Monthly
/ / Quarterly
/X/ Semiannually
/ / Annually
Calculation Agent: Citibank, N.A.
Plan of Distribution: Chase Securities Inc. has acted as principal
with respect to the purchase of the Notes.
