Business Review Meeting Brazil March 2005

Agenda Executive summary (Page 3) FY05 P&L (Page 8) FY05 Cause of Change (Page 10) Key Titles released (Page 14) Upcoming titles (Page 19) Competitive release schedule (Page 22) Accounts receivable (Page 27)

Executive Summary

Q1 Executive Summary Financials Highlights THE INCREDIBLES Q1 revenue is $ 4,768 , $1,967 (70%) above budget. Net Contribution for Q1 is $ 1,983 instead of a negative budget of $ (96). Highlights THE INCREDIBLES 2 nd animation in history to surpass 8 million in G.B.O (8,290 versus 8,200 for Finding Nemo). Revenues of $3.9M surpassing budget estimate by $1.6M (70 %). Net Contribution of $ $2.2M exceeding budget by $1.2M (125%). SHALL WE DANCE - REMAKE More than 1 million in admissions. 5 weeks with all prints still playing in theaters. Revenues of $1M surpassing budget estimate by $0.7M (205 %). Net Contribution of $ $0.4M exceeding budget by $0.4M.

THE INCREDIBLES Surpassed Finding Nemo and now is the best BVI animation in Brazil (8,290 versus 8,200 in G.B.O.) More than 4 million in admissions. 155 prints still playing on its 10th week (43.5% of the original release) Best animation ever during summer vacation in Brazil First film with the new Ad Pub strategy. Advertising only on cable TV instead of free TV.

FY05 Q1 Actuals performance (000’s US dollars@fy05 budget rate)

Full Year Executive Summary Financials Full year revenue is forecasted at $14.9 M , $ 3.7 M (32%) above budget. The net contribution is $3.7M, $2.4M (175%) above budget. Highlights We have remitted US$ 2 millions in Q2. Romeo and Juliet Got Married (Local Product) – Good expectations on Brazilian productions (Revenue $1,568 / 1,5 million in admissions). Sin City – A Miramax release just confirmed. To be released in Q3. IMD will be included in the short term Due to release date change of Chicken Little, revenue has decreased by $1.3M and net contribution by $0.3M.

FY05 P&L

FY05 Forecast performance (000’s US dollars@fy05 budget rate)

FY05 Cause of Change

FY05 Net Contribution Variances Budget vs Forecast (000’s US dollars@fy05 budget rate)

Full Year Forecast by Title (000’s US dollars@fy05 budget rate)

FY05 Sensitivity Analysis - Key Titles Forecast vs Local estimate (000’s US dollars@fy05 budget rate)

Key Titles Released

The Incredibles

National treasure

Princess Diaries 2

Shall We dance - Remake

Upcoming titles

Romeo and Juliet Got Married (LP)

Pooh´s Heffalump Movie

Competitive Release Schedule

Competitive Schedule

Competitive Schedule (cont’d)

Competitive Schedule (cont’d)

Competitive Schedule (cont’d)

Accounts Receivable

Thank You