AMERICA ONLINE BEGINS TRADING ON THE NEW YORK STOCK EXCHANGE; MOVE CONFIRMS ROLE AS GLOBAL INTERACTIVE SERVICES LEADER.DULLES, Va.--(BUSINESS WIRE)--Sept. 16, 1996--America Online, Inc., the world's first billion dollar interactive services company, begins listing its common stock today on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. ". The move to the New York Stock Exchange signals AOL's role as a global, interactive media company with a wide array of programming, content, advertising, transactional and distribution assets. The company's listing on the NYSE NYSE See: New York Stock Exchange also establishes the AOL brand name more firmly with investors around the world. Additionally, the move gives the company's more than 6 million members access to information provided by the New York Stock Exchange, through an AOL link to the NYSE website. "As we move to the New York Stock Exchange, we are pleased to become a part of an impressive peer group of companies that are international leaders in their industries," said Stephen M. Case, chairman and chief executive officer of America Online See AOL. . "In addition, we see this move as emblematic of other broad and exciting changes taking place as we gear up to relaunch AOL this fall and solidify our position as the global leader in interactive services." "With its listing on the NYSE, America Online joins the global network of the world's best companies, including those on the cutting edge of technology and information services See Information Systems. ," said Richard A. Grasso, chairman of the New York Stock Exchange. "The Exchange has been active partners with our listed companies in mutually beneficial Adj. 1. mutually beneficial - mutually dependent interdependent, mutualist dependent - relying on or requiring a person or thing for support, supply, or what is needed; "dependent children"; "dependent on moisture" areas. We look forward to learning from AOL's expertise to further advance our online capabilities which will benefit investors and the entire NYSE community." This first "cyber-listing" will include the first trade of 100 shares being delivered over AOL via PCFN PCFN Projet Conservation de la Foret de Nyungwe (French: Nyungwe Forest Project; National Park in Rwanda) PCFN Port Call File Number , the online division of Pershing Financial, by Case, and then awarded to the winner of a contest co-sponsored by AOL and the NYSE. PCFN is offering commission-free purchases of AOL stock during the first week of trading. (The offer applies to a single purchase per individual up to a maximum of 5,000 shares.) America Online is the fastest growing provider of online services in the world, with more than six million subscribers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, Germany, France and the United Kingdom. AOL offers subscribers a wide variety of services and content including news and information, electronic mail, conferencing, electronic magazines, online classes, Internet services and private online areas for businesses and organizations. It is traded on the New York Stock Exchange under the symbol "AOL". The New York Stock Exchange provides qualifying companies with the broadest access to investors, the greatest market depth and liquidity, cost-effective access to capital, the highest visibility, the fairest pricing and investor benefits and protections that are available only in the NYSE's competitive auction market. The growing roster of NYSE-listed companies is comprised of large, mid-size and smaller companies in all business sectors. At the end of August, 1996, 2,780 companies were listed on the NYSE. These companies had 171.3 billion shares worth $6.5 trillion available for trading on the Exchange, giving the NYSE the world's largest market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. . Note: America Online and the New York Stock Exchange will sponsor a Block Party on Broad Street in front of the Exchange today from 11:00 am until 7:00 pm featuring live entertainment, demonstrations of America Online's service, and presentations by key AOL partners. The party will feature a fully outfitted 18-wheeler, designed to showcase America Online's new version 3.0 software. New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. is the culmination of AOL's On the Move Tour, which has visited 30 cities in 30 days. Press Note: Steve Case Steve Case (born August 21, 1958) is a businessman best known as the co-founder and former chief executive officer and chairman of America Online (AOL). He reached his highest profile when he played an instrumental role in AOL's merger with Time Warner in 2000. will be hosting a one-hour telephone press briefing this afternoon from 12:45 pm. To access the call, dial 1-800-857-5131, code word AOL. CONTACT: Fleishman-Hillard for America Online Inc. Jamie Moss, 212/265-9150 ext. 2200 Regina Barboza, 212/265-9150 ext. 2241 |
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