AOL Latin America Announces Expansion of AOL Service in Puerto Rico; Consumers Across the Island Can Now Access AOL for the Cost of a Local Telephone Call.

Business Editors/Hi-Tech Writers

SAN JUAN, Puerto Rico--(BUSINESS WIRE)--June 7, 2001

Build Out of AOL Network Represents an Important Next Step in Making

the AOL Experience an Integral Part of Puerto Rican Consumers'

Everyday Lives

America Online Latin America, Inc. (NASDAQ:AOLA) today announced an expansion of the AOL service in Puerto Rico, bringing local dial-up access to consumers across the Island.

Consumers in Puerto Rico can now access AOL for the cost of a local telephone call, without having to pay additional access surcharges. This expansion of the AOL network, which now covers more than 90% of Island residents and all major metropolitan areas, represents an important step in making the AOL interactive experience an integral part of Puerto Rican consumers' everyday lives.

Charles Herington, President and CEO of AOL Latin America, said: "AOL Latin America is pleased to announce this network expansion, allowing consumers across Puerto Rico to enjoy the AOL interactive experience through the expanded local dial-up network. This expansion highlights AOL Latin America's strong commitment to the Puerto Rican marketplace and to continuing to build on our strong momentum, as underscored by our recent achievement of the 750,000 member milestone."

Ramon Magual, General Manager of the AOL service in Puerto Rico, said: "The AOL service in Puerto Rico offers consumers across the Island a mix of local, regional and US content, as well as AOL's latest 6.0 software, round-the-clock bilingual member services and access to AOL's global community of 29 million members. Our network expansion demonstrates AOL Latin America's commitment to bringing Puerto Rican consumers the best possible interactive experience, with a uniquely tailored product built upon AOL's hallmark ease of use and convenience."

The AOL service in Puerto Rico offers consumers a choice of content and features specifically designed for the Puerto Rican marketplace, such as Spanish and English language content and local news. It is built upon the AOL US service, and offers all of the features, content and functionality of the AOL US service, including simple navigation and personalization, e-mail, instant message and Buddy List(R) features, exclusive Parental Controls, the My Calendar(sm) Service, message boards and built-in chat. In addition, members have access to free round-the-clock bilingual member services.

Puerto Rican members will see a customized channel bar when they log on, highlighting local content available on five customized channels: Noticias, Deportes, Entretenimiento, Guia Local and Internacional.

About AOL Latin America

America Online Latin America, Inc. (NASDAQ:AOLA) is the exclusive provider of AOL-branded services in Latin America and has quickly become one of the leading Internet and interactive services providers in the region. AOL Latin America launched its first service, America Online Brazil, in November 1999, and began as a joint venture of America Online, Inc., a wholly owned subsidiary of AOL Time Warner Inc. (NYSE:AOL), and the Cisneros Group of Companies. The Company combines the technology, brand name, infrastructure and relationships of AOL, the world's leader in branded interactive services, with the relationships, regional experience and extensive media assets of the Cisneros Group of Companies, one of the leading media groups in the Americas. The Company currently operates services in Brazil, Mexico and Argentina, a regional portal accessible at www.aola.com, and serves members of the AOL service in Puerto Rico. Banco Itau, a leading Brazilian bank, is also a minority stockholder of AOL Latin America.