AOL Latin America Announces Marketing Agreement With Office Depot in Mexico.

Business Editors/Hi-Tech Writers

MEXICO CITY, Mexico--(BUSINESS WIRE)--May 9, 2002

America Online Mexico Service to be Promoted at In-Store Kiosks in

Office Depot Locations Throughout Mexico

America Online Latin America, Inc. (NASDAQ:AOLA) today announced a marketing agreement between its subsidiary AOL Mexico SA. de R.L. de C.V. and Office Depot de Mexico, SA de CV, a subsidiary of Office Depot Inc. (NYSE:ODP), the world's largest seller of office products.

The America Online Mexico service will be prominently promoted in Office Depot's 60 locations throughout Mexico. Office Depot shoppers will be able to experience the ease-of-use and convenience of America Online Mexico first-hand at in-store demonstration kiosks. These kiosks will enable shoppers to sample the AOL service and enjoy interactive demonstrations by trained promoters, as well as sign up for the service directly and obtain installation CDs. As part of the agreement, America Online Mexico and Office Depot will work together on cross-promotional activities to highlight both brands' unique value.

Eduardo Hauser, Vice President of AOL Services of AOL Latin America, said: "AOL Latin America is happy to add Office Depot to the roster of leading brand marketers that work with us to introduce our AOL-branded services to consumers across the Latin American marketplace. We look forward to joining forces with Office Depot in this promotional effort."

Eduardo Escalante, President of AOL Mexico, said: "We are pleased to be working with Office Depot, a well known global brand and trusted retailer in the Mexican market. Through this agreement, we hope to reach out directly to a wide base of Mexican consumers and introduce them to the ease and convenience of the AOL interactive experience, which more than 1 million Latin American consumers have already made a part of their everyday lives."

America Online, Inc. and Office Depot have also enjoyed a long-standing relationship in the U.S. which has included joint initiatives in Office Depot retail outlets. In addition, Office Depot is a Shop@AOL partner on the U.S. AOL service. AOL Latin America also has forged relationships with other leading consumer retailers in its core markets of Brazil, Mexico, Argentina and Puerto Rico. These other retailers include: Wal-Mart, Sam's Club, Carrefour, Bompreco and Pontofrio.

About Office Depot

No one sells more office products to more customers in more countries through more channels than Office Depot. As the largest seller of office products around the world, the Company operates under the Office Depot(R), Office Place(R), Viking Office Products(R), Viking Direct(R) and 4Sure.com(R) brand names. As of March 30, 2002, Office Depot operated 857 office supply superstores in the United States and Canada, in addition to a national business-to-business delivery network supported by 24 delivery centers, more than 60 local sales offices and 13 regional call centers. Furthermore, the Company sells products and services in 17 countries outside of the United States and Canada, including 30 office supply stores in France and 11 in Japan that are owned and operated by the Company; and 105 additional office supply stores under joint venture and licensing agreements operating under the Office Depot name in five foreign countries. The Company operates an award-winning U.S. Office Depot brand Web site at http://www.officedepot.com where customers can access Office Depot's low competitive prices seven days a week, twenty-four hours a day. The Company also operates fifteen additional Web sites, under the Office Depot and Viking Office Products names, in the U.S. and nine international countries including: Austria, Australia, France, Japan, Germany, Ireland, Italy, the Netherlands and the United Kingdom. Office Depot's common stock is traded on the New York Stock Exchange under the symbol ODP and is included in the S&P 500 Index.

About AOL Mexico

AOL Mexico S de RL de CV is a subsidiary of America Online Latin America, Inc. (NASDAQ: AOLA) founded in December 1998 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. America Online is the worldwide leader in interactive services and branded content with more than 33 million members. Cisneros Group is one of the leading media groups in the Americas. Headquartered in Mexico City, AOL Mexico operates AOL's service within the country. In addition, to AOL Mexico's direct mail and other commerce channels, consumers can get the software and register to become an AOL Mexico member in a wide variety of establishments. Alternatively call: 01-800-522-3000, or download it at www.aol.com.mx.

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. Banco Itau, a leading Brazilian bank, is also a minority stockholder of AOL Latin America. 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 and serves (from the U.S.) members of the AOL-branded service in Puerto Rico. It also operates a regional portal accessible at www.aola.com. AOL's 34 million members worldwide can access content and offerings from AOL Latin America through the International Channels on their local AOL services.