AOL Music and Warner Music Group Announce Greg Calloway as the Winner of ''The Biz'' Online Reality Show.

NEW YORK -- America Online, Inc.:

Special Season Finale Debuts Today at thebiz.com


  Virginia Native Named President Of Newly Formed Warner Music Group
                             Record Label

E[acute accent]AOL Music and Warner Music Group have announced Greg Calloway as the winner of the online reality show, "The Biz." The final episode, which debuts today, Friday, December 9 at http://www.thebiz.com, was taped live at a star-studded event attended by T.I., Petra Nemcova, Fran Dresher, and singer/songwriter James Blunt among others, at New York City's newest hotspot, Aspen. As the winner of "The Biz," the 23 year old Calloway will become President of a new record label at the Warner Music Group. E[acute accent]The self-described "Jerry Maguire of the music industry," Mr. Calloway is a bold and defiant salesman whose unique approach to the music industry and the tasks presented to him led Lyor Cohen, Chairman and CEO of U.S. Recorded Music for Warner Music Group, to give him the job of President. E[acute accent]"The Biz" featured nine contestants vying for the top job and facing real-life music business challenges under the watchful eye of Mr. Cohen, to find out what it takes to be the next music mogul. Along the way they worked with artists such as Fallout Boy, Panic at the Disco, Jason Mraz, Paul Wall and T.I. and were advised by industry heavyweights such as Ahmet Ertegun, Jac Holzman, Kevin Liles, and Todd Moscowitz as they climbed the corporate ladder from intern to Manager, Director, Vice President and ultimately President. E[acute accent]Fans can still tune into "The Biz" and watch Calloway's journey from intern to President on-demand exclusively online at http://www.thebiz.com. E[acute accent]"The Biz" is a co-production of AOL(R) Music and Warner Music Group with executive producers Lyor Cohen, Chairman and CEO of U.S. Recorded Music for Warner Music Group, and Kevin Conroy, Executive Vice President of the AOL Media Network, in conjunction with critically acclaimed Stick Figure Productions. Contestants from around the country test their music industry savvy, vying for a position as president of a newly created WMG record label. The interactive online competition taped in New York City is available on demand at http://www.thebiz.com and http://www.aol.com and is promoted to AOL's audience of more than 100 million monthly visitors*. E[acute accent]AOL Music (http://www.aolmusic.com) is the leading online destination for music, reaching millions of music fans a month* through a rich array of programming, products and services that make it easy to discover, experience, listen to and buy music online.

E[acute accent]About Stick Figure Productions

E[acute accent]Stick Figure Productions is a New York based film and television production company who have made projects with HBO, UPN, PBS, Cinemax, IFC, VH1, AMC, Bravo, and Showtime. Their projects have played at numerous film festivals, and been nominated for Emmy and Academy Awards. They recently created and executive produced "Family Bonds," a critically-acclaimed real-life series for HBO's Sunday night lineup. They also executive produced "Amish In the City," a reality series for UPN which drew some of the network's highest ratings ever.

E[acute accent]About Warner Music Group

E[acute accent]Warner Music Group (WMG) became the only stand-alone music company to be publicly traded in the United States in May 2005. With its broad roster of new stars and legendary artists, Warner Music Group is home to a collection of the best-known record labels in the music industry including Asylum, Atlantic, Bad Boy, East West, Elektra, Lava, Maverick, Nonesuch, Reprise, Rhino, Sire, Warner Bros. and Word. Warner Music International, a leading company in national and international repertoire, operates through numerous international affiliates and licensees in more than 50 countries. Warner Music Group also includes Warner/Chappell Music, one of the world's leading music publishers, with a catalog of more than one million copyrights worldwide.

E[acute accent]America Online, Inc.

E[acute accent]America Online, Inc. and its subsidiaries operate a leading network of Web brands and the largest Internet access subscription service in the United States. Brands include the AOL(R) service, the AOL.com(R) website, and the AIM(R), MapQuest(R), Moviefone(R), Netscape(R), CompuServe(R) and ICQ(R) services. America Online offers a range of digital services including the TotalTalk(R) voice service. The company also has operations in Canada and Europe. America Online, Inc. is based in Dulles, Virginia, and is a wholly owned subsidiary of Time Warner Inc.

E[acute accent]* ComScore Media Metrix, November 2005

E[acute accent]NOTE TO EDITORS: Additional photos available at wireimage.com.