AOL Time Warner Announces Series of Special Events During Film Life's American Black Film Festival in Miami, Florida from June 18 to 22.

Entertainment Editors/Business Editors

NEW YORK--(BUSINESS WIRE)--June 16, 2003

AOL Time Warner (NYSE: AOL)

       Executives to Talk with Participants about Greenlighting
               Projects Across AOL Time Warner Divisions

     The Matrix Reloaded Star Laurence Fishburne to be First Guest
         of AOL Time Warner's "A Conversation With ..." Series

  AOL Time Warner Innovator Award to be Presented to Russell Simmons

 AOL Time Warner Rising Star Award to be Presented to Gabrielle Union

AOL Time Warner, presenting sponsor of Film Life's 7th Annual American Black Film Festival (ABFF), today announced that the Company will conduct a number of special events during this year's festival to honor stand-out talent in today's African-American entertainment community, identify new talent and work with up-and-coming filmmakers to successfully develop and submit creative projects to the company for production.

Scheduled from June 18 to 22 in Miami's South Beach, Florida, the ABFF is an annual film festival that is dedicated to supporting the cinematic work of Black filmmakers. The five-day retreat and international film market provides independent Black filmmakers with a forum to show their films to film buyers and the general public. The festival also helps to unveil the next generation of directors, writers, producers, and actors through its competitive showcases.

"We at AOL Time Warner are committed to finding and developing the widest possible diversity of talent. The ABFF is a particularly important opportunity for us to help bring to light the creative genius of Black filmmakers and to infuse the entire film industry with new ideas, perspectives and energy," said Gerri Warren-Merrick, AOL Time Warner Vice President of Corporate Community Relations.

During the June 19 panel "INNOVATION: Developing The Idea With AOL Time Warner," executives from AOL, Atlantic Records, New Line Cinema, Time Inc., Turner Broadcasting System, HBO and Warner Bros. Pictures will talk to festival participants about the art of developing creative ideas and how to most effectively submit those ideas for possible production across the divisions of AOL Time Warner.

In another fresh addition to the festival, AOL Time Warner will sponsor "A Conversation with...." featuring Laurence Fishburne, the celebrated Tony and Emmy award winning actor, director, playwright and producer, who is currently starring in The Matrix Reloaded. During this June 19 event, New York Times film critic Elvis Mitchell will conduct a one-on-one interview with Mr. Fishburne about his life and career before an audience of festival participants.

AOL Time Warner's HBO division will also return to the ABFF this year for the sixth time with its HBO Short Film Competition. The HBO Short Film Award, first given out at the 1998 ABFF, was created to celebrate the writing and directing talents of up-and-coming black filmmakers. A panel of distinguished African American directors and HBO executives will judge the final round of competition in South Beach. One filmmaker will be awarded the $20,000 grand prize during the festival's Film Life Black Movie Awards ceremony on closing night, with the four runners up receiving $5,000 each.

In addition to these events, AOL Time Warner will also be presenting two signature entertainment awards during a special ceremony on June 22, the final evening of the festival: the AOL Time Warner Innovator Award, to entertainment icon Russell Simmons; and the AOL Time Warner Rising Star Award, to emerging star Gabrielle Union.

As chairman and CEO of Rush Communications, Russell Simmons has successfully built upon his vision of hip-hop as a deep cross-cultural common center. Mr. Simmons keeps his watchful eye on music, through Def Jam Records; film, through the Simmons Lathan Media Group; television, through shows such as HBO's "Def Comedy Jam" and the Peabody Award-winning "Russell Simmons Presents Def Poetry"; and even Broadway, with his Tony-award winning production "Russell Simmons Presents Def Poetry Jam on Broadway." His ventures to promote hip hop also extend beyond the entertainment world to the fashion industry, with the Phat Farm and Baby Phat labels; through finance, with Uni Rush Financial Services; advertising, through the dRush agency; technology, with Rush Mobile; magazine publishing, with "One World" Magazine; and, most importantly, through the community with Rush Philanthropic Arts Foundation, and the Hip-Hop Summit Action Network.

This year's Rising Star winner, Gabrielle Union, is already making her mark on Hollywood. She will next be seen in Columbia Pictures' summer release BadBoys II and she recently co-starred with Jet Li and hip-hop artist DMX in Cradle to the Grave. She has appeared on the hit show "Friends," as well as on the successful series "Moesha," "ER," "Dave's World," "The Steve Harvey Show," "Sister Sister" and "7th Heaven." Recently, Ms. Union was selected as Entertainment Weekly's "IT Girl," as one of E!'s "Sizzling 16" and as a member of Vogue Magazine's "Next Generation of Movie Stars."

For more information about these events and the ABFF, please go to AOL Keyword: ABFF or www.abff.com.

About AOL Time Warner

AOL Time Warner is the world's leading media and entertainment company, whose businesses include interactive services, cable systems, filmed entertainment, television networks, music and publishing.

About Film Life

Film Life Inc. is a film marketing and distribution company based in New York and established by Jeff Friday. Its mission is to spearhead the commercial development of independent Black films.