AOL Time Warner Names Michael Lynton to Head Company-Wide International Efforts.

Business Editors

NEW YORK--(BUSINESS WIRE)--May 9, 2002

AOL Time Warner Inc. (NYSE: AOL) announced today the appointment of Michael Lynton as President, International and Executive Vice President of AOL Time Warner.

Mr. Lynton, 42, currently serves as President of AOL International, where he is responsible for expanding AOL's international brand presence and industry-leading position. In his new role, Mr. Lynton will work closely with the other members of AOL Time Warner's senior management team and operating divisions to further develop the Company's international growth strategy through cross-divisional collaboration and by integrating, when appropriate, its international initiatives, alliances, acquisitions and investments.

In addition to these new responsibilities, Mr. Lynton, who joined America Online in 1999, will continue to lead the AOL International organization and its operations in Asia, Latin America and Europe. He will report to Robert Pittman, COO-elect of AOL Time Warner.

AOL Time Warner CEO-elect Dick Parsons said: "Michael Lynton has done a terrific job overseeing the international expansion of our AOL brand. He is the perfect choice to lead our combined international efforts and enable our divisions to more easily coordinate with one another to maximize our results."

Mr. Pittman said: "As AOL Time Warner continues to focus on opportunities for global expansion, Michael's talent, creativity and global perspective on the media business will help drive growth across our brands and across borders and make the most of the Company's businesses around the world."

Mr. Lynton said: "This is a great opportunity for me to contribute to the Company's focus on this important area of growth. I'm looking forward to working with our senior management team to further develop and implement a coordinated strategy to drive the growth of the Company's international operations."

Under Mr. Lynton's leadership, AOL has experienced dramatic growth in its international operations. AOL and CompuServe services outside of the United States have expanded to more than 8.5 million members, with the AOL services adding 2.8 million members in 2001 alone. In addition, during Mr. Lynton's tenure, new AOL services have been launched in Mexico and Argentina, and AOL Latin America has also expanded the AOL service into Puerto Rico. In addition, Mr. Lynton furthered the development of AOL's joint ventures in Japan and Australia and led the formation of a new joint venture in China.

Mr. Lynton joined America Online from the international media company Pearson plc. As Chairman and Chief Executive Officer of Pearson's Penguin Group, he led the revitalization of the global publishing operations of Penguin, the world's second-largest English-language publisher; oversaw the successful acquisition and integration of Putnam, Inc.; and extended the Penguin brand to music and the Internet with the introduction of Penguin Music Classics and Penguinclassics.com. Under his leadership, the Penguin group set records in number of best sellers, revenues and profits.

Prior to his tenure at Pearson, Mr. Lynton served at the Walt Disney Company as President of Disney Publishing and President of Hollywood Pictures. Previously, he was an associate at CS First Boston in the mergers and acquisitions department.

Mr. Lynton received an M.B.A. degree from the Harvard Business School in 1987, after earning his undergraduate degree from Harvard College in 1982. Raised in the Netherlands, he speaks English, Dutch, French and German.

AOL Time Warner (NYSE: AOL) is the world's first Internet-powered media and communications company, whose industry-leading businesses include interactive services, cable systems, publishing, music, networks and filmed entertainment.