AOL and Time Warner Veteran Ron Grant Appointed President and COO of AOL LLC.

NEW YORK -- Ron Grant, an AOL veteran who most recently served as Time Warner's Senior Vice President, Operations, has been appointed President and COO of AOL LLC, it was announced today by AOL's Chairman and CEO Randy Falco.

In his last Time Warner position, Mr. Grant worked closely with President and COO Jeff Bewkes in such areas as strategy, digital initiatives and operational efficiencies, and he played an important role in putting together AOL's advertising-focused strategy.

In making the announcement, Mr. Falco said: "I'm very pleased that Ron Grant has agreed to become the point person on my AOL management team. With his deep knowledge of the AOL business and Internet industry as well as his many relationships across Time Warner, Ron will be critical to our efforts to execute against AOL's new strategy. I look forward to working with Ron and our talented AOL colleagues to tackle the tough issues ahead and make the most of our many opportunities."

Mr. Bewkes said: "With their complementary and shared skills as well as proven track records, Randy Falco and Ron Grant will make a great team to take AOL to the next level of operational execution. Ron is one of Time Warner's leaders in working through our most crucial digital opportunities and challenges, and he played a key role in developing AOL's new strategic direction. As we continue to position our businesses to capitalize fully on their promising digital futures, we'll look to Randy and Ron to build on AOL's new momentum."

Mr. Grant said: "Let me first express my sincere thanks to Randy Falco for this tremendous opportunity. Our impressive team at AOL includes some of the best minds in the Internet industry, and I consider it an honor to work with them again. From my years at both AOL and Time Warner, I know first-hand about the powerful potential of the AOL business. I have every confidence that, under Randy's leadership, AOL will return to robust, profitable growth."

Mr. Grant's Background

Prior to rejoining AOL, Mr. Grant was Senior Vice President, Operations, at Time Warner Inc., working with Mr. Bewkes to set key goals, track the progress of the company's businesses, drive a number of cross-divisional initiatives and improve the company's operational processes.

Before moving to Time Warner, Mr. Grant was Senior Vice President of Business Affairs and Development for America Online. He managed a team responsible for business development. Prior to AOL, Mr. Grant was a Partner in the Communications and Entertainment Practice of Mercer Management Consulting. He specialized in creating and managing growth strategies for clients in the Internet, telecommunications, and media industries.

Mr. Grant has a BA degree in Economics from Dartmouth College and an MBA degree in Finance and International Business from Columbia Business School.

About AOL

AOL is a global Web services company that operates some of the most popular Web destinations, offers a comprehensive suite of free software and services, runs the country's largest Internet access business, and provides a full set of advertising solutions. A majority-owned subsidiary of Time Warner Inc. (NYSE: TWX), AOL LLC is based in Dulles, Virginia. AOL and its subsidiaries also have operations in Europe, Canada and Asia. Learn more at AOL.com.

About Time Warner Inc.

Time Warner Inc. is a leading media and entertainment company, whose businesses include interactive services, cable systems, filmed entertainment, television networks and publishing.