America Online Names Lance Miyamoto to Lead Human Resources; Appoints Lewis M. Taffer as EVP of Acquisition Marketing.

Business Editors/High-Tech Writers

DULLES, Va.--(BUSINESS WIRE)--Jan. 26, 2004

America Online, Inc., the world's leading interactive services company, today appointed Lance Miyamoto Executive Vice President, Human Resources.

Mr. Miyamoto joins AOL from LexisNexis Group, where he was Senior Vice President, Human Resources, heading HR for the $2.2 billion, 13,750 employee legal publishing division of Reed Elsevier, a world-leading publisher and information provider.

In his new position at AOL, Mr. Miyamoto will oversee all aspects of Human Resources, including talent acquisition and retention, compensation strategy, organizational development, and leadership development. He will report to AOL Vice Chairman Joseph Ripp.

In making the appointment, Mr. Ripp said, "Lance Miyamoto is an exceptional Human Resources executive. He brings to his new position more than 25 years of HR experience across a broad range of industries and countries, proven management abilities, and an innovative and strategic approach to addressing challenging HR issues. At every stage of his career, Lance has excelled. His intelligence, energy, creativity, and business acumen will be great assets to AOL, and I look forward to working with him."

Mr. Miyamoto said, "AOL is at the center of one of the most interesting and dynamic industries in the world. I'm very excited about the opportunity to work with the talented team at AOL to build on the progress made in the past year in turning around the company. I am equally enthusiastic about working with the exceptional team of professionals in the human resources function."

During his 25 years in HR, Mr. Miyamoto has led successful efforts in core HR functions such as compensation; benefits; acquiring, assessing, developing and retaining talent; organizational development; learning and diversity. He has worked in a number of industries, including legal and financial information; computing systems; manufacturing; telecommunications; consumer products and petrochemicals. Additionally, he has global business experience, having worked in the US, Europe, Asia Pacific, and Latin America.

Mr. Miyamoto's major accomplishments while at LexisNexis were to facilitate the restructuring of the organization into a global enterprise; hire and promote top talent; integrate new acquisitions, and upgrade the human resources function.

Prior to joining LexisNexis in 2001, Mr. Miyamoto was Vice President, Corporate Human Resources at Honeywell International, where among other responsibilities he successfully led the corporate-wide staffing function and was charged with hiring executives to form the leadership team of the recently merged Allied Signal and Honeywell companies. Previously, Mr. Miyamoto worked for 10 years for Dun & Bradstreet Corporation in a number of HR positions in the U.S. and the U.K., rising to Senior Vice President, Human Resources and Performance Development, a position he held from 1997-1999.

Earlier in his career, Mr. Miyamoto worked at AT&T Bell Laboratories as an Organization Effectiveness Consultant and in HR positions at Avon Products Inc., Wang Laboratories Inc., and Exxon Research and Engineering.

Mr. Miyamoto has an MBA from the Wharton School of the University of Pennsylvania. He earned his undergraduate degree from Harvard University, where he was a recipient of the Ames Memorial Award for leadership.

Lewis M. Taffer Named to Acquisition Marketing Post

The company also announced that it has named Lewis M. Taffer as Executive Vice President, Acquisition Marketing, reporting to Chief Marketing Officer Joe Redling. Mr. Taffer will be responsible for the strategic direction, development and implementation of all customer acquisition efforts through the company's multiple acquisition channels.

A marketing veteran, Mr. Taffer has more than 20 years experience at American Express, where he headed the American Express Gold Card, launched the Membership Miles program, and managed American Express's business with the largest merchants in the U.S. He also launched ShopAmex, an innovative online shopping portal for American Express Cardmembers. After leaving American Express in 2000, Mr. Taffer provided management consulting services to several major companies.

Mr. Redling said, "Lew Taffer is a marketing pro. His extensive background in branding, segmentation and direct marketing make him the ideal person for this position. I look forward to working with Lew as we continue to expand and evolve our marketing efforts."

Mr. Taffer said, "AOL has an impressive and growing menu of products and services to offer consumers. My job, which is to acquire new subscribers in the most profitable manner possible, will be made easier by the significant innovation that is taking place at AOL. AOL's marketing group has always been very strong and I'm pleased to be a part of it."

Mr. Taffer began his career as a legal aid attorney, working for Neighborhood Legal Services in Pittsburgh as a staff attorney. He later served as Assistant Counsel to the U.S. Senate Banking Committee, where he authored two landmark federal statutes: the Electronic Funds Transfer Act and the Fair Debt Collection Practices Act.

Mr. Taffer earned a Bachelor of Arts degree in political science from the University of Pittsburgh and a law degree from the University of Michigan Law School.

About America Online, Inc.

America Online, Inc. is a wholly owned subsidiary of Time Warner Inc. (NYSE:TWX). Based in Dulles, Virginia, America Online is the world's leader in interactive services, Web brands, Internet technologies and e-commerce services.