America Online and Preview Travel Expand Partnership with Five-Year, $32 Million Agreement.

DULLES, Va./San Francisco--(BUSINESS WIRE)--Oct. 8, 1997--

Preview will also Develop and Manage Travel-Related Content on

Redesigned AOL Travel Channel

AOL Networks, the Internet online service division of America Online Inc. (NYSE: AOL), and Preview Travel Wednesday announced a major expansion of their partnership, making Preview Travel the primary provider of travel services on AOL and AOL's Web site, AOL.com.

Under the agreement, Preview Travel will pay AOL a minimum of $32 million over the next five years, and the two parties will share advertising and transaction revenues upon the achievement of thresholds specified in the agreement.

The arrangement will make Preview Travel AOL's primary provider of travel services, prominently placed and promoted across AOL's redesigned Travel Channel, due to launch in mid-October. The reservations service will receive exclusive promotions on AOL's U.S. service and on the AOL.com Website, the most visited site on the World Wide Web.

Preview Travel to Develop Travel Destinations and Information

Database

In a related agreement, Preview Travel will develop an extensive database of travel information for AOL, as part of the companies' efforts to better serve customers with integrated content and transactions services. The new destinations database, which will be phased in over the next year, will play an integral role in the revamped AOL Travel Channel.

Visitors to the channel will be able to research and plan trips to scores of countries around the world; book air tickets, hotels, and rental cars; and swap tips with fellow travelers.

Users will also be able to customize information to reflect their own interests and needs, including information about sights and cultural attractions, hotels and restaurants, and then directly make travel arrangements with Preview Travel based on what they have learned.

Robert W. Pittman, president and chief executive officer of AOL Networks, said, "With our expanded agreement with Preview Travel, and the redesign of the AOL Travel Channel, we will bring a new level of value, convenience and ease of use to our members.

"Preview Travel's development of an interactive destinations database, combined with their best-fare shopping capabilities, will provide real value to our members, along with the most comprehensive source of travel information."

AOL and Preview Travel have had a relationship since 1994, when Preview was an Information Provider to AOL and then an AOL Studios investment; Ted Leonsis, president and CEO of AOL Studios, is on the Preview Travel board.

America Online Inc., based in Dulles, is the world's leading Internet online service, with over nine million members worldwide.

AOL, founded in 1985, offers its subscribers a wide variety of interactive services including electronic mail, Instant Message features, entertainment, reference, financial information, computing support, interactive magazines and newspapers, as well as easy access to all the services of the Internet.

CONTACT: America Online

Wendy Goldberg, 703/265-2359