America Online and the Latin Recording Academy to Bring the Excitement of the Latin GRAMMY Awards Online.

Business Editors

NEW YORK and BEVERLY HILLS, Calif.--(BUSINESS WIRE)--July 22, 2002

Exclusive, Multi-Year Agreement Makes AOL Music Official Online Host

of Latin GRAMMY Awards Celebration

America Online, Inc., the world's leading interactive services company, and the Latin Recording Academy(R) today announced that AOL Music will be the exclusive online partner for the Latin GRAMMY(R) Awards. Beginning with the 3rd Annual Latin GRAMMY Awards ceremony, AOL's more than 34 million members worldwide and the vast Internet audience will have the opportunity to experience the excitement of the world's premier Latin music awards ceremony through unique programming and promotions that will be available across AOL Music's leading music properties and www.grammy.com.

As part of this exclusive, multi-year agreement, Latin music fans will have a virtual "all access pass" to Latin GRAMMY related music, contests, polls and more. Exclusive programming and promotions are set to kick off following the announcement of the nominees on July 24 on the AOL Service at AOL Keyword: Latin Grammy, with Spanish language coverage provided by AOL Latino at AOL Keyword: Grammys Latinos, and on the Web at Netscape Music (music.netscape.com) and www.grammy.com. This unique content will be available through the 3rd Annual Latin GRAMMY Awards event happening on September 18 in Los Angeles.

This agreement builds on an existing relationship between America Online, Inc. and the Recording Academy(R) that kicked off with the 44th Annual GRAMMY(R) Awards ceremony in February of this year.

"Following the incredible success of our collaboration with the Recording Academy in February, and as part of our continued efforts to offer the premier online experience to music fans around the world, we are thrilled to bring the excitement of the 3rd Annual Latin GRAMMY Awards to our AOL members and consumers on the Web," said Kevin Conroy, SVP and General Manager, AOL Music. "This important relationship builds on AOL's popularity as the leading online provider among U.S. Hispanics. - the fastest growing population in the U.S. - as well as our popular Latin music offerings."

"This collaboration will result in the creation of the ultimate online destination for any Latin music fan," said Enrique Fernandez, SVP/Executive Director of the Latin Recording Academy. "Having an online presence is a key component to the success of the show. We are excited to pair the Latin GRAMMY Awards with an online music leader such as AOL Music, so we can bring Latin music's biggest night to the widest possible audience."

The addition of the Latin GRAMMY Awards builds on America Online's other Latino offerings, which have helped make AOL the #1 ISP choice for Hispanics in the U.S. AOL offers a variety of Spanish-language services and content offerings, including AOL Keyword: Latino and the availability of customer support in Spanish. AOL Keyword Latino, developed in conjunction with AOL Latin America, provides best-of-the Web content from leading Hispanic partners, including CNN en Espanol, and EFE, among others. According to a recent Nielsen/NetRatings report, Hispanics are the fastest growing online community in the U.S., registering a 13% growth last year compared to a 3% growth by the overall population. AOL Keyword: Latino also allows members to access Spanish-language versions of popular AOL products like Search, Love@AOL personals and Web publishing tools, as well as bilingual community features such as chats, message boards and online polls.

The 3rd Annual Latin GRAMMY Awards will be held at Kodak Theatre in Hollywood, Calif. on September 18. The show will be broadcast by the CBS Television Network from 9 - 11 p.m. ET/PT, carried on radio via the Hispanic Broadcasting Corporation worldwide and featured on the Internet by America Online, Inc. The Latin GRAMMYs will present awards in 41 key categories covering many genres and sub-genres of Latin music.

About the Latin Recording Academy

The Latin Recording Academy is a membership-based organization comprised of recording artists, musicians, producers and other creative and technical recording professionals who are dedicated to improving the quality of life and cultural conditions for Latin music and its makers. In addition to producing the Latin GRAMMY Awards to honor excellence in the recording arts and sciences, the Latin Recording Academy provides educational and human services programs to the Latin music community.

The Latin Recording Academy has built its template of member services and advocacy around the similar programs instituted by the National Academy of Recording Arts & Sciences, Inc. (the Recording Academy), a non-profit organization comprised of more than 20,000 musicians, producers and other recording professionals. Best known for the GRAMMY Awards, the Recording Academy is also responsible for numerous groundbreaking outreach programs involving education, human services and cultural enrichment. For more information, please visit www.grammy.com or AOL Keyword: Latin Grammy.

About AOL Music

AOL Music, a division of America Online, Inc., reaches the largest audience of online music fans in the world through a rich array of programming products and services that make it easy to discover, experience, listen to and buy music online. AOL Music's leading offerings include the number one Internet music destination, AOL's Music Channel; premier online radio products, Radio@AOL and Radio@Netscape powered by Spinner; the most popular audio jukebox player, Winamp, and Webcaster directory, SHOUTcast. AOL Music programming, products and services are available throughout the AOL Service, AOL High Speed Broadband Service, and AOL's family of Web brands, including Netscape, CompuServe, AIM and ICQ.

About America Online

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