BancBoston Robertson Stephens Reiterates Strong Buy Rating on AOL.

SAN FRANCISCO--(BUSINESS WIRE)--Sept. 28, 1999--

BancBoston Robertson Stephens Internet analyst Michael Graham and managing director and senior Internet analyst Keith E. Benjamin today reiterated their Strong Buy rating on American Online (NYSE:AOL).

AOL, based in Dulles, Va., is a provider of interactive services, Web brands, Internet technologies and eCommerce services.

"We have been searching to find a catalyst for AOL stock to move to the next level and back toward previous highs," said Graham and Benjamin. "Investor apprehension surrounding the company has depressed the stock to the $100 level, more than 40 percent below its high of $175."

"We believe there have been four areas of concern holding the stock back. These are market share and subscriber growth, international competition, pricing and free services issues, and broadband access development," said Graham and Benjamin.

"It appears we have seen some resolution of the first three issues over the past few days. We believe that as AOL continues to address these issues and as we head into Shop@AOL's first eCommerce holiday season, there is significant upside potential for the stock."

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