AOL Realigns Business, Unveils Global Integrated Advertising Platform

AOL today announced a series of changes it is making to position
the company as the world's largest and most effective advertising
network, building on its industry-leading Advertising.com network and
the recent acquisitions of TACODA, Third Screen Media, Lightningcast
and ADTECH. The realignment marks the final stage in AOL's transition
from an access business to a global, ad-supported Web company.

The new entity, called Platform A, will offer advertisers access
to the most sophisticated targeting and measurement tools available in
the marketplace across Platform A's unmatched network of third-party
sites, as well as AOL's owned and operated sites. Platform A already
reaches more than 90% of the domestic online audience, according to
comScore Media Metrix. Platform A builds on the success of
Advertising.com, which operates the largest third-party display
network, and integrates behavioral targeting leader TACODA, Third
Screen Media, which operates the largest mobile media network, market
leading video ad serving platform Lightningcast, and ADTECH's global
ad serving platform.

AOL also announced that it will move its corporate headquarters to
New York City, locating it in the center of the media advertising
marketplace.

"With these changes, Randy Falco, Ron Grant and their team have
positioned AOL to benefit fully from the trends that are reshaping the
online advertising business and to expand AOL's leadership in it,"
said Jeff Bewkes, President and COO of Time Warner. "Advertisers are
increasingly demanding quality, scale and measurable results, and the
new Platform A organization delivers that."

"With the increasing fragmentation of online audiences, the best
way to serve advertisers is to enable them to harness massive
advertising networks that reach across the entire Internet, not just
our AOL websites," said Randy Falco, Chairman and CEO of AOL. "And
over the past eight months, we have put together a network with
unprecedented reach and state-of-the-art solutions that accomplishes
this. With the launch of Platform A, we are unleashing this powerful
network to deliver unrivaled transparency and return on investment for
our marketing partners."

Curtis G. Viebranz was named AOL EVP and President of Platform A,
reporting to AOL President and COO Ron Grant. Viebranz was formerly
CEO of TACODA. Reporting to him will be Lynda Clarizio, who continues
to head Advertising.com, and Kathy Kayse, who will run AOL brand
solutions, focusing on custom solutions leveraging our premium
inventory and the assets across Platform A for top brand advertisers.

AOL will relocate its corporate headquarters to 770 Broadway in
New York City, where the company has leased office space and where
AOL's New York-based advertising and programming operations also will
be based. AOL will continue to have significant operations in Dulles,
VA, as well as offices in Mountain View, CA, and other locations.

"New York City is the center of advertising, so it makes perfect
sense to locate our corporate headquarters here," said Falco.

AOL separately announced today that it has signed an agreement
with HP to offer co-branded, localized versions of its portal, toolbar
and search on HP desktop and notebook PCs sold worldwide. Under the
agreement, the co-branded portal will be set as the default homepage,
and the co-branded toolbar and search will be default settings in
various countries worldwide.

The agreement extends and expands the existing relationship
between HP and AOL, which provides consumers with a co-branded AOL/HP
portal as the default homepage for HP consumer PCs sold in the U.S.

Under the new agreement, AOL will provide HP with co-branded local
language portals and toolbars, as well as search solutions for each
relevant country. AOL will provide HP users with a customizable,
modular co-branded portal, based on myAOL, which was recently released
into public beta in the U.S. The portal will provide space on the home
page for end users to access relevant HP content, services and partner
offerings, as well as offer consumers and business users access to
other key AOL products and services in international markets.

These announcements are part of a series of aggressive steps AOL
is taking to grow its advertising business and increase the size and
engagement of its worldwide audience based on four key pillars:
building a world-leading display advertising network; products and
programming leadership on the Web; rapid international growth; and
right-sizing the company's cost structure.

For example, the company has revamped its product and programming
lineup, introducing new products like Mgnet and Bluestring, enhancing
current products like its web-based AOL Mail and AIM services, and
re-launching key channels like News, Sports, Money & Finance and
Music. In addition, AOL has launched new portals in India, Austria,
the Netherlands and, last week, in Italy.

About AOL

AOL(R) 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 one of the largest Internet access
businesses in the U.S., 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.