Time Warner Inc. Declares Regular Quarterly Dividend

January 26, 2006, NEW YORK – The Board of Directors of Time Warner Inc. (NYSE:TWX) today declared a regular quarterly dividend of $0.05 per share on its Common Stock, payable in cash on March 15, 2006 to stockholders of record at the close of business on February 28, 2006.

This is the third quarterly dividend declared under the company’s dividend policy, which was announced at the May 20, 2005 annual meeting of stockholders.

About Time Warner Inc.
Time Warner Inc. is a leading media and entertainment company, whose businesses include interactive services, cable systems, filmed entertainment, television networks and publishing.

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Edward Adler

Corporate Communications

Time Warner Inc.

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