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Time Warner to Present AOL’s Business Strategy Update


July 26, 2006, Time Warner Inc. (NYSE:TWX) and AOL will present AOL’s business strategy update on August 2, 2006. Senior AOL and Time Warner management will host a conference call beginning at 11:00 am ET. The dialing instructions for the call are:

In the United States: 888-664-9858
Outside the U.S.: 312-470-7325
Passcode: AOL

Please dial in at least ten minutes before the call is scheduled to start to ensure you are connected in time for the beginning of the meeting.

A replay will be available beginning approximately two hours after the call has ended and will run through midnight ET August 18, 2006, at the following numbers:

Inside the United States: 800-834-5839
Outside the U.S.: 203-369-3351
No passcode is required for either of the replay numbers.

An audio webcast of the call and slides will be available online at There will be a replay available beginning approximately two hours after the call has ended.

Please contact Time Warner Investor Relations via email at should you have any questions.

About AOL
AOL and its subsidiaries operate a leading network of Web brands and the largest Internet access subscription service in the United States. Web brands include the® website, AIM®, MapQuest® and Netscape®. AOL offers a range of digital services in the areas of education, safety and security, communications and music. The company also has operations in Europe and Canada. AOL LLC is a majority-owned subsidiary of Time Warner Inc. (NYSE:TWX) and is based in Dulles, Virginia.

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.

Caution Concerning Forward-Looking Statements
This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other factors affecting the operation of the businesses of Time Warner Inc. More detailed information about these factors may be found in filings by Time Warner with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q. Time Warner is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, or otherwise.


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