investor relations

America Online and Warner Music Group Team Up for Innovative Online Reality Series The Biz

08/09/05

DO YOU KNOW "THE NEXT BIG THING" WHEN YOU HEAR IT? CAN YOU PREDICT HITS BEFORE THEY HAPPEN? ARE YOU A MUSIC MOGUL YEARNING FOR THE CHANCE TO PROVE YOURSELF?

AOL® Music's New Online Reality Show, "The Biz," Searches For The Winner Who Will Helm His Or Her Own Record Label

Thousands of Aspiring Music Moguls Have Signed Up So Far To Vie For The Ultimate Prize; Submissions Accepted At www.getintothebiz.com

Until September 1

New York, NY - August 9, 2005 - Calling all music mogul wannabes*! America Online and Warner Music Group have teamed up to produce an innovative online reality series called "The Biz," in which contestants vie for the coveted position of President of a newly created record label marketed and distributed by Warner Music Group. The series will be produced by critically acclaimed Stick Figure Productions.

As the music industry has been transformed by the increasing popularity of online and mobile music, listeners have more control than ever before, becoming their own self-styled record producers. The Biz taps into this movement and spotlights the "ears" behind the stars, those who discover, nurture and create superstar artists as producers and marketers and those who influence music industry movers and shakers as well as the public. If that's you, enter to win at www.getintothebiz.com.

Since its launch, www.getintothebiz.com has received thousands of applications from potential contestants. Applicants hail from all over the country and across musical genres, but they all share a common passion for music. Entry submissions for "The Biz" will be accepted until September 1. The online series launches on the AOL service this fall with the top 10 contestants.

AOL Music (www.aolmusic.com) is the leading online destination for music, reaching more than 25.9 million music fans a month** through a rich array of programming, products and services that make it easy to discover, experience, listen to and buy music online.

About Warner Music Group
Warner Music Group, with its broad roster of new stars and legendary artists, is one of the world's major music companies. The company is home to a collection of some of the best-known record labels in the music industry including Atlantic, Bad Boy, Elektra, Lava, Maverick, Nonesuch, Reprise, Rhino, Sire, Warner Bros. and Word. Warner Music International, a leading company in national and international repertoire operates through 37 affiliates and numerous licensees in more than 50 countries. Warner Music Group also includes Warner/Chappell Music, a global music publisher, with a catalog of more than one million copyrights worldwide.

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

About Stick Figure Productions
Stick Figure Productions is a New York based film and television production company who have made projects with HBO, UPN, PBS, Cinemax, IFC, VH1, AMC, Bravo, and Showtime. Their projects have played at numerous film festivals, and been nominated for Emmy and Academy Awards. They recently created and executive produced "Family Bonds," a critically-acclaimed real-life series for HBO's Sunday night lineup. They also executive produced "Amish In the City," a reality series for UPN which drew some of the network's highest ratings ever.

* applicants must be over age 18 to be considered for the program
** comScore Media Metrix, June 2005