AOL Time Warner to Be Renamed ``Time Warner'' on October 16; Company's Shares to Trade under ``TWX'' Ticker Symbol on NYSE

NEW YORK--()--Oct. 13, 2003--AOL Time Warner Inc. (NYSE: AOL) announced today that the change of its name to "Time Warner Inc." will become effective on Thursday, October 16, 2003. The ticker symbol for the Company's common stock also will change to "TWX" with the opening of the New York Stock Exchange on October 16, 2003. Effective with the name change, the CUSIP number for the Company's common stock will change to 887317 10 5.

Holders of stock certificates bearing the name "AOL Time Warner Inc." may continue to hold them and will not be required to exchange them for new stock certificates or take any other action.

In addition, the Company's Web site URL will change to http://www.timewarner.com.

The Company also announced that its subsidiary currently named "Time Warner Inc." will change its name to "Historic TW Inc." on October 16, 2003.

About AOL Time Warner Inc.

AOL Time Warner is the world's leading media and entertainment company, whose businesses include filmed entertainment, interactive services, television networks, cable systems, publishing and music.

Contacts

AOL Time Warner Inc., New York
Edward Adler, 212-484-6630
Tricia Primrose, 212-484-7450

Contacts

AOL Time Warner Inc., New York
Edward Adler, 212-484-6630
Tricia Primrose, 212-484-7450