America Online and Edmunds.Com Announce New Marketing and Technology Alliance

DULLES, Va. & SANTA MONICA, Calif.--Aug. 1, 20031, 2003--America Online, Inc.-- -- Edmunds.com Powering New Cars Areas Across Several America Online Brands, Just As Car Buying Season Heats Up -- With Edmunds' Leading Tools and Services, It's Easier Than Ever for AOL, CompuServe and Netscape Users To Research The Latest Models and Get the Best Price from Local Car Dealers

Just in time for new car season, America Online, Inc., the world's leading interactive services company, and Edmunds.com, the premier online resource for automotive information, have formed an alliance that will provide AOL members far greater control over their new-car buying process. Edmunds.com is now powering the new cars areas of the relaunched AOL Autos Channel, allowing users to research the make, model and trim options on new vehicles, read reviews written by leading auto industry critics, compare options from one model to another, read about new dealer incentives and get free price quotes from the nearest qualified dealer.

The new alliance is integral to the new Autos areas across AOL, CompuServe and Netscape, also announced today. AOL Autos offers a convenient and intuitive car buying experience that makes it virtually effortless for consumers to find the exact new or used car they want, while helping save both time and money. The agreement will also help enable America Online to directly build and expand on its existing relationships with many of the leading car manufacturers, as well as finance, insurance, and warranty partners.

Researching automobile purchases and sales is one of the most popular activities in the world of online commerce. According to a study from Forrester Research, 68% of consumers who used non-car company Web sites say they were important for helping them make decisions about their vehicle purchase, exceeding the number who relied on advice from friends (61%), car company Web sites (59%), or auto dealership personnel (57%).

The new Autos areas of America Online's brands will tap into that growing interest by offering AOL, CompuServe and Netscape users such valuable services from Edmunds.com as:

** All-new car research and comparison tools, such as new Buying Guides where users will be able to find and read reviews of the top-rated current-model year cars;

** New pricing tools, where members will be able to research a model with options and find the latest dealer incentives;

** Edmunds' expert reviews for all available current-year vehicles;

** Convenient free-quote pricing from qualified local dealers to help members get the best deal.

Chris Croll, Vice President of E-Commerce, America Online, said: "By forming an alliance with one of the most-trusted brands in the Automotive space, AOL members will have a convenient, one-stop shop that offers virtually every resource a consumer might need to buy a new car from Buying Guides to a price quote service that brings the local car dealers directly to the car shopper. AOL Autos is about putting our members in control of the car buying process."

"AOL members will benefit from having easy access to the Web's most useful and accurate automotive information," said Seth Berkowitz, Vice President of Business Development for Edmunds. "And, there is very little audience overlap between AOL and Edmunds.com so this really is a win-win for both companies as well."

About America Online

America Online, Inc. is a wholly owned subsidiary of AOL 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 Edmunds.com, Inc.

Edmunds.com is the premier online resource for automotive information. Its comprehensive set of data, tools and services, including Edmunds.com True Market Value(R) pricing, is generated by Edmunds Data Services and is licensed to third parties. For example, the company supplies over 800,000 pages of content for NYTimes.com's auto section and delivers monthly data reports to Wall Street analysts. Edmunds.com was named "best car research" site by Forbes ASAP, is viewed by consumers as the "most useful Web site" according to the J.D. Power and Associates New Autoshopper.com StudiesSM for both 2001 and 2002, and was ranked first in the Survey of Car-Shopping Web Sites as reported by The Wall Street Journal. The company is headquartered in Santa Monica, California and maintains a satellite office in Troy, Michigan.