Time Warner Appoints Randall Lane Director of Minority Business Development

February 17, 1998

Appointment Part of Ongoing Diversity Initiative

Randall L. Lane has been named Director, Minority Business Development, for Time Warner Inc., it was announced today by Time Warner President Richard D. Parsons. He will report to Toni Fay, Vice President of Community Relations.

In making the announcement, Parsons said, "Randall's appointment reflects Time Warner's ongoing diversity initiative. He will focus on efforts to increase the amount of goods and services the company purchases from minority-group entrepreneurs. Randall will seek to assist minority-owned businesses to become competitive sources of supplies through strategies that include mentoring, joint ventures, strategic alliances and vendor subcontracting. We know that Randall will be a major asset to the company in his new role."

Lane, a leader in the fields of purchasing, cost analysis, business development and diversity, comes to Time Warner from Bell Atlantic, where he was most recently Director, Central Sourcing Support, Diversified Supplier Relations. Previously, he held a number of key financial, administrative and executive positions with Nynex, the Mashantucket Pequot Tribal Nation and Citibank.

Lane received a B.A. from Case Western Reserve University and an M.B.A. from New York University. He is on the boards of the National Association of Purchasing Managers-Minority Business Development Group, the New York/New Jersey Minority Purchasing Council and the Ice Theatre of New York.

Time Warner Inc., the world's leading media and entertainment company, consists of four fundamental businesses: entertainment, cable networks, publishing and cable, with interests in filmed entertainment, television production, broadcasting, recorded music, music publishing, cable television programming, sports franchises, magazines, book publishing and cable television systems.

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