Donn Davis Joins America Online, Inc. as Senior Vice President for Business Development

April 28, 1998

DULLES, VA, April 28, 1998 - America Online, Inc. [NYSE: AOL] announced today that Donn Davis joined the Company as Senior Vice President for Business Development. Mr. Davis comes to America Online from Tribune Company, where he founded and served as President of Tribune Ventures for the past three years. Responsible for the corporate venture investment group's strategic, operating and investment plans, Mr. Davis built and managed Tribune Ventures' 10-company, $500-million portfolio that delivered an annual return of 55%. As the co-leader of Tribune Company's new media activities, his experience includes substantial work with several Internet companies, including Excite, iVillage, and Digital City, a joint venture between AOL and Tribune Company. "We're very pleased to have Donn join our business development team," America Online Chairman and CEO Steve Case said. "We have worked closely in several joint ventures with Donn and have been impressed by his ability to identify and build value in interactive media businesses. He will become a key player on our business development team headed by Miles Gilburne as we focus more resources on expanding our presence on the Web, broadband, and consumer media devices." A graduate of Miami University (Ohio) and the University of Michigan Law School, Mr. Davis began his career with Sidley & Austin in the law firm's Chicago office. He joined Tribune Company as Senior Counsel in 1992, where he was responsible for all acquisitions, financings, joint ventures, and other strategic transaction matters.

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