Richard Bressler Named Executive Vice President of Time Warner

January 20, 1998

Richard J. Bressler, chief financial officer of Time Warner Inc., has added the title of executive vice president of the company, it was announced today by Time Warner Chairman and CEO Gerald M. Levin and Time Warner President Richard D. Parsons. The appointment was approved by the company's Board of Directors. Mr. Bressler was named chief financial officer in March 1995.

In making the announcement, Mr. Levin and Mr. Parsons said, "Under the direction of CFO Rich Bressler, we have fundamentally restructured our financial base, dramatically strengthened the company's balance sheet and improved our overall performance. Rich combines a thorough command of Time Warner's financial plan with a deep understanding of the unique aspects of each of our businesses. He is a person of intelligence and integrity, and Time Warner is fortunate to have him. This promotion is richly deserved."

Bressler joined Time Warner in 1988 as an assistant controller. In 1990, he became a corporate vice president and was named senior vice president in January 1995. Prior to Time Warner, he was a partner at the accounting firm of Ernst & Young, where he became one of the youngest partners in the history of the firm.

Bressler graduated Summa Cum Laude from Adelphi College in 1979. He is on the boards of Prep for Prep and New York City Outward Bound, and serves on the Chase National Advisory Board and CFO Advisory Council. He is a trustee of the Citizens Budget Commission and is a member of the American Institute of Certified Public Accountants and the New York State Society of Certified Public Accountants. He lives in Cold Spring Harbor, N.Y., with his wife and two daughters.

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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