AOL And Katalyst Films - Founded by Ashton Kutcher and Jason Goldberg - Announce Web Production Deal

AOL and Katalyst Films, Inc. today announced an innovativeproduction deal that will bring new original programming to the Webexclusively on AOL.com (http://www.aol.com) and the AIM service(http://www.aim.com). Katalyst Films is co-owned by Ashton Kutcher andJason Goldberg.

The creators of Punk'd and Beauty and the Geek will develop,produce and deliver at least five programs, each with at least 20mini-episodes, that will be available on AOL.com and throughout theAIM(R) service later this year.

According to Ashton Kutcher, "At Katalyst, we love making moviesand television. Our core audience is into the Web so we felt it wasnatural for us to reach youth culture online."

Adds Jason Goldberg, "This partnership makes sense on so manylevels for both companies. As content providers and strategic partnersit makes it very easy for us to do what we do best when ourdistributor has a firm grasp of what they are looking to program andthe audience they are striving to connect with."

"Katalyst's understanding of young adult audiences makes them aperfect partner to help grow our original programming and communityefforts," said Jim Bankoff, Executive Vice President, Programming &Products for AOL. "These are smart, savvy, wickedly funny andundeniably creative guys - the embodiment of the demographic that isalready using the AIM service and AOL Comedy. We're able to tap intothat with Katalyst, and we're confident that the programming they'redeveloping is going to leave our audience in stitches."

The AOL.com portal already offers some of the Web's funniestprogramming at AOL Comedy (http://www.aol.com/comedy). Featuresinclude viral videos, on-demand stand-up performances, theMoviefone(R) Short Film Festival, comedy radio programming from XMRadio and much more.

With 43 million active users, the AIM service is the nation'slargest instant messaging community. It is now available for use oncomputers, cell phones and other handheld devices, and offers instantmessaging, email and SMS mobile texting as well as voice and videochat services.

About Katalyst Films, Inc.

Katalyst Films is a feature film and television production companybased in Hollywood, CA whose mission is to create thought provoking,adventurous and compelling content. The company was founded in 2000 bypartners, Ashton Kutcher and Jason Goldberg. In 2004, Katalyst Filmsjoined forces with 20th Century Fox Television in a multi-year overalldeal. In the summer of 2005, Karey Burke, former Executive VicePresident of Prime Time Series at NBC, joined Kutcher and Goldberg atthe company. Feature film credits include The Butterfly Effect (2004)and Guess Who (2005), and reality series credits include Punk'd,Beauty and the Geek and Fountains of Youth.

About America Online, Inc.

America Online, Inc. and its subsidiaries operate a leadingnetwork of Web brands and the largest Internet access subscriptionservice in the United States. Brands include the AOL(R) service, theAOL.com(R) website, and the AIM(R), MapQuest(R), Moviefone(R),Netscape(R), CompuServe(R) and ICQ(R) services. America Online offersa range of digital services. The company also has operations in Canadaand Europe. America Online, Inc. is based in Dulles, Virginia, and isa wholly owned subsidiary of Time Warner Inc. (NYSE:TWX).