PATCH APPOINTS STEVEN KALIN PRESIDENT AND CHIEF OPERATING OFFICER


NEW YORK, NY, December 5, 2012 - Patch, AOL's leading online local news and information platform, today appointed Steven Kalin President and Chief Operating Officer. In this newly created role, Kalin will oversee Patch's day-to-day operations including editorial, sales, and analytics. Kalin will be based at the company's New York headquarters and report to Jon Brod, CEO and Co-Founder of Patch.

"Steve brings to Patch deep and relevant online and offline operating experience and a proven track record of effectively scaling advertising and content businesses within local media companies," said Brod. "Patch has momentum in 2012 and with revenue up over 100% and usage up 40% versus last year, Patch is on pace to achieve 2013 run-rate profitability. Steve is a great addition to our leadership team as Patch continues to grow."

Kalin was previously Chief Operating Officer of Westwood One, one of the largest syndicators of programming to the radio industry, and President of the Metro Traffic division, the largest provider of traffic and local content to radio stations in the U.S. In that capacity, Kalin was responsible for the management of over 3,000 affiliate relationships and more than 1,000 employees, including a 120 person sales force, over 700 on-air traffic reporters and data specialists and a 65 person news gathering organization.

Prior to Westwood One, Kalin was Chief Operating Officer and a Board member of Rodale, a global health and wellness publisher of brands including Men's Health, Prevention, Runner's World and Women's Health. Prior to that, Kalin was Chief Operating Officer of Medscape and held positions with ESPN and McKinsey & Company.

"I live in a Patch town and I have seen first hand how Patch is uniquely positioned to benefit from the void created by the exit of traditional media from our neighborhoods across the U.S.," said Kalin. "I have built a career in helping to scale such organizations and I look forward to joining Jon and the team during this exciting growth phase."

Kalin received a Master's in Business Administration from Harvard Graduate School of Business Administration and a BA in Economics and Computer Science from Brown University. He was previously a Board member of The United Way of Lehigh Valley.

Kalin's appointment is the latest addition to the Patch leadership team. In October, Leigh Zarelli Lewis joined Patch as SVP of Strategy and Business Development and Jim Lipuma joined as Head of U.S. Sales.

About Patch
Launched in 2009 with the mission of becoming the most trusted source of local news and information via a platform of hyperlocal sites, Patch now serves nearly 15 million users (comScore, October 2012). Patch is managed by professional local journalists, photographers, and salespeople who live in the regions they serve. The hyperlocal platform is the premier online destination for residents who want to participate in discussions, post announcements and event information, share their perspectives via Patch's blogging platform, and get involved in their communities. In addition, business owners and advertisers benefit from Patch's unique ability to reach new and existing customers. Serving as the eyes and ears for what is happening at the grassroots level across the country, Patch is now in over 900 communities in 23 states plus Washington, D.C.

About AOL
AOL Inc. (NYSE: AOL) is a brand company, committed to continuously innovating, growing, and investing in brands and experiences that inform, entertain, and connect the world. The home of a world-class collection of premium brands, AOL creates original content that engages audiences on a local and global scale. We help marketers connect with these audiences through effective and engaging digital advertising solutions.

Forward Looking Statement
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 regarding business strategies, market potential, future financial and operational performance and other matters. Words such as "anticipates," "estimates," "expects," "projects," "forecasts," "intends," "plans," "will," "believes" and words and terms of similar substance used in connection with any discussion of future operating or financial performance identify forward-looking statements. These forward-looking statements are based on management's current expectations and beliefs about future events. As with any projection or forecast, they are inherently susceptible to uncertainty and changes in circumstances. Except as required by law, we are under no obligation to, and expressly disclaim any obligation to, update or alter any forward-looking statements whether as a result of such changes, new information, subsequent events or otherwise. Various factors could adversely affect our operations, business or financial results in the future and cause our actual results to differ materially from those contained in the forward-looking statements, including those factors discussed in detail in the "Risk Factors" section contained in our Annual Report on Form 10-K for the year ended December 31, 2011 (the "Annual Report"), filed with the Securities and Exchange Commission. In addition, we operate a web services company in a highly competitive, rapidly changing and consumer- and technology-driven industry. This industry is affected by government regulation, economic, strategic, political and social conditions, consumer response to new and existing products and services, technological developments and, particularly in view of new technologies, the continued ability to protect intellectual property rights. Our actual results could differ materially from management's expectations because of changes in such factors. Achieving our business and financial objectives, including improved financial results and maintenance of a strong balance sheet and liquidity position, could be adversely affected by the factors discussed or referenced under the "Risk Factors" section contained in the Annual Report as well as, among other things: 1) changes in our plans, strategies and intentions with respect to Patch; 2) our ability to attract and retain key employees; 3) any negative unintended consequences of cost reductions, restructuring actions or similar efforts, including with respect to any associated savings, charges or other amounts; 3) market adoption of new and existing Patch products and services; 4) our ability to attract and retain unique visitors to our Patch properties; and 5) the intensity of competition in Patch communities.

Press Contact:

Joe Wiggins joe.wiggins@patch.com 212-274-2319

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