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AOL ISSUES STATEMENT IN RESPONSE TO STARBOARD LETTER TO COMPANY

Dec 21, 2011

AOL ISSUES STATEMENT IN RESPONSE TO STARBOARD LETTER TO COMPANY

NEW YORK, NY - December 21, 2011– AOL, Inc. (NYSE: AOL) today issued the following statement in response to the press release issued by Starboard Value LP:

Over the last two years AOL has significantly reduced costs, sold non-core assets, made significant investments for our future, and also recently repurchased over 10% of outstanding shares. AOL has a clear strategy and operational plan to provide our consumers and customers with exceptional value, which we believe will lead to the creation of shareholder value. Our Board and management team remain firmly committed to creating value for all shareholders and we will continue to aggressively execute on our strategy in 2012 as we continue the turnaround of AOL.

About AOL
Having helped millions of Americans to get online, AOL Inc. (NYSE: AOL) is on a mission to 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.

From time to time, we post information about AOL on our investor relations website (http://ir.aol.com) and our official corporate blog (http://blog.aol.com).

Media Contact:
Maureen Sullivan
Maureen.Sullivan@teamaol.com
212-206-5030

Investor Relations Contact:
Eoin Ryan
Eoin.Ryan@teamaol.com
212-206-5025

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