Time Warner Named One of Five Best Employers for Women in New York City.

Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 27, 2003

Time Warner Inc. announced today that it has been named one of the five best employers for women in New York City in a survey released by the New York City Commission on Women's Issues. As one of the five highest-scoring

Patricia Fili-Krushel, Time Warner's executive vice president, administration, said: "Time Warner is pleased to be recognized by the Commission with its Distinguished Employer Award. The award reflects our Company's commitment to diversity as a core value as well as a business imperative. We're also pleased to have participated in the inaugural year of this survey and to support the Commission's other important efforts to encourage women's advancement in the workplace and to showcase New York City as a great place for women to work and live."

The Distinguished Employer Award was presented to Time Warner at a ceremony on October 23 at Barnard College in conjunction with the release of the Commission's inaugural "Working for Women in New York City" survey. The survey, which highlighted the accomplishments of the five award-winning organizations, focused on issues that are of special interest to working women, including work/life quality and effectiveness, career advancement and professional development. The survey is part of the Commission's larger campaign to improve the quality of life for working women in New York City and to brand New York as the "City of Choice for Women."

Fifty-one percent of Time Warner's New York City-based employees - and 54% of its New York City-based managers - are women. The Company has a formal strategy in place which focuses on gender diversity and inclusion, including initiatives in the areas of leadership development, succession planning, networking and mentoring, work/life effectiveness policies and programs, as well as philanthropic and community outreach activities.

Time Warner's commitment to diversity involves not only creating a diverse and inclusive work environment for employees, but also ensuring that diversity is a part of everything the Company does - from creative and journalistic enterprises, to relationships with suppliers and vendors, to investments in emerging businesses, to philanthropy and community outreach programs.

About Time Warner Inc.

Time Warner is the world's leading media and entertainment company, whose businesses include filmed entertainment, interactive services, television networks, cable systems, publishing and music.