Mathias Dopfner, Chairman And CEO Of Axel Springer, to Join Time Warner Board of Directors

Business Wire,  July 31, 2006  

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NEW YORK -- Time Warner Inc. (NYSE: TWX) announced that its Board of Directors has elected Mathias Dopfner to join the Board, effective today. Mr. Dopfner is Chairman, Chief Executive Officer and Head of the Newspapers Division of Axel Springer AG, Germany's largest newspaper publisher.

Robert C. Clark, who chairs the Time Warner Board's Nominating and Governance Committee, said: "We're delighted that Mr. Dopfner has joined Time Warner's Board. He's an energetic and widely respected executive, with a solid record of leadership in the media industry. Mr. Dopfner not only brings the personal qualities that we seek in directors, but also enhances our Board's independence and geographic diversity."

Dick Parsons, Chairman and CEO of Time Warner, said: "Mathias Dopfner has done a terrific job of running one of the leading media companies in Europe, which is a key region of growth and opportunity for our company. In doing so, he has emerged at the top of a new generation of media industry leaders. He has a deep understanding of the challenges and opportunities facing media businesses around the world as well as the intelligence and character to enable him to serve the interests of our shareholders effectively."

Mr. Dopfner said: "I'm honored to join Time Warner's Board of Directors. I look forward to the opportunity to work with my fellow Board members and management in helping this great company achieve its strategic objectives and provide superior returns for its shareholders."

Mr. Dopfner, 43, becomes the 12th member of Time Warner's Board. His election is part of the company's previously announced plan to add two new independent directors to its Board. Under the leadership of the Nominating and Governance Committee, the company is continuing the process of recruiting an additional independent director. The other members of Time Warner's Board are Richard D. Parsons, James L. Barksdale, Stephen F. Bollenbach, Frank J. Caufield, Robert C. Clark, Jessica P. Einhorn, Reuben Mark, Michael A. Miles, Kenneth J. Novack, Francis T. Vincent, Jr. and Deborah C. Wright.

Since 2002, Mr. Dopfner has been CEO of Axel Springer, which publishes more than 150 newspapers and magazines in 32 countries. He joined Axel Springer in 1998, as Editor-in-Chief of Die Welt. From 2000 to 2002, he served as the member of Axel Springer's Management Board responsible for the company's Multimedia and Newspapers Divisions. Before joining Axel Springer, Mr. Dopfner was Editor-in-Chief of Hamburger Morgenpost (1996-1998) and Wochenpost (1994-1996).

About Time Warner Inc.

Time Warner Inc. is a leading media and entertainment company, whose businesses include interactive services, cable systems, filmed entertainment, television networks and publishing.

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