AOL Europe Announces Expanded Alliance With Online Search Leader Google

Multi-year Agreement Provides AOL's European Members Access to Google's Targeted Advertising

DULLES, Va. and MOUNTAIN VIEW, Calif. - October 19, 2004 - AOL Europe, Europe's leading Internet, online and e-commerce services provider, and Google Inc. (Nasdaq: GOOG), developer of the award-winning Google search engine, today announced a new multi-year agreement that will provide users of the AOL European services with targeted advertising from Google's AdWords advertisers. Financial terms of the agreement were not disclosed.

The agreement underlines AOL's commitment to providing the most comprehensive, relevant and useful search experience for its approx. 6.3 million members in the UK, France and Germany.

Google currently provides web search results for AOL search products in Europe. Under the new expanded alliance with Google, users of the AOL services in the UK, France and Germany will now also get targeted advertising from Google related to their search request. Google AdWords advertisers can now appear on the search results pages of AOL's European properties based on users' expressed interests. This enables Google advertisers to reach millions of potential customers searching on AOL properties across the UK, France and Germany.

This enhanced partnership allows AOL to continue to take full advantage of the rapid growth in online marketing in Europe, particularly in search-related advertising.

"This strategic alliance with Google, one of the leading search providers, underscores our commitment to providing our European consumers with the best online experience possible, while providing great value to our marketing partners," said Philip Rowley, President of AOL Europe. "By expanding AOL's relationship with Google, AOL Europe provides our members in the UK, France and Germany with useful information about products and services relevant to their searches, and ensures that we are continuing to provide a vehicle for advertisers to reach a highly desirable audience in a compelling and effective way."

"We are pleased to strengthen and grow our existing worldwide partnership with AOL", said Omid Kordestani, Senior Vice President of Worldwide Sales and Field Operations at Google. "Partnering with one of Europe's leading online and interactive services providers reflects Google's continued commitment to providing value to our European advertising customers. With this new agreement, AOL's European operations will benefit from the revenue opportunity, while its users will enjoy an enhanced online experience through the addition of relevant commercial information."

About AOL Europe
AOL Europe is a business unit of America Online, Inc., which is the world's leading interactive services company with more than 30 million members worldwide. America Online, Inc. is a wholly owned subsidiary of Time Warner Inc. America Online is the world's leader in interactive services, Web brands, Internet technologies and e-commerce services.

About Google Inc.
Google's innovative search technologies connect millions of people around the world with information every day. Founded in 1998 by Stanford Ph.D. students Larry Page and Sergey Brin, Google today is a top web property in all major global markets. Google's targeted advertising program, which is the largest and fastest growing in the industry, provides businesses of all sizes with measurable results, while enhancing the overall web experience for users. Google is headquartered in Silicon Valley with offices throughout North America, Europe, and Asia. For more information, visit www.google.com.

This press release contains forward-looking statements that involve risks and uncertainties, including statements relating to the future results of the relationship between Google and AOL Europe. Actual results may differ materially from the results predicted. Factors that could cause actual results to differ from the results predicted include volatility in the demand for online advertising or web search services in Europe. More information about potential risk factors that could affect the success of Google's business and the Google/AOL Europe relationship is included in Google's quarterly reports on Form 10-Q and from time to time in other reports filed by Google with the Securities and Exchange Commission.