NEW YORK - Time Warner Inc. [NYSE: TWX] has been named one of DiversityInc's Top 50 Companies for Diversity. In its first time competing for this recognition, Time Warner ranked 49th on the publication's 2004 list.

A total of 178 companies participated in DiversityInc's fourth annual ranking, reflecting an increase of more than 50 percent from last year. The complete list of winners is available at www.DiversityInc.com and results will be detailed in the June/July issue of DiversityInc magazine.

"At Time Warner, fostering diversity is a fundamental part of the way we do business," said Patricia Fili-Krushel, executive vice president, administration at Time Warner. "We're proud to have been recognized by DiversityInc for the progress we've made in ensuring that diversity is both a core value and a business imperative at our company."

"Managing diversity is a competitive factor for any business, from sales and marketing to recruiting and retaining the best talent," said Luke Visconti, partner/co-founder, DiversityInc. "Making this list is a tribute to Time Warner's efforts to increase its diverse work force and to aim its marketing efforts at diverse consumers."

To assess the companies' measurement programs for evaluating diversity success, DiversityInc asked participants for data on four key areas: CEO Commitment, Human Capital, Corporate Communications (internal and external) and Supplier Diversity.

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

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Tricia Primrose Wallace
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