January 20, 1998 - America Online (NYSE: AOL) today announced that its worldwide membership reached 11 million members, continuing its momentum bringing the mass-market online. Strong membership growth throughout the December quarter and into January, combined with higher member retention rates, fueled the company's subscriber increases. In addition, AOL is likely benefiting from the emergence of Personal Computers priced less than $1000 - which are estimated to have accounted for more than 40% of all home computer sales this holiday season - further accelerating mass-market growth. 'The strong, steady growth at AOL underscores our continued success in building a global mass-market online community,' said Bob Pittman, President and CEO of AOL Networks. 'Our members are increasingly making AOL an important part of their everyday lives, breaking usage records and utilizing the service for essential activities like holiday shopping. Advertisers and electronic commerce retailers are taking notice of these trends as well. In the past month alone, we've added Cybermeals and Cars.com to our growing list of partners -- and expanded our relationship with Barnes and Noble - bringing our members even greater opportunities and benefits' Pittman continued, 'At the same time, AOL remains focused on providing the best possible online experience. We're continuing to add an average of 25,000 modems per month to our access network, reaching a record of over 600,000 simultaneous users during prime-time hours. The expansion of our network remains a top priority' AOL reached 10 million members worldwide on November 17, 1997, and it announced on December 16, 1997 that it had surpassed 1 million members outside the United States.