America Online, Standard & Poor's Announce Premium Content Partnership to Deliver Online Investment Advice

March 12, 1998

Agreement Offers Substantial Value for AOL Members Through Discounts and Original Exclusive Content DULLES, VA and NEW YORK, NY - March 12, 1998 -- America Online, Inc. [NYSE: AOL], the world's leading Internet online service, and Standard & Poor's Consumer Markets, a division of The McGraw-Hill Companies, today announced an agreement under which AOL will prominently feature S&P Personal Wealth, the newly launched premium Web investment management service, in the AOL Personal Finance Channel, the most popular finance offering in cyberspace. One of the most innovative entries into the popular online investment category, S&P Personal Wealth represents the first time individual investors can access advice specific to their own portfolio, goals and risk tolerance. Standard & Poor's is able to bring online investors this unique service because the site is produced under Registered Investment Advisor status. In addition, the site's proprietary design is also equipped to alert each user with breaking news relevant to their portfolios and provide an easy-to-navigate way for users to get in-depth company research from Standard & Poor's expansive data archives. S&P Personal Wealth also features one of the Internet's most comprehensive suite of investment management features, original editorial content, market commentary, analysis and research. AOL's agreement with Standard & Poor's is the most recent in a series of major partnerships in the Personal Finance Channel, and will bring substantial value to the more than 5 million AOL members who regularly use the Personal Finance Channel. As the most frequently visited Channel on the AOL service, the Personal Finance Channel distributes approximately 65 million quotes per trading day and tracks over six million active online investment portfolios. The Channel also contains the Brokerage Center, which is the largest electronic commerce site in the online world, and the Tax Planning area, where AOL members can complete and file their Federal income tax forms, learn about new tax laws, download tax forms, and communicate with others about tax issues. S&P Personal Wealth is located within several areas of the AOL Personal Finance Channel, including the Brokerage Center, Advice & Planning, Company Research, and Investing Basics. Standard & Poor's is offering a free 30-day trial of the S&P Personal Wealth area, with a $9.95 per month subscription rate after that. AOL members choosing to subscribe to the service are offered a 20% discount off standard subscription rates. Under the agreement, S&P Personal Wealth also creates significant exclusive programming for AOL members who subscribe to S&P Personal Wealth's service beyond the area's standard programming. In addition, S&P Personal Wealth and AOL will promote a live event calendar featuring Standard & Poor's financial professionals on AOL as well as explore other programming opportunities. Bob Pittman, President and COO of America Online, Inc., commented, "Standard & Poor's is one of the most powerful brand names on Wall Street, a name that stands for integrity and trust. As a partner in our Personal Finance Channel, S&P Personal Wealth will provide a truly unique service and information to AOL members. This agreement shows that AOL can truly leverage the value of the size of our community to benefit our members and bring them world-class content, value and the convenience they are looking for in managing their finances." Standard and Poor's Consumer Markets President John Fitzgerald said, "Americans are increasingly turning to interactive services to get information and advice on how and where to invest. S&P Personal Wealth provides an unparalleled depth and breadth of investment information and a place to turn to for advice and specific securities recommendations. We are delighted to partner with AOL to ensure that a significant portion of Internet online users can turn to S&P Personal Wealth for education and tailored advice on managing their finances and investing to win."

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