DULLES, Va., and NEW YORK -- AmericaOnline, Inc. (NYSE:AOL) and Time Warner Inc. (NYSE: TWX) released thefollowing joint statement in response to today's decision by theEuropean Commission to approve their merger:

"We are very pleased with today's approval of our merger by theEuropean Commission, another important step forward in the approvalprocess."

In addition to today's action by the EC, AOL and Time Warnerreceived shareholder approval of their merger on June 23 and by lastmonth had the necessary Time Warner Cable franchise approvals. The companies' discussions with U.S. regulators are proceedingwell and the companies are confident they will conclude successfully.AOL and Time Warner said they are on track to close their merger thisfall.

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