Monty Solomon (monty@roscom.com) Wed, 3 Aug 2005 22:39:47 -0400

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NEW YORK--(BUSINESS WIRE)--Aug. 3, 2005--Time Warner Inc. (NYSE:TWX) -- Company Reaches Agreement in Principle to Resolve Its Primary Securities Class Action Litigation and Reserves $3 Billion Related to All Pending Securities Litigation Matters -- Board of Directors Authorizes $5 Billion Stock Repurchase Program Time Warner Inc. (NYSE:TWX) today reported financial results for its second quarter ended June 30, 2005. The Company also announced that it has reached an agreement in principle to resolve its primary securities class action litigation and established reserves of $3 billion related to this and all other related securities litigation matters. In addition, Time Warner's Board of Directors has authorized a $5 billion stock repurchase program over the next two years. - http://finance.lycos.com/home/news/story.asp?story=50881109

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