BOARD APPROVES AOL TIME WARNER NAME CHANGE

Company Hires Lippincott Mercer to Work on Brand Identity

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NEW YORK (AdAge.com) -- Following the expected decision today by AOL Time Warner's board of directors to drop "AOL" from the corporate name, the company hired a consultant to work on its brand identity.

The company will now be known as Time Warner and its ticker symbol on the New York Stock Exchange will revert to "TWX," which the media company used prior to its $112 billion merger with america Online in January 2001. That process will take a few weeks, according to a company spokeswoman.

'Ends any confusion'
"We believe that our new name better

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reflects the portfolio of our valuable businesses and ends any confusion between our corporate name and the America Online brand name for our investors, partners and the public," Chairman-CEO Richard Parsons said in a statement.

The company hired Lippincott Mercer, New York, to work on brand identity for Time Warner, said Edward Adler, senior vice president of corporate communications for AOL Time Warner. No billings were disclosed.

The company held discussions with brand consultants SiegelGale, Lippincott Mercer and WPP Group's Landor, all New York, over the last week in the event that the board voted to delete AOL from the company's name. Lippincott will explore design alternatives to "freshen" the current logo, Mr. Adler said.

Landor worked on the corporate identity at the time of the merger.

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