Hagens Berman Sobol Shapiro Cases

AOL Settlement

Date Filed: May 10, 2002

Court: Various

Location: Worldwide

Statement Regarding Proposed Settlement in the

In Re America Online, Inc. Version 5.0 Litigation
May 10, 2002

Miami, Florida. Beginning in January 2000, putative class action complaints were filed against America Online, Inc. by consumers who believed that they had difficulties with the 5.0 Software. Under a proposed settlement, persons who installed the 5.0 Software and file a proof of claim certifying under oath that they experienced difficulties may be eligible to participate in a $15.5 million settlement fund. In addition to paying claims, the settlement fund will also cover the costs of notice to the settlement class, administrative expenses, any attorneysý fees, and expenses that the Court may award to Plaintiffsý counsel.

After conducting extensive discovery, retaining independent computer experts to review and test the 5.0 Software, and after assessing the risks of litigation, Plaintiffsý counsel is of the opinion that the settlement is fair and equitable to the Settlement Class Members. Plaintiffsý counsel based this opinion on several factors including the lack of probability of success on certain claims, the uncertainty of the litigation, and because of actions already taken by AOL to address these issues.

AOL believes that AOL 5.0 is a reliable software program that has made and continues to make using the Internet easy, safe, convenient and reliable. Accordingly, AOL strenuously denies the plaintiffsý allegations and is settling this Action to avoid the burden of litigation.

The Official Notice can be viewed at the Internet website address www.50softwaresettlement.com or can be requested by calling 1-888-641-4434. The proposed settlement will be reviewed by Judge Alan Gold of the United States District Court for the Southern District of Florida. The parties expect the proposed settlement to be approved. Any questions regarding the settlement should be directed to the Garden City Group (1-888-641-4434) (Settlement Class Administrator), A. J. DeBartolomeo of Girard Gibbs & DeBartolomeo LLP (415-981-4800) (Plaintiffsý counsel), or Nicholas Graham of AOLýs Corporate Communications (703-265-5626).