Starboard Issues Statement to AOL Holders, Says Pleased that ISS and Glass Lewis Have Supported Starboard

Starboard Value LP (together with its affiliates, "Starboard"), one of the largest shareholders of AOL Inc. ("AOL" or the "Company") (NYSE: AOL), today issued the following statement to AOL shareholders following reports issued by Institutional Shareholder Services Inc. ("ISS") and Glass Lewis & Co., LLC ("Glass Lewis") recommending shareholders vote for AOL Board change on Starboard's GOLD proxy card at the Company's Annual Meeting of Stockholders to be held on June 14, 2012.

"We are pleased to report that two highly respected independent proxy voting advisory firms, ISS and Glass Lewis, have voiced their strong support that change is required to the AOL Board.  Both proxy advisory firms performed an objective, detailed analysis of this election contest and carefully considered all the facts and circumstances as they relate to the Company and your investment.  Both have recommended that you vote on our GOLD proxy card. 

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