AOL Announces Final Steps in Returning $1.1 Billion to AOL Shareholders

AOL Inc.

announced today its final steps in returning approximately $1.1 billion to AOL shareholders in 2012, entering into a $600 million fixed-dollar collared Accelerated Stock Repurchase Agreement (“ASR Agreement”) with Barclays Bank plc. (“Barclays”) and announcing its authorization of a $5.15 per share special cash dividend. “Today's announcement underscores AOL's commitment to delivering value for our shareholders,” said AOL Chairman and CEO, Tim Armstrong. “AOL remains committed to creating and unlocking value for all shareholders through smart execution and disciplined management of our asset portfolio.” AOL has agreed to repurchase $600 million worth of common stock under the ASR Agreement, utilizing the share repurchase authorization