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AOL acquires ADTECH AG

Fraser Finance advises ADTECH AG in its acquisition by AOL LLC

London, June 2007 - Fraser Finance has acted as financial advisor to ADTECH AG, a leading international online ad-serving company based in Frankfurt, Germany, in its acquisition by AOL LLC.

The acquisition provides AOL with an advanced ad-serving platform that includes an array of ad management and delivery applications enabling website publishers to manage, traffic and report on their online advertising campaigns. ADTECH will operate as an independent and majority-controlled subsidiary of AOL's Advertising.com division.

“AOL has incredible momentum in the online advertising space, and our acquisition of ADTECH builds on this by providing AOL with a next-generation ad-serving platform, letting us deepen our relationships with publishers in Europe and the U.S. and provide them a more complete set of solutions,” said Randy Falco, Chairman and CEO of AOL.

The ADTECH ad-serving platform differentiates itself via its scalable, enterprise-class infrastructure and publisher-friendly tools – providing intuitive and feature-rich user interfaces, superior inventory management and forecasting capabilities, and robust and flexible reporting. ADTECH works with top publishers in 25 countries. In the fall of 2006, it launched U.S. operations to manage its growing U.S. customer base.

ADTECH will continue to be based in Frankfurt. The financial terms of the acquisition were not disclosed. Further details on the transaction can be found at http://www.adtech.info

About AOL
AOL® is a global Web services company that operates some of the most popular Web destinations, offers a comprehensive suite of free software and services, runs one of the largest Internet access businesses in the U.S., and provides a full set of advertising solutions. A majority-owned subsidiary of Time Warner Inc. (NYSE:TWX), AOL LLC is based in Dulles, Virginia. AOL and its subsidiaries also have operations in Europe, Canada and Asia. Learn more at AOL.com.

About Advertising.com
Advertising.com, a wholly owned subsidiary of AOL LLC, is a global online advertising services company. The company offers a fully integrated suite of online advertising solutions, including display advertising, search engine marketing, managed affiliate placements and video advertising. These solutions are powered by Advertising.com’s award-winning optimization technology and industry-leading third-party display advertising network, which reaches more unique visitors each month than any other online property.

About ADTECH
ADTECH AG is a leading international digital marketing solutions company. Its flagship product is the Helios IQ ad serving platform, a next-generation suite of applications which enables Web publishers to manage, serve and report on their online advertising campaigns. Helios IQ allows its customers to enhance efficiency, reliability and ROI in their online advertising businesses. Founded in 1998 and with customers in 25 countries, ADTECH is an established leader in the online advertising industry.