BERTELSMANN FOUNDATION AND AOL TIME WARNER FOUNDATION TO HOST 21ST CENTURY LITERACY SUMMIT IN BERLIN MARCH 7-8 German Chancellor Gerhard Schröder, Spanish Prime Minister Jose Maria Aznar, AOL Time Warner Chairman Steve Case and Bertelsmann Foundation V

The Bertelsmann Foundation and the AOL Time Warner Foundation will host the 21st Century Literacy Summit in Berlin on 7 and 8 March. The aim for the summit is to explore the meaning of literacy in the Information Age and how it can be integrated into public policy, education systems and the commercial environment. Madeleine Albright, former U.S. Secretary of State is among featured speakers at the conference.

Gütersloh, Germany and New York, NY, February 20, 2002 -- The Bertelsmann Foundation and the AOL Time Warner Foundation today announced they will host the 21st Century Literacy Summit in Berlin on 7 and 8 March. The challenges of the digital age and its implications for a new literacy in all areas of society will be examined at the jointly hosted conference at the axica Congress Centre.

The aim for the summit is to explore the meaning of literacy in the Information Age and how it can be integrated into public policy, education systems and the commercial environment. A White Paper with practical applications on developing new literacy in each of these areas will be presented at the conference.

Keynote speakers, including German Chancellor Gerhard Schröder, Spanish Prime Minister Jose Maria Aznar, AOL Time Warner Chairman Steve Case and Bertelsmann Foundation Vice Chairman Gerd Schulte-Hillen, will explore how new and future technologies will change the way we work, learn and interact. European and U.S. leaders in academia, technology, business and government will examine current efforts taking place to meet this challenge through education and training.

Featured speakers at the conference will include Madeleine Albright, former U.S. Secretary of State and founder of The Albright Group LLC, a global strategy firm; European Commission Members Viviane Reding, Director General of Education and Culture, and Erkki Liikanen, Director General of Enterprise and Information Society; and Harold O. Levy, Chancellor, New York City Board of Education. Keynote and panel presentations will be supported by an international research study undertaken by the two foundations.

At the conclusion of the conference, Kathy Bushkin, President, AOL Time Warner Foundation, and Ingrid Hamm, Head, Media Division, Bertelsmann Foundation, will report on key recommendations and discuss the White Paper. The latest schedule and complete list of speakers is accessible at the conference website at http://www.21stcenturyliteracy.org or AOL Keyword: 21st Century Literacy Summit.

Gerd Schulte-Hillen, Vice-Chairman, Executive Committee of the Board, Bertelsmann Foundation, said: "Society in the 21st Century is undergoing rapid change as it shifts to a knowledge-based society. As the amount of information available continues to increase, the skills needed to access and process this information will need to keep pace. It is critically important to identify, develop and promote a 'new literacy' for the new century so that the broadest segment of the population can take full advantage of this transition."

Steve Case, Chairman, AOL Time Warner Inc., and Chairman, AOL Time Warner Foundation, said: "Both of our foundations see extraordinary opportunities for the Internet and media to improve our society on many different levels. Therefore, we have put a special emphasis on ensuring that all people acquire the skills that are necessary to successfully face the challenges of our digital age. We hope that the 21st Century Literacy Summit will be an important step in bringing the international community together to develop an effective roadmap towards reaching these goals."

The 21st Century Literacy Summit represents the first in a series of newly established 'transatlantic dialogues organised by the Bertelsmann Foundation and the AOL Time Warner Foundation to identify and examine the impact and implications of the Information Age on modern society.

Notes to Editors

1. For the most up-to-date program please visit http://www.21stcenturyliteracy.org. or AOL Keyword: 21st Century Literacy Summit.

2. 21st Century Literacy" as used here encompasses the use of information technology and the Internet in all areas of modern society, including education, business and public policy. "New literacy" includes the ability to use new technology, to critically assess and understand content, to creatively leverage digital media and to help shape social communication and interaction. Although new technologies have already transformed the way we work, learn and interact, future technologies in this century will be a force for even greater change in these areas.

3. About the Bertelsmann Foundation
The Bertelsmann Foundation aims to examine societal problems, develop effective solutions with scientific experts and practitioners, and implement these models in select areas of society. The Bertelsmann Foundation defines itself as an operating foundation working conceptually, formulating and initiating its own projects and managing their practical implementation. In doing so, the Bertelsmann Foundation cooperates closely with partners in scientific, state and private institutions.

The Bertelsmann Foundation continues the traditional socio-political, cultural and social commitment of the founding Bertelsmann and Mohn families and was also designed to ensure the continuity of the Company. To this end, Reinhard Mohn transferred the majority of his capital shares in Bertelsmann AG - without voting rights - to the Bertelsmann Foundation. In the 2000/2001 fiscal year, the Foundation budget exceeded Euro 54 million. The Foundation currently employs 280 people who are active in some 180 projects.

4. About the AOL Time Warner Foundation
The AOL Time Warner Foundation seeks to use the power of media, communications and information technology to serve the public interest and strengthen society. The Foundation engages the full range of AOL Time Warner's unique resources to build innovative and sustainable programs in four priority areas: Equipping Kids for the 21st Century; Extending Internet Benefits to All; Engaging Communities in the Arts; and Empowering Citizens and Civic Participation.

The AOL Time Warner Foundation was founded on January 12, 2001, the day the Company was established through the merger of AOL and Time Warner. The Foundation Board is chaired by Steve Case, Chairman of AOL Time Warner, and includes representatives from each of the Company's business divisions. For more information, please visit the AOL Time Warner Foundation website at http://www.aoltwfoundation.org.

CONTACTS:

For the Bertelsmann Foundation:
Dr. Marcel Machill
+ 49 5241 81-81350
marcel.machill@bertelsmann.de

For the AOL Time Warner Foundation:
Suzanne Prance (UK)
Hill & Knowlton UK
+ 44 207 413 3762
suzanne.prance@hillandknowlton.com

Jeff McAndrews (U.S.)
+ 1 212 484 7649
jffmcandrew@aol.com

John Ullyot (Germany)
+ 49 40 361 597 600
johnnyu@aol.com