AOL Time Warner Settlement

The AOL Time Warner Securities Litigation Settlement

As of December 29, 2009 we have commenced the second distribution of the Net Settlement Fund and the DOJ Funds in the AOL Time Warner, Inc. Securities and "ERISA" Litigation. As you may recall, the Court ordered that 9% of the Net Settlement Sum and $10.6 million of the DOJ Funds be withheld from the original settlement distribution. The Court has now authorized the distribution of the remaining settlement funds, with the exception of $10,926,659 of the Net Settlement Sum and $576,524 of the DOJ Funds, which are to be held in reserve in order to meet any contingencies that may arise.

This second distribution has been calculated in accordance with the Court-approved Plan of Allocation, which may be found (along with other case-related information) at www.aoltimewarnersettlement.com.

Please be advised that over 750,000 Proof of Claim forms were filed with total Recognized Claims exceeding $39 billion. The amount available for the second distribution of the Net Settlement Fund and DOJ Funds is approximately $286.59 million.

For more information, call the Settlement Administrator toll - free at 877-800-7852 or via email at classact@gilardi.com