THE NATIONAL TELEVISION ACADEMY TO PRESENT THE PRESTIGIOUS TRUSTEES AWARD TO RICHARD D. PARSON, CHAIRMAN AND CEO OF TIME WARNER INC.; HONORARY DINNER TO BE HELD IN LOS ANGELES

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THE NATIONAL TELEVISION ACADEMY TO PRESENT The Prestigious Trustees Award To
Richard D. Parsons, Chairman and CEO Time Warner Inc.

Honorary Dinner to be held in Los Angeles June 3, 2004

NEW YORK –June 2, 2004 - The National Academy of Television Arts and Sciences announced it will present one of its most prestigious awards, the Trustees Award to Richard D. Parsons, Chairman and CEO of Time Warner Inc. Mr. Parsons joins such luminaries as William Paley, Walter Cronkite, and President John F. Kennedy, among others, in receiving this award.

“Dick Parsons personifies the extraordinary caliber of person deserving of the Academy’s highest honors,” said Peter O. Price, President of The National Television Academy. “Not only has he distinguished himself as a successful chief executive of a growing global enterprise, but he has at the same time managed to invest himself personally in matters of moment to his colleagues and his community. We welcome both friends and professional associates to join us in Los Angeles for this well deserved tribute.”

The presentation will be made at the National Television Academy’s Annual Trustees Meeting during an honorary dinner at the Los Angeles County Museum of Art (LACMA) on June 3, 2004. Leading government officials and television industry executives from around the world are expected to attend. CNN’s Larry King will be hosting the event and introducing actress Amanda Bynes who will be presenting Mr. Parsons with the award.

Mr. Parsons became Time Warner’s CEO in May 2002 and Chairman of the Board in May 2003. He joined Time Warner as its President in February 1995 and later became the company’s Co-Chief Operating Officer. Mr. Parsons has been a member of the company’s Board of Directors since January 1991. Before coming to Time Warner, he was Chairman and Chief Executive Officer of Dime Bancorp, Inc. and the managing partner of the New York law firm Patterson, Belknap, Webb & Tyler. Previously, Mr. Parsons held various positions in state and federal government, as counsel for Nelson Rockefeller and as a senior White House aide under President Gerald Ford. He received his undergraduate education at the University of Hawaii and his legal training at Union University’s Albany Law School. Mr. Parsons is Chairman of the Apollo Theatre Foundation, and also serves on the boards of Citigroup, Estee Lauder, the Colonial Williamsburg Foundation, the Museum of Modern Art and Howard University.

The National Television Academy, whose total dedication is excellence, is a professional service organization for all aspects of the Television, Cable and Satellite industries. Its symbol of excellence, the Emmy®, is awarded in six major national categories including Sports, News/Documentary, Daytime, Technology, Public/Community Service and International (through its International Academy). Local Emmy®s are given in nineteen regions across the United States. Beyond awards, the Academy has extensive educational projects, scholarships, publications, and major activities of impact to both industry professionals and the viewing public itself. For more information, please visit the website at www.Emmyonline.tv.