Recognizing Unprecedented Success, Warner Home Video Announces A Re-Organization Of Senior Management

(February 2 2001 – Burbank, CA) – Warren N. Lieberfarb, President, Warner Home Video today announced a realignment of senior management, including a series of executive promotions. The re-organization will meet growing industry demands and recognizes the unprecedented video results, including the unparalleled growth of DVD, achieved by the division. “The new structure will maximize the effectiveness of WHV’s personnel and resources, and acknowledges the outstanding contributions made by these very talented executives,” said Warren N. Lieberfarb. “I value their expertise and their proven track records and am highly confident in their ability to manage the current and future challenges facing the home video industry.” Jim Cardwell, Executive Vice President and General Manager, North America and Australia added, “These promotions, which recognize the dedication and excellence of our management team, also reflect our commitment to the continued growth of our business.” John Quinn, a fifteen-year veteran of Warner Home Video, has taken the key global position of Executive Vice President, Supply Chain Management and Logistics. In his new role, Quinn will be responsible for all aspects of manufacturing, physical distribution and customer service as well as vendor management and inventory systems. Quinn joined Warner Home Video in 1986 as Director of National Account Sales and was promoted to Vice President, US Sales in 1988 and promoted again to Senior Vice President, US Sales in 1994. Quinn is a graduate of the University of Houston and the Kellogg School of Graduate Management. Thomas F. Lesinski has been promoted to Executive Vice President and General Manager – United States, moving up from his current position as Executive Vice President, Worldwide Marketing and Development. In his new post, Lesinski will assume responsibility for all activities in the United States, including sales, marketing, finance, administration and operations. He will report to Jim Cardwell, Executive Vice President, North America and Australia. Joining Warner Home Video in 1993 as Director of Marketing, he was promoted to Vice President, Marketing in 1995 and in 1997, promoted to Senior Vice President, Worldwide Marketing. Lesinski previously held marketing positions at Foote, Cone and Belding, Bristol Meyers and BBDO. He received his BS and MBA from Northwestern University. Lesinski’s team will include Stephen Nickerson and Mike Saksa in key positions. Stephen Nickerson has been promoted to Vice President, Sales from his current post as Vice President, DVD Worldwide Marketing, a position he has held since joining Warner Home Video in January 2000. Nickerson will now be responsible for the United States sales operations. Prior to joining Warner Home Video, Nickerson was Vice-President, Sales and Marketing at Toshiba America Consumer Products responsible for all sales and marketing across Toshiba’s various consumer electronics business units. He holds a BS in Business Administration from Drexel University. Mike Saksa will be replacing Mark Horak as head of the US Marketing team with a promotion to Vice President, US Marketing. Saksa will oversee all creative services and consumer promotions, as well as all product lines. Saksa joined Warner Home Video in 1995 as Marketing Manager and was promoted to Vice President, Marketing in 1998. Previously he held positions at Rastar Productions, Nabisco, Pillsbury and Johnson & Johnson. A graduate of Delaware University, Saksa also holds a MFA from USC and a MBA from Drexel University. Mark Horak will be joining Warner Home Video’s global infrastructure with his promotion to Senior Vice President, Worldwide Marketing. Horak will head up marketing activities for all product lines, including VHS, DVD and PPV/VOD. Horak joined Warner Home Video in 1995 as Director of Marketing and was promoted to Vice President, Marketing in 1996. Most recently he held the post of Senior Vice President – US Marketing. Prior to Warner Home Video, Horak held marketing positions at consumer package goods companies including Dole, R.J.R. Nabisco and StarKist Seafood . He holds a BBA from Loyola Marymount University received his MBA from the University of Pennsylvania, Wharton School. All promotions are effective immediately. With operations in 78 international territories – more than the video division of any other studio – Warner Home Video commands the largest distribution infrastructure in the video marketplace. Warner Home Video’s film library contains the most titles of any studio, offering top quality new and vintage titles from the repertoires of Warner Bros. Pictures, Turner Entertainment Company, Castle Rock Entertainment, HBO Home Video and New Line Home Video. # # #