Warner Bros. Entertainment to Release Its High-Definition DVD Titles Exclusively...

Warner Bros. Entertainment to Release Its High-Definition DVD Titles Exclusively in the Blu-ray Disc Format Beginning Later This Year

Decision Made in Response to Strong Consumer Preference for Format
BURBANK, Calif.--(Business Wire)--In response to consumer demand, Warner Bros. Entertainment will
release its high-definition DVD titles exclusively in the Blu-ray disc
format beginning later this year, it was announced today by Barry
Meyer, Chairman & CEO, Warner Bros. and Kevin Tsujihara, President,
Warner Bros. Home Entertainment Group.

"Warner Bros.' move to exclusively release in the Blu-ray disc
format is a strategic decision focused on the long term and the most
direct way to give consumers what they want," said Meyer. "The window
of opportunity for high-definition DVD could be missed if format
confusion continues to linger. We believe that exclusively
distributing in Blu-ray will further the potential for mass market
success and ultimately benefit retailers, producers, and most
importantly, consumers."

Warner Home Video will continue to release its titles in standard
DVD format and Blu-ray. After a short window following their standard
DVD and Blu-ray releases, all new titles will continue to be released
in HD DVD until the end of May 2008.

"Warner Bros. has produced in both high-definition formats in an
effort to provide consumer choice, foster mainstream adoption and
drive down hardware prices," said Jeff Bewkes, President and Chief
Executive Officer, Time Warner Inc., the parent company of Warner
Bros. Entertainment. "Today's decision by Warner Bros. to distribute
in a single format comes at the right time and is the best decision
both for consumers and Time Warner."

"A two-format landscape has led to consumer confusion and
indifference toward high definition, which has kept the technology
from reaching mass adoption and becoming the important revenue stream
that it can be for the industry," said Tsujihara. "Consumers have
clearly chosen Blu-ray, and we believe that recognizing this
preference is the right step in making this great home entertainment
experience accessible to the widest possible audience. Warner Bros.
has worked very closely with the Toshiba Corporation in promoting high
definition media and we have enormous respect for their efforts. We
look forward to working with them on other projects in the future."

Warner Bros. Home Ent. Group
Jim Noonan, 818-977-5489
or
Warner Bros. Entertainment
Susan Fleishman, 818-954-1919
Scott Rowe, 818-954-5806

Copyright Business Wire 2008