MOUNTAIN VIEW, Calif. (November 23, 1998) — Netscape Communications
Corporation (NASDAQ: NSCP) today confirmed that it is in negotiations with
America Online, Inc. (NYSE: AOL) regarding a proposed merger; however, no
agreement has been reached. The discussions involve a stock-for-stock,
pooling-of-interests transaction in which stockholders of Netscape would
receive 0.45 shares of AOL common stock for each share of Netscape common
stock. There can be no assurance that an agreement will be reached or a
transaction consummated.

Netscape expects to release its financial results for fiscal quarter and
year ended October 31, 1998 on Tuesday, November 24, at 2:00 p.m. Pacific
Standard Time.

Netscape Communications Corporation is a leading provider of software and
services for businesses that want to transform the way they create and keep
customers in the emerging Net Economy. The company offers a full line of
enterprise software solutions, professional services, and a leading
Internet portal to help companies build, buy or outsource Internet
applications that drive revenue growth, build customer loyalty, and create
new levels of business efficiency. Traded on NASDAQ under the symbol
“NSCP,” Netscape Communications Corporation is based in Mountain View,

Additional information on Netscape Communications Corporation is available
on the Internet at, by sending email to or by calling 650/937-2555 (corporate customers) or
650/937-3777 (individuals).

Media: Rosanne Siino,
Quincy Smith, 650-937-3757