Netscape and America Online in Merger Discussions

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, California.

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

Netscape, Netscape Navigator, Netscape Certificate Server, Netscape ONE, Netscape SuiteSpot, and the Netscape N and Ship's Wheel logos are registered trademarks of Netscape Communications Corporation in the United States and other countries. Other Netscape logos, product names and service names are also trademarks of Netscape Communications Corporation, which may be registered in other countries. Other product and brand names are trademarks of their respective owners.