"AOL this month debuted in beta form a stand-alone e-mail client bundled with a new version of AOL Instant Messenger and an address book, a package collectively dubbed AOL Communicator.
Code-named Photon, Communicator has been in development for close to two years, although AOL has made no decisions on how to market the product. But sources say a faction of the company is pushing for Communicator to succeed Netscape, which has all but disappeared from users' screens."

More from Eweek.com here.

Netscape may not be as popular, but its new version 7.0 is a very good product. I just don't see how an Email client would replace a browser though? Maybe it meant to replace Netscapes email client?