Go get the greensock tweening platform:
http://www.greensock.com/tweennano/. Put the "com" folder next to your .fla.
Then to tell something to fade out over a specified amount of time, you'd do something like:
ActionScript Code:
//Since you're making a web banner, we use the TweenNano class which is the smallest in size
import com.greensock.TweenNano;
rulesBtn.onClick = function () {
TweenNano.to(text02_mc, 0.5, {_alpha:0}); //Tweens the object to alpha 0, over 0.5 seconds
TweenNano.to(text03_mc, 0.5, {_alpha:0}); //Tweens the object to alpha 0, over 0.5 seconds
TweenNano.to(disclaimer_mc, 0.5, {_alpha:100}); //Tweens the object to alpha 100, over 0.5 seconds
}