AT&T to Build Fiber-To-The-Premises Network to Deliver U-verse Services to 20,000-Home Community in Houston Area
AT&T and General Growth Properties Complete Largest AT&T Smart Moves Contract to Date to Deliver Next-Generation Communications and Entertainment Services to 65,000 Residents of Bridgeland Planned Community Development
San Antonio, Texas, June 21, 2006
AT&T Inc. (NYSE: T) today announced an agreement with General Growth Properties to build a fiber-to-the-premises network to deliver the AT&T U-verse suite of services, which includes integrated digital TV, high speed Internet and voice services, to a 20,000-home master-planned community near Houston.
The agreement, AT&T's largest such contract to date, underscores one of the company's key strategic initiatives for connecting customers to its Project Lightspeed fiber footprint. It will enable AT&T to make Internet Protocol-based communications and entertainment services available to the estimated 65,000 residents who will move into Bridgeland, a 10,000-acre residential development currently under construction.
The Bridgeland agreement — while unique in size, scope, and approach — is one of hundreds of agreements AT&T has completed for fiber-based developments. These agreements represent more than 270,000 homes in newly planned communities across the country that have become part of the AT&T Smart Moves program.
Research underscores the demand for advanced communications and entertainment services among new homeowners: In fact, some studies show that half of new home buyers upgrade their entertainment packages and almost 70 percent buy broadband, compared with 38 percent nationwide.
"Many of today's home buyers are embracing the digital lifestyle and want advanced communications and entertainment options as soon as they move in," said Ed Cholerton, AT&T vice president and general manager for the Houston market area. "The AT&T Smart Moves program at Bridgeland is one strategic way that we are connecting customers with our next generation of services — while providing builders and developers with added value that helps differentiate their planned communities."
The first Bridgeland model homes are to open this summer with construction of the remaining residential and commercial properties to continue through 2020. The master plan for Bridgeland calls for an extensive lake and trail system and a series of distinctive bridges all designed to connect recreational, educational and cultural amenities together with employment, retail and health and fitness offerings. It will also feature a large town center area near the center of the community.
"Bringing fiber optic telecommunications to the home will make life in Bridgeland a great marriage of nature and technology. You'll connect to schools and neighbors by tree-lined walking trails while connecting to the globe through an electronic broadband pipeline with enormous technological potential for communication, entertainment and access to the Internet," said Joe Necker, vice president of development for General Growth Properties. "Internet protocol television will give Bridgeland residents the most advanced available technology for getting information and entertainment."
Since 2005, the total number of single-family homes under AT&T Smart Moves contracts has increased from about 460,000 to more than 830,000 — including those that are fiber-enabled and others that involve bundled services and other types of networking.
About General Growth Properties
Bridgeland is being developed by General Growth Properties, Inc., the second largest U.S.-based publicly traded Real Estate Investment Trust (REIT). General Growth currently has an ownership interest in or management responsibility for a portfolio of more than 200 shopping malls in 44 states, as well as ownership in planned community developments and commercial office buildings. The portfolio totals approximately 200 million square feet of retail space and includes more than 24,000 retail stores nationwide. General Growth Properties, Inc. is listed on the New York Stock Exchange under the symbol GGP. For more information, please visit the company web site at http://www.generalgrowth.com.
About AT&T Inc.
AT&T Inc. is one of the world's largest telecommunications holding companies and is the largest in the United States. Operating globally under the AT&T brand, AT&T companies are recognized as the leading worldwide providers of IP-based communications services to business and as leading U.S. providers of high speed DSL Internet, local and long distance voice, and directory publishing and advertising services. AT&T Inc. holds a 60 percent ownership interest in Cingular Wireless, which is the No. 1 U.S. wireless services provider with 55.8 million wireless customers. Additional information about AT&T Inc. and AT&T products and services is available at www.att.com.
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