Allianz of America Signs Four-Year Contract with AT&T for Managed Network Services

Novato, California, October 17, 2007

AT&T Inc. (NYSE: T) has announced that Allianz of America (AZOA), parent company of Fireman's Fund Insurance Company and Allianz Life Insurance Company of North America, has signed a new four-year managed network services agreement with AT&T, valued in excess of $70 million dollars.

AT&T currently provides managed network services to Fireman's FundĀ®. The expanded business relationship extends services to Allianz Life and includes the flexibility to integrate additional Allianz operating entities in the future. While improving the service that is available to both companies, the scale of the new contract allows Fireman's Fund and Allianz Life to achieve significant synergy savings on their telephone network services.

"We are very pleased with the flexibility of AT&T to customize network solutions to meet the business requirements of AZOA's new shared-services organization," said Oliver T. Bussmann, AZOA chief information officer. "This is essential in all of our relationships. AT&T met the exceptional price/performance ratios that are critical to success with Allianz."

As a result of this expanded relationship between the two companies, AZOA will accelerate its plans to use a converged Internet Protocol network infrastructure. AT&T will deliver improved network performance, enhanced application distribution and access as well as significant operational benefits.

The agreement includes AT&T's full portfolio of managed services: local area network, Multiprotocol Label Switching wide area network, Internet Protocol telephony, security, Internet, remote access and mobility management network services.

"We look forward to complementing and expanding the breadth of industry-leading capabilities and technologies of AZOA's new shared IT services business initiative," said John Finnegan, AT&T senior vice president, Global Enterprise Business Sales. "AZOA's business model sets high standards for innovation, operational efficiencies and improved customer service."

The agreement renews and expands a long-standing relationship between the two companies that spans more than three years.

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About Allianz of America
Allianz of America (AZOA), based in Novato, Calif., is the parent of Fireman's Fund Insurance Company and Allianz Life Insurance Company of North America. AZOA is a member of the Allianz Group (NYSE: AZ), one of the world's largest providers of insurance and financial services.

About AT&T
AT&T Inc. (NYSE:T) is a premier communications holding company. Its subsidiaries and affiliates, AT&T operating companies, are the providers of AT&T services in the United States and around the world. Among their offerings are the world's most advanced IP-based business communications services and the nation's leading wireless, high speed Internet access and voice services. In domestic markets, AT&T is known for the directory publishing and advertising sales leadership of its Yellow Pages and YELLOWPAGES.COM organizations, and the AT&T brand is licensed to innovators in such fields as communications equipment. As part of its three-screen integration strategy, AT&T is expanding its TV entertainment offerings. Additional information about AT&T Inc. and the products and services provided by AT&T subsidiaries and affiliates is available at www.att.com.

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