AT&T Corporate Headquarters to Move to Dallas

San Antonio, Texas, June 27, 2008

AT&T Inc. (NYSE:T), the world's largest telecom company, announced today that it will move its corporate headquarters from San Antonio to Dallas to gain better access to its customers and operations throughout the world, and to the key technology partners, suppliers, innovation and human resources needed as it continues to grow, domestically and internationally.

The move will begin in the coming weeks and is expected to be complete around yearend. It is expected to involve about 700 of the company's nearly 6,000 San Antonio-based employees.

"We're a growing global company with customers and operations around the world," said Randall Stephenson, AT&T chairman and CEO. "Being headquartered in Dallas will benefit our long-term growth prospects and human resources needs, and our ability to operate more efficiently, better serve customers and expand the business in the future.

"San Antonio is a great city with much to offer and it's been good for AT&T as we've grown from primarily a five-state local phone company to the world's largest telecom company," Stephenson said. "San Antonio will continue to be a major operations and employment center for us."

Following the move, AT&T will have about 1,700 more employees in San Antonio than before it relocated its corporate headquarters to the city from St. Louis in 1992. The company's Telecom Operations group, which serves residential and regional business customers in 22 U.S. states, will remain in San Antonio.

Moving to Dallas puts AT&T's corporate headquarters near many of its key technology suppliers and other telecom companies that have major operations in Dallas, such as Alcatel-Lucent, Cisco, Ericsson, Fujitsu, Huawei, Nokia, Nortel, RIM and Samsung. The Dallas area is home to one of the country's largest communities of telecom companies, nearly 1,300 strong with 45,000 employees.

With customers and operations in all 50 U.S. states and 160 countries, air travel to and from Dallas will be more convenient, time efficient and cost effective. The DFW airport is the third largest in the U.S. and one of the top six in the world, offering daily nonstop service to 35 international and 133 U.S. destinations. Additionally, Dallas enjoys a second major airport; Love Field — the 50th largest U.S. airport — offers more than 160 nonstop flights daily.

Being headquartered near leading air transportation facilities is critical to global companies like AT&T as the airline industry continues to consolidate and reduce hubs and flights amid higher fuel prices and industry economic pressures.

Atlanta will continue to be the headquarters for AT&T's Mobility group. New Jersey will continue to be the headquarters for the company's Global Business Services group and AT&T Labs. St. Louis will continue as home to the company's Directory operations.

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. In 2008, AT&T again ranked No. 1 on Fortune magazine's World's Most Admired Telecommunications Company list and No. 1 on America's Most Admired Telecommunications Company list. 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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