AT&T Completes Sale of Advertising Solutions and Interactive Business Units to Cerberus

Dallas, Texas, May 08, 2012

AT&T* announced today that it has completed its sale of AT&T Advertising Solutions and AT&T Interactive to an affiliate of Cerberus Capital Management, L.P.

As previously announced, AT&T received approximately $750 million in cash, a $200 million note and a 47-percent equity interest in the new entity YP Holdings LLC. AT&T expects a minimal effect on 2012 earnings from the transaction and does not expect to record a material gain or loss on the transaction.