SBC AT&T Inc.

SBC Communications Inc. (NYSE: SBC) announced today it will issue a total of $2 billion of debt that will be used for general corporate purposes, including repayment of a portion of the company's commercial paper borrowings. SBC will issue $500 million of three-year, floating-rate notes at an initial interest rate of 4.52 percent (the three-month LIBOR rate plus 21 basis points); $1 billion of five-year, fixed-rate notes with an interest rate of 5.30 percent and an issue price of 99.809; and $500 million through the reopening of a debt issue made in October 2004 that matures in 2034 and carries a coupon rate of 6.15 percent, with an issue price of 96.833. SBC Communications Inc. is a Fortune 50 company whose subsidiaries, operating under the SBC brand, provide a full range of voice, data, networking, e-business, directory publishing and advertising, and related services to businesses, consumers and other telecommunications providers. SBC holds a 60 percent ownership interest in Cingular Wireless, which serves more than 52 million wireless customers. SBC companies provide high-speed DSL Internet access lines to more American consumers than any other provider and are among the nation's leading providers of Internet services. SBC companies also offer satellite TV service. Additional information about SBC and SBC products and services is available at www.sbc.com. Cautionary Language Concerning Forward-Looking Statements Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in SBC's filings with the Securities and Exchange Commission. SBC disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.