Connecting People on the Most Reliable Network

Agenda
Company Overview Current Corporate Initiatives Competitive Positioning Jamie Mettenbrink
VP Human Resources

Scott Ohara

VP Marketing

Product Innovation and Development Financial Status Stock Price History

Jing Li
VP Technology

Liu Lu
VP Finance

Company Overview

History

1929 (7 Baby Bells) Bellsouth, Cingular Wireless, Yellowpages.com

Operating Markets

Wireline and Wireless Telecommunications Advertising and Publication

Economic Standing

#1 Most Admired Telecommunications Company in U.S. and World (Fortune Magazine, 2008)

Current Corporate Initiatives

Management Reorganization

Speed up product introduction Four divisions: consumer, business, infrastructure and diversified products

Sustainability

Reducing environmental impact of operations Helping customers reduce their environmental impact Applying innovation and technology to help society

Global Network

Connect wireline, broadband and wireless telecommunication services worldwide

Competitive Positioning
- iPhone

AT&T Exclusive Innovative Technology

Exclusive carrier of 3G iPhone

Touch-screen interface, 3G Network Capable, Wi-Fi

Apple App Store

Topped 10,000 applications in December 2008 and over 300 million total downloads

Competitive Positioning
- 3G Network

Exceptional Coverage

Deployment covering 324 U.S. markets in 41 states

Industry Leading Speed

Fastest rated network among U.S. competitors (Verizon, Sprint)

HSPA Enabled

Network Coverage 3G Network Coverage

Exclusive U.S. carrier of HSPA enabled 3G network

Competitive Positioning
- U-Verse Technology

Service Deployment
Network now has ability to reach 14 million existing units

Outstanding Reviews

J.D. Power and Associates ranked the service highest in customer satisfaction in the North, Central, South, and West U.S. regions

Product Innovation and Development

- Telehealth

Broadband Monitoring

At-home monitoring capability for chronic illness patients

Apointment Decrease Cost Benefits

OV 43%, ER 33%, Hospital 29%

Reduce U.S. healthcare costs by 25%, $350 billion, over next 25 years

Financial Status

Revenue Expense Net Income

Quarterly Operating Results

4Q 2006 3Q 2008

Segmented Revenue
2007

Stock Price History

- 5-Year History -

Stock Price

Dividend

$28.18 (end of day Dec12)

$1.60 Annual

Summary

Commitment to Sustainability

Applying innovation and technology to help society

Competitive Positioning

U-Verse iPhone 3G

Innovation and Development

Telehealth

Financial Strength

7% growth 2008, 9% growth 2009

Connecting People on the Most Reliable Network