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“T” Will Return to Dow 30 After 20-Month Absence
NEW YORK, Nov. 30, 2005 — One of the most-recognized ticker symbols in the global investment community will return to the Dow 30 tomorrow as the new AT&T begins trading under the legendary “T” symbol on the New York Stock Exchange.
The decision to adopt the “T” ticker symbol reflects both the rich heritage of the combined enterprise as well as its commitment to lead the next major shift in communications technology — the transformation to integrated solutions based on Internet Protocol.
“Our stockholders can be confident that we will maximize the unique opportunities we have as a combined enterprise to deliver great value and lead the industry forward,” said Edward E. Whitacre Jr., chairman and CEO of AT&T Inc.
“Our commitment to innovation, combined with an outstanding record of execution and excellent financial strength, strongly position the new AT&T to lead our industry in the years ahead,” said Whitacre.
The “T” symbol is widely recognized by investors. It also is closely associated with the AT&T brand, which is far and away the most-recognized communications brand in the U.S. and around the globe, according to research.
The “T” symbol was used by AT&T Corp. before its acquisition by SBC Communications Inc. AT&T Corp. was a member of the Dow 30 until April 2004. SBC, which changed its name to AT&T Inc. after the transaction closed Nov. 18, had traded under the “SBC” ticker symbol. SBC had been included in the Dow 30 listing, long considered an important barometer of the stock market, since November 1999.
At the time of their creation, single-letter ticker symbols, such as the “T,” were assigned to the stocks that were most widely traded. These single-letter symbols reduced the number of characters that had to be printed by the stock ticker and thereby avoided tape delays. AT&T Corp. was historically among the most widely held stocks in America. The new AT&T has approximately 3.9 billion shares outstanding and a market capitalization of approximately $98 billion.
The “T” ticker symbol was first used by American Bell, the predecessor of American Telephone and Telegraph Company, in 1888 on the Boston Stock Exchange. In 1901, American Telephone and Telegraph, which later became AT&T, started trading under the symbol “ATT” on the New York Stock Exchange, and it adopted the “T” symbol in 1930. The “SBC” stock ticker symbol dates back to 1984, following the creation of Southwestern Bell Corporation after divestiture by the original AT&T.
The new AT&T will provide details on its operational plans along with an updated financial outlook for the company, including expected synergies, at an investor conference in New York City on Jan. 31, 2006.
About the New AT&T
AT&T, Inc. is one of the world’s largest telecommunications holding companies and is the largest in the United States. Operating globally under the AT&T brand, AT&T companies are recognized as the leading worldwide providers of IP-based communications services to business and as leading providers in the United States of high-speed DSL Internet, local and long-distance voice, and directory publishing and advertising services. AT&T, Inc. holds a 60 percent ownership interest in Cingular Wireless, the No. 1 wireless services provider with more than 52 million wireless customers. Additional information about AT&T, Inc. and AT&T products and services is available at www.TheNewATT.com.