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Benefits Summary | January 2008

A Look at AT&T's Employee Benefits

Every day, AT&T delivers an unsurpassed portfolio of services to millions of customers around the globe. Because none of this would be possible without the dedication and hard work of AT&T's talented employees, the company offers one of the industry's most comprehensive and competitive benefits packages to help employees reach their personal and career goals. Our offerings provide our employees with the flexibility and choices they need to make the best decisions about their family's health, financial and home-life needs. This summary provides a look at the benefits currently available to new employees of AT&T. ALL AT&T COMPANIES ARE EQUAL OPPORTUNITY/AFFIRMATIVE ACTION COMPANIES

IMPORTANT: Certain employee groups are not eligible for all of the plans and/or programs listed. This document serves as a high-level preview of the benefits plans and programs that AT&T offers. Depending upon your date of hire, applicable bargaining contracts and other variables, the benefits plans and/or programs you will be eligible to participate in will vary.

NIN: 78-11954

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General Benefits

New employees and their dependents are eligible to participate in medical, dental and vision benefits. A monthly contribution, copayment, coinsurance and/ or deductible may be required for the plans.

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Medical coverage is an important part of Prescription employees' total compensation and helps Medical Vision Dental Drugs General Benefits pay for necessary medical care, including medical/surgical and behavioral General Benefits health services. The company may also offer health maintenance organizations (HMOs) in certain areas.

CarePlus Long-Term Care Flexible Spending Accounts

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Vision coverage is a company-subsidized benefit to help pay for eye exams, Disability eyeglasses, contact lenses and frames. In addition, referrals to providers who perform laser vision correction procedures at a discounted price are available. Vision benefits are offered separately from the medicalSpending options. Employee Assistance Employee Assistance Flexible programMental Health/

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Disability Dental Drugs Employees who are absent from work as a supplementalVision medical program that result of a qualifying illness or injury may provides financial protection against the General Benefits General Benefits receive short- or long-term disability high cost of certain medical procedures such as benefits as a continuing source of income. of experimental or investigational cancer therapies, Leave of Leave Savings Plans Pension Life Insurance Savings Plans Absence Pension Life BeneficiaryInsurance Absence Paid Time Off Paid Time Off cardiac/vascular procedures, and surgical procedures/treatments, generally not covered by Leave of Savings Pension Life Insurance Beneficiary Paid Flexible Spending Time Off Mental Health/Absence Employee Assistance mostPlans health plans. CarePlus Long-Term Care CarePlus Long-Term Care Accounts Flexible Spending Accounts Chemical Dependency Plan Mental Health/ Employee Assistance Chemical Dependency Plan

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AT&T Employee Assistance Plan (EAP)

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The EAP provides employees and their Prescription Disability Dental Drugs families with professional and confidential assessments and referrals. The EAP offers Dental coverage is an important part of Product Concessions Tuition Aid Adoption Commuter Product Concessions Tuition with marriage, family and relationship Adoption Commuter Voluntary Benefits Voluntary LifeCare employees' total compensation and helps Benefits helpAid problems; alcohol and drug-abuse problems; and pay for necessary dental care, including emotional,LifeCare personal and stress-related problems. expenses for routine cleaning, oral examinations, Product Concessions Tuition Aid Adoption Commuter Leave of Voluntary Benefits Savings Plans Pension Life Insurance Absence Beneficiary Paid Time Off fluoride treatments and X-rays, as well as many Leave of Savings Plans Pension Life Insurance Absence Beneficiary Paid Time Off basic and major restorative services.

Prescription Drugs Disability Medical

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Employees may elect to purchase longExpats term care insurance that provides employees and their eligible family members with access to extended care when a Commuter covered individual has an ongoing illness or LifeCare Commuter LifeCare disability and cannot care for himself or herself. Coverage is designed to help pay for qualified Leave of Pension Life Insurance Absence Paid Time Off expenses related to nursing home care, assisted living, home health care and adult day care.

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Pension Plan

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Commuter Benefit

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A pension plan funded entirely by AT&T is CarePlus provided to eligible employees and, Long-Term Care along with the AT&T 401(k) savings plan, helps employees' build a secure financial future.

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Flexible Spending Accounts

The Commuter Benefit Program is an Mental Health/ Employee Assistance Chemical transportation-related benefit Plan optionalDependency that lets employees pay for certain costs associated with public transportation, vanpools Wellness Web site Expats and work-related parking with before-tax money deducted from their paycheck.

Beneficiary

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Savings Plan ­ 401(k)

Savings Plans Tuition Aid Pension Adoption

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The company offers employees a Savings Plans Pension convenient way to save for retirement. To help build savings, employees can: · Save a portion of their eligible compensation on a pre-tax basis and/or on ancompensation basis. Web site stock options shares of stock workers after-tax Wellness · Become eligible to receive a company-matching contribution.

Voluntary Benefits Tuition Aid Adoption Product Concessions

Life Insurance

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Paid Time Off

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Voluntary Benefits

Tuition Aid

Active employees are automatically covered for employer-paid basic-life Expats insurance, accidental death or dismemberment and seat belt incentive insurance at no cost to them. In addition, they may elect to Commuter LifeCare purchase additional life insurance for themselves and/or dependent life insurance for their Product Adoption Commuter LifeCare spouses/legally Concessions recognized partners and children.

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Distribution Candidates interested in a position with AT&T (excluding AT&T Technical Services Company, Inc. and/or AT&T Government Solutions, Inc.)

DISCLAIMER This document was written for easy readability. Therefore, it may contain generalizations and informal language, such as "AT&T employees," rather than the precise legal terms. Also, this document only summarizes benefits, and individual situations may vary. For full details, including eligibility, you should consult the summary plan descriptions, summaries of material modifications, company policies and guidelines or the official plan documents. In all cases, the official plan documents and company policies govern and are the final authority on the terms of the plans and programs. AT&T reserves the right to terminate or amend any and all benefits plans, policies and programs. Participation is neither a contract nor a guarantee of future employment.

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Adoption Reimbursement Program

This program reimburses employees for certain costs associated with the legal adoption of a child.

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AT&T provides paid time away from work for its employees to relax and recharge; it includes vacation, holidays and personal Employee Assistance Mental Health/ days.

Plan

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Tuition Aid Policy

Tuition Aid Adoption

Product Concessions

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AT&T offers Voluntary Benefits Tuition Aid to Adoption tuition reimbursement support eligible employees in their Disability workers compensation Wellness Web site Expats professional development. These funds can be used to help cover the cost of companyapproved qualifiedstock stock options shares of expenses. compensation workers Wellness Web site

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Employees have access to educational 06 20 07 materials and referral services for child 20 08 20 care and parenting, legal- and financialplanning, health and wellness and elder care. Tuition Aid Adoption Voluntary Benefits Voluntary Benefits There is also a special discount section for various products and services.

In addition to company-sponsored benefits plans, AT&T offers eligible employees access to a group of discounted products and services including auto/ Leave of Expats Absence Paid Time of stock workers homeOff insurance, Wellness Web shares Beneficiary Expats compensation veterinary pet insurance, accident workers compensationstock options site insurance, cancer insurance, financial-planning service and legal service. You can work directly with an outside vendor to enroll for these benefits.

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Product Concessions

Employee Concessions and Preferred Customer Discounts

Commuter LifeCare

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Leave of Absence

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Prescription Beneficiary Drugs

Disability stock options

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AT&T offers various paid and unpaid leaves of absence, subject to advance approval, for certain needs, including family care and personal leaves.

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Flexible Spending Accounts Commuter

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Participating in the Health Care Flexible Spending Account and/or Dependent Care Flexible Spending Account is an easy way to set aside dollars on a tax-advantaged basis for eligible anticipated Expats out-of-pocket health care Wellness Web site costs, such as prescription drugs, doctor's office visits, medical procedures, over-the-counter Leave of Life Insurance Absence Beneficiary Paid Time Off medications, dental and vision expenses and/or dependent care expenses incurred throughout the year.

AT&T wants to help its employees better understand the value of its product and service offerings so that they may recommend them to their families, friends and business associates. As an active AT&T employee, workers compensation Wellness Web site Expats you may be eligible for certain telephone concessions and discounts on AT&T branded products and services. The company provides eligible participants with discounts on many of its popular products and services, such as Wireless services from AT&T, AT&T Yahoo! High Speed Internet service, AT&T Yahoo! Dial-up Internet service, AT&T U-verse TV service, AT&T | DISH Network satellite television service (only where these products and services are available), as well as local and long distance telephone services.

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Adoption

Product Concessions

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LifeCare

Information

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