AT&T Interactive

PASADENA, Calif., | Thursday, December 01, 2005

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YELLOWPAGES.COM LLC, a joint venture between the new AT&T Inc. (NYSE:T) and BellSouth Corp. (NYSE: BLS), today announced the launch of an Internet Yellow Pages (IYP) platform that marries more than 125 years of local expertise in connecting buyers and sellers with the most intuitive URL on the Web, YELLOWPAGES.COM, to deliver deeper, more relevant local advertising content to consumers.

"Today we celebrate the launch of a new YELLOWPAGES.COM site that further leverages, in the online space, the rich directory heritage of the new AT&T and BellSouth - under a brand that our research shows is the most recognized URL in local search," said Charles Stubbs, president and CEO of YELLOWPAGES.COM. "This is a significant milestone for us - and for the industry - as we remain dedicated to providing the most logical source for advertisers and consumers who are increasingly searching the Internet for local information."

AT&T Inc. and BellSouth Corp. created the joint venture and acquired YELLOWPAGES.COM in November 2004 with the goal of unifying high-volume sites SBC SMARTpages.com and BellSouth® RealPages.com into a single, innovative IYP powerhouse positioned to lead the local search category.

The new YELLOWPAGES.COM site facilitates a quicker, more meaningful connection of consumers and businesses through several innovative features:

Enhanced Search Functionality.

New site combines former SBC SMARTpages.com and BellSouth RealPages.com into new YELLOWPAGES.COM

Robust Search Results.

Users can refine search results by re-sorting by business category, business name or products/services offered, as well as expand or narrow results using various criteria. They also can assign a default search area and save business information to My YellowPages, a personal favorites list. A "click to call" feature lets consumers initiate free nationwide direct calls from the phone of their choice to selected businesses. Results also provide links to maps, driving directions, Web sites, coupons and additional areas.

Comprehensive Content.

Consumers can research products and services or find local entertainment information through Consumer Guides and City Guides, which are generated through a combination of YELLOWPAGES.COM proprietary editorial content and relationships with a collection of respected content providers.

• Consumer Guides provide information and articles closely related to search words, such as gardening tips and wedding planning checklists, to help consumers make better-informed decisions.
• City Guides offer real-time updates on local news and weather, traffic reports, sporting events, details on upcoming community events and scheduled performances, and insights into dining, nightlife and tourist points of interest.

With this launch, the company also has unveiled its new logo design, which replaces the "A" in YELLOWPAGES.COM with the well-known "walking fingers" icon that is indelibly connected to Yellow Pages directories and local consumer solutions. A multimedia advertising campaign will debut in January 2006.

Delivering Advertiser Value

More and more advertisers are including online advertising with their print media buys. The Kelsey Group - the industry's primary forecasting organization - estimates that the local search market will be a $5 billion industry.

"YELLOWPAGES.COM offers users a powerful and familiar brand online," said Greg Sterling, an analyst with The Kelsey Group. "The site should immediately benefit from the combination of product enhancements and consumer word-of-mouth."

During the past year, YELLOWPAGES.COM has focused on delivering high advertiser value through the strength of its distribution network - the fastest-growing Internet Yellow Pages network available for advertisers. A single buy on YELLOWPAGES.COM exposes advertisers to up to 70 million monthly searches. AOL Yellow Pages and Switchboard are two distribution partners announced earlier this year that extend the online reach of YELLOWPAGES.COM advertisers. Additionally, businesses can take advantage of synergies offered by complementary online-print advertising.

"Seamless integration of print and online directories is a gold standard that sets YELLOWPAGES.COM apart," said Dennis Payne, president and CEO of AT&T Directory Operations, the nation's largest print directory publisher. "Our advertisers recognize that what is seen online should reinforce what is seen in print, and vice versa, because consistency resonates with consumers. We're best-equipped to help advertisers move into the online space without muddling their message, because our sales teams engage business decision-makers in face-to-face conversations every day."

"YELLOWPAGES.COM is poised to become the IYP market leader, and leveraging the strengths of very successful print backgrounds in new and better ways will help propel us. AT&T Inc. and BellSouth, combined, publish more than 1,200 core directory titles, and this established local market strength, combined with a second-to-none sales force, are two factors that will help us reach our goal of being the long-term leader in local search," said Ike Harris, president of BellSouth Advertising and Publishing.