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AT&T, NCR TRANSFORMING LARGEST TRANSACTION OF 1991 INTO SUCCESSFUL HIGH-TECH MERGER

 AT&T, NCR TRANSFORMING LARGEST TRANSACTION
 OF 1991 INTO SUCCESSFUL HIGH-TECH MERGER
 NEW YORK, Sept. 15 /PRNewswire/ -- One year after joining forces, AT&T (NYSE: T) and NCR Corporation said today that they are well on their way to making the merger of these two high-tech companies a success.
 NCR shareholders approved the all-stock merger transaction on Sept. 13, 1991, and the merger was completed six days later. Valued at approximately $7.5 billion, it was the largest merger of the year.
 At a news conference in New York, AT&T Chairman and CEO Robert E. Allen said, "I think one reason that this merger seems headed for success, unlike so many other mergers of high-tech companies, is that AT&T has held fast to the commitments made when we first set out to acquire NCR.
 "NCR is still NCR, it's still headquartered in Dayton, and-- most important--NCR's management is still running the show."
 NCR Chairman and CEO Gilbert P. Williamson said, "Another, and perhaps the most important reason for the merger's success, was our intense focus on our customers. Before, during, and after the merger, we kept them and their needs clearly in mind.
 "We were determined that they would be the chief beneficiaries of the merger. As a result, NCR also benefitted."
 "In many respects," Allen said, "we are just starting to exploit the potential for synergies between the two companies."
 Joint development projects are underway at NCR and AT&T Bell Laboratories in such key technology areas as audio/video compression and decompression; document processing; handwritten character recognition and signature verification; and wireless/radio frequency applications.
 Noting that customers are "already benefiting from these joint development efforts," Williamson said that Huntington Bank, based in Columbus, Ohio, is piloting advanced ATMs that offer two-way audio- visual communication between the customer and the bank. AT&T Istel and NCR Europe recently announced a pan-European Managed Digital Network Service to help European businesses cope with the complexities of international networking. Also, NCR Workstation Products Division and AT&T have introduced the first member of a family of multimedia products.
 Besides sharing technology, NCR has participated with AT&T in several sales efforts, involving customers such as J. P. Morgan, the New York Mercantile Exchange, Invesco, and Huntington Bank.
 The two companies announced that they had agreed to merge on May 6, 1991. The consolidation of NCR and AT&T Computer Systems began immediately, and a product integration plan was announced in mid-June, a mere five weeks after the merger was agreed upon.
 Attributing the rapid integration to the basic compatibility of the two companies' technology strategies, Williamson said:
 "Both companies were committed to the idea of open systems. As a result, the strategic fit of our products enabled us to continue in the direction we had established in the areas of microprocessor-based computing, client/server computing, and parallel procesing.
 "In particular," he said, "the integration of AT&T's computer networking hardware and software into NCR's product line significantly enhanced the breadth and depth of NCR's enterprise-wide networking capabilities."
 According to International Data Corporation, AT&T's NCR is the world's largest commercial UNIX systems vendor, with 13.8 percent of total 1991 shipments. And, as a result of its recent merger with Teradata Corporation, NCR is also the leading supplier of commercial, massively parallel processing systems.
 Acknowledging AT&T's earlier financial losses in the computer business, Allen said, "Now we have a computer business that, despite the current weakness in the industry, is contributing to our earnings and providing value to our shareowners."
 Williamson said, "No other company is better positioned to take advantage of the convergence of computers and communications. And, no other company is better positioned to deliver the benefits of a new way of computing."
 NCR is a registered trademark of NCR Corporation.
 UNIX is a registered trademark of UNIX System Laboratories, Inc.
 -0- 9/15/92
 /CONTACTS: Lynn Frye of NCR, 513-445-2033 (office), or 513-294-4340 (home); or Andrew Myers of AT&T, 908-221-2737 (office), or 908-522-9485 (home)/
 (T) CO: AT&T; NCR Corporation ST: New Jersey, Ohio IN: TLS SU:


AH -- NY033 -- 9687 09/15/92 14:00 EDT
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Date:Sep 15, 1992
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