AT&T Wireless Prices $3 Billion Bond Offering.

Business Editors

REDMOND, Wash.--(BUSINESS WIRE)--April 11, 2002

AT&T Wireless (NYSE:AWE) announced today the pricing of a bond sale totaling $3 billion.

The offering consisted of three tranches: $250 million of 3-year notes were sold with a coupon of 6.875%; $750 million of 5-year notes were sold with a coupon of 7.500%; and $2 billion of 10-year notes were sold with a coupon of 8.125%. Moody's Investors Service rates AT&T Wireless' long-term debt Baa2. Standard & Poor's rates it BBB. Fitch Ratings also rates it BBB. The offering is expected to close on April 16, 2002 and is subject to customary closing conditions.

JPMorgan, Lehman Brothers and Merrill Lynch & Co. are joint bookrunners.

About AT&T Wireless

AT&T Wireless (NYSE:AWE) is the largest independently traded wireless carrier in the United States, following its split from AT&T on July 9, 2001. AT&T Wireless operates one of the largest digital wireless networks in North America. With 18 million subscribers, and full-year 2001 revenues of $13.6 billion, AT&T Wireless is committed to being among the first to deliver the next generation of wireless products and services. Today, AT&T Wireless offers customers high-quality wireless voice and data communications services in the U.S. and internationally. AT&T Wireless Customer Advantage is the company's commitment to ensure that customers have the right equipment, the right calling plan, and the right customer services options -- today and tomorrow.

This press release contains "forward-looking statements" which are based on management's beliefs as well as on a number of assumptions concerning future events made by management with information that is currently available to management. Forward-looking statements include, without limitation, management's expectations regarding: our future financial and operating performance and financial condition, including specific projections and guidance for fiscal year 2002; subscriber growth; industry conditions; the strength of our balance sheet; and our liquidity and needs for additional financing.

Readers are cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance and are subject to a number of uncertainties and other factors, many of which are outside AT&T Wireless' control, that could cause actual results to differ materially from such statements. Without limitation these factors include: the risks associated with the implementation of a third-generation network and business technology, and the effects of vigorous competition in the markets in which we operate.

For a more detailed description of the factors that could cause such a difference, please see AT&T Wireless' filings with the Securities and Exchange Commission, including the information under the heading "Additional Factors That May Affect Our Business, Future Operating Results and Financial Condition" and "Forward Looking Statements" in its Annual Report on Form 10-K filed on March 28, 2002. AT&T Wireless disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Prospectuses relating to these securities may be obtained from JPMorgan at 270 Park Avenue, New York, New York 10017, 212/270-6000, Lehman Brothers at 745 Seventh Ave New York, NY 10019, 212/526-0726, and Merrill Lynch & Co. at Four World Financial Center, New York, NY 10281, 212/449-1000. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.