AT&T and UPromise Join Forces to Make Saving for College Easier.Business & Technology Editors BASKING RIDGE, N.J. & BROOKLINE, Mass.--(BUSINESS WIRE)--Jan. 22, 2001 Joining forces to make saving for college easier, AT&T and UPromise, Inc. today announced that AT&T is a cornerstone partner in the UPromise college savings network. AT&T customers who enroll in UPromise can receive a percentage of their monthly spending on qualifying AT&T residential long distance services as a contribution into a college savings account Savings Account A deposit account intended for funds that are expected to stay in for the short term. A savings account offers lower returns than the market rates. Notes: . AT&T customers can choose to direct their UPromise savings toward their own children, grandchildren GRANDCHILDREN, domestic relations. The children of one's children. Sometimes these may claim bequests given in a will to children, though in general they can make no such claim. 6 Co. 16. , or another child's UPromise college savings account. "We are thrilled to be working with UPromise on this creatively simple way to help our customers. All they have to do is talk on the telephone and they automatically get one step closer to putting their kids through college," said Howard E. McNally, copresident of AT&T's consumer services Consumer Services refers to the formulation, deformulation, technical consulting and testing of most consumer products, such as food, herbs, beverages, vitamins, pharmaceuticals, cosmetics, hair products, household cleaners, [paints, plastics, metals, waxes, coatings, minerals, unit. "This significant benefit delivers on our commitment to higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. in America and will deepen deep·en tr. & intr.v. deep·ened, deep·en·ing, deep·ens To make or become deep or deeper. deepen Verb to make or become deeper or more intense Verb 1. our relationships with current customers and help us attract new ones." "As a UPromise cornerstone partner, AT&T has made an important commitment to helping its customers realize their dream of a college education for their children," said Michael Bronner, chairman and chief executive officer of UPromise. "Together with AT&T, we will change the way America's families save for college." The UPromise service will be available to consumers nationwide early this spring. About AT&T AT&T Corp. (www.att.com http://www.att.com/) is among the world's premier voice, video and data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. companies. With annual revenues of more than $62 billion and 160,000 employees, AT&T provides services to customers worldwide. Backed by the research and development capabilities of AT&T Labs, the company runs the world's largest, most sophisticated communications network The transmission channels interconnecting all client and server stations as well as all supporting hardware and software. and has one of the largest digital wireless networks in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . The company is a leading supplier of data and Internet services for businesses and offers outsourcing, consulting and networking-integration to large businesses. Through its recent cable acquisitions, AT&T delivers broadband video, voice and data services to customers throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Internationally, Concert, the AT&T/BT Global Venture, serves the communications needs of multinational companies and international carriers worldwide. The foregoing are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " which are based on management's beliefs as well as on a number of assumptions concerning future events made by and information currently available to management. 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's control, that could cause actual results to differ materially from such statements. For a more detailed description of the factors that could cause such a difference, please see AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results of AT&T. About UPromise UPromise is a savings network committed to making college more affordable for families. In partnership with America's most trusted companies, UPromise helps families accelerate their college savings. An affiliated non-profit entity, the UPromise Education Foundation, helps lower-income students and their families afford a college education. The Foundation is funded in part by UPromise's founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Michael Bronner and president and COO Jeff Bussgang, who are contributing the majority of their equity in the company. UPromise began operations in January 2000 and is based in Brookline, Mass. The UPromise service will be nationally available early in 2001. For more information, visit www.upromise.com http://www.upromise.com or call 617-582-1400. |
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