REPEAT/Spector, Roseman & Kodroff, P.C. Files Class Action Suit Against AT&T Corporation.

Business Editors/Legal Writers

REPEATING....

PHILADELPHIA--(BUSINESS WIRE)--Nov. 10, 2000

The law firm of Spector, Roseman & Kodroff, P.C. announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey against defendants AT&T Corporation ("AT&T or the "Company") (NYSE:T - news) and C. Michael Armstrong, Chairman and Chief Executive Officer of AT&T, on behalf of purchasers of the stock of AT&T between October 25, 1999 and May 1, 2000, inclusive (the "Class Period').

The action seeks damages for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Plaintiff alleges that defendants knowingly or recklessly disseminated materially false and misleading statements that misrepresented AT&T's business, operations, new acquisitions and earnings growth and its ability to achieve profitable growth. Plaintiff further alleges that, as a result of such misinformation, AT&T's stock traded at artificially inflated prices throughout the Class Period. Plaintiff alleges that defendants' materially false and misleading statements, included, among others: statements about AT&T's Concert joint venture, AT&T's Business Services corporate long-distance segment and AT&T's accelerating revenue growth made between 10/25/99 and 5/2/00 which were false due to undisclosed problems. These problems were exacerbated by AT&T's loss during 99 of two large U.S. government long-distance contracts (the FTS 2000 contracts) and a huge ($650 million per year) BP Amoco PLC contract. As a result of these negative factors, AT&T's competitive position was impaired and AT&T and Armstrong knew by 10/25/99 that AT&T's Business Services unit's revenues were being materially adversely affected.

If you purchased the stock of AT&T between October 25, 1999 and May 1, 2000, you may, no later than December 26, 2000, move the court to serve as lead plaintiff of the class, if you choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Spector, Roseman & Kodroff, P.C., or other counsel of your choice, to serve as your counsel in this action.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel Robert M. Roseman toll-free at 888-844-5862 or via E-mail at [e-mail]. For more detailed information about the firm please visit its website at http://www.spectorandroseman.com.

SPECTOR, ROSEMAN & KODROFF, P.C., located in Philadelphia, Pennsylvania and San Diego, California, concentrates its practice in complex litigation including actions dealing with securities laws, antitrust, contract and commercial claims. The firm is active in major litigation pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws. As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered on behalf of thousands of defrauded shareholders and companies.

SOURCE: SPECTOR ROSEMAN & KODROFF