AT&T INC. — Director's Dealing 2010

Mar 2, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2010-02-26

Reporting Person: WILKINS RAYFORD JR (CEO-AT&T Diversified Bus.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-02-26	Common Stock	A	633.6156	$24.81	Acquired	29623.5375	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	273834.3773	Direct
Common Stock	7331.609	Indirect
Common Stock	5.4948	Indirect
Common Stock	624.8366	Indirect

Footnotes

F1: Automatic purchase of shares by the reporting person with payroll deductions and, to a limited extent, company matching contributions, in the form of deferred stock units settled only in stock on a 1-for-1 basis as provided for in the plan.

F2: Includes 10.6580 shares acquired on 2/1/2010 at a price of $25.5291 through reinvested dividends under dividend reinvestment plan.

F3: Includes .0842 shares acquired on 2/1/2010 at a price of $25.5291 through reinvested dividends under dividend reinvestment plan.