AT&T INC. — Director's Dealing 2010

Jan 5, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2009-12-31

Reporting Person: MILLER FORREST E (Grp.Pres.-Corp. Strat. & Dev.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-12-31	Common Stock	A	263.2892	$28.03	Acquired	69249.4606	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	77943	Direct
Common Stock	789.623	Indirect
Common Stock	170419	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.