AT&T INC. — Director's Dealing 2011

Sep 1, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2011-08-31

Reporting Person: BLASE WILLIAM A JR (Sr. Exec. VP-Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-08-31	Common Stock	A	753.6868	$28.48	Acquired	25774.0807	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	61322	Direct
Common Stock	3470.8784	Indirect
Common Stock	73228	Indirect

Footnotes

F1: Represents shares purchased by the reporting person with automatic deductions from payroll 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.