AT&T INC. — Director's Dealing 2011

Nov 2, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2011-10-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-10-31	Common Stock	A	1114.8707	$29.31	Acquired	57688.9709	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	123190	Direct
Common Stock	1748.9435	Indirect
Common Stock	170419	Indirect
Common Stock	85	Indirect

Footnotes

F1: Represents shares purchased by the reporting person with automatic payroll deductions and partial company matching contributions in the form of deferred stock units settled only in stock on a 1-for-1 basis.