AT&T INC. — Director's Dealing 2011

May 25, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AT&T INC. (T)
CIK: 0000732717
Period of Report: 2011-05-23

Reporting Person: AMELIO GILBERT F (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-23	Common Stock	S	2300	$31.043	Disposed	3074	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	30.7938	Direct

Footnotes

F1: Includes 0.3700 shares acquired on 5/2/2011 at a price of $31.3224 through reinvested dividends under dividend reinvestment plan.