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AT&T UPDATES OUTLOOK ON MERGER SYNERGIES.
(Full text of this release can be found at http://www.businesswire.com)
NEW YORK--(BUSINESS WIRE)--Jan. 31, 2006--
Industry's Premier Assets and Largest Synergy Opportunities Expected to Drive Double-Digit Adjusted EPS Growth in Each of the Next Three Years
-- Merger synergies expected to reach $3 billion annual run-rate by 2008, value of expected merger synergies estimated at $18 billion, 20 percent above estimates announced in January of 2005.
-- Additional cost initiatives, separate from merger integration, expected to yield annual expense savings reaching .2 billion by 2008.
-- Merger drives strengthened AT&T revenue mix, with three-fourths of total revenues, including proportionate Cingular results, now coming from wireless, business and wholesale.
-- Cingular Wireless continues to be on or ahead of schedule with merger initiatives and expects to largely complete deployment of 3G UMTS/HSDPA wireless data network this year.
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