A
5116 - June 22, 2000
P&S 4676
TO: ALL PARTICIPANTS
ATTENTION: MANAGING PARTNER / OFFICER, CASHIER, MANAGER REORGANIZATION DEPARTMENT, DATA PROCESSING MANAGER, MANAGER DIVIDEND DEPARTMENT
SUBJECT: AT&T CORP
On June 15, 2000, the New York Stock Exchange (NYSE) began trading in AT&T Corp When-Issued (CUSIP 001957109 Symbol TWD).
On June 21, 2000, AT&T announced the payment of a quarterly cash dividend to be paid based on the following:
| Ex-Dividend | June 28,2000 |
| Record Date | June 30, 2000 |
| Payable Date | August 1,2000 |
The Ex-Dividend will apply to BOTH the Regular-Way AND When-issued securities trades occurring prior to the ex-dividend date.
Dividend processing for regular way trades will occur in accordance with NSCC’s current procedures. In order to permit NSCC to process dividend debits and credits for the when-issued trades occurring prior to the ex-dividend date the following procedures will apply:
1. NSCC will carry two (2) separate CUSIP numbers in CNS
2. NSCC will calculate a net when-issued position for when-issued trades eligible for the dividend. (CUSIP 001957109) Participants will be debited or credited the appropriate dividend amounts on payable date August 1, 2000 based on the net positions.
For Settlement purposes, all compared When-Issued trades will settle via the Continuous Net Settlement System (CNS). When-Issued trades compared using CUSIP 001957109 will be combined with any regular way positions in AT&T common stock (normal when-issued processing). When-Issued trades compared using CUSIP number 001957125 will be merged into the AT&T CUSIP (001957109) using the CNS Reorg system. These entries will occur on When-Issued Settlement Date and will appear on your CNS Miscellaneous Activity Report as Code 51 Merger.
At the opening of trading on June 28,2000, The New York Stock Exchange will suspend trading in AT&T Corp When-Issued CUSIP 001957109 (Symbol TWD) and begin trading in AT&T Corp When-Issued CUSIP 001957125 (Symbol TWD). The NYSE will announce the actual Settlement Date once it has been determined. The same settlement date will apply to BOTH AT&T When-Issued CUSIPS.
Please refer to the New York Stock Exchange Information Notice dated June 22,2000 for additional information regarding this security.
Questions regarding this notice can be directed to Joe Conte, NYSE @ 212-656-5024, Tony Aliberti, NYSE @ 212-656-5034 or the undersigned @ 212-412-8662
Kevin A Brennan
Director, Operations