AT&T (T) 8-K Unaudited Pro Forma Condensed Combined Financial Statements

SBC COMMUNICATIONS INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES — PRO FORMA
Dollars in Millions

Six Months Ended June 30, 2005

SBC
Historical AT&T
Historical Pro Forma
Adjustments         Combined

Income Before Income Taxes	$	2,698	(a)	$	1,394	$	(29	)	$	4,063
Add: Interest Expense		702			372		(70	)		1,004
Dividends on Preferred Securities		16			-					16
1/3 Rental Expense		77			70					147
Adjusted Earnings	$	3,493		$	1,836	$	(99	)	$	5,230
Total Interest Charges	$	717			382		(70	)	$	1,029
Dividends on Preferred Securities		16			-					16
1/3 Rental Expense		77			70					147
Adjusted Fixed Charges	$	810		$	452	$	(70	)	$	1,192
Ratio of Earnings to Fixed Charges		4.31			4.06					4.39

(a)     For SBC, undistributed earnings on investments accounted for under the equity method have been excluded.