SNET LOGO NEWS RELEASE ____________________________________________________________________________ 227 Church Street New Haven, Connecticut 06510 Visit us at www.snet.com March 27, 1998 For further information contact: Kevin Moore (203) 771-2136 Analysts Only: Jim Magrone (203) 771-4662 SNET SHAREHOLDERS APPROVE MERGER WITH SBC At a meeting held today in Stamford, Connecticut, SNET (NYSE: SNG) shareholders voted to approve the Company's pending merger with SBC Communications, Inc. (NYSE: SBC). Seventy-eight (78) percent of SNET's outstanding common shares were voted in favor of the merger, which is significantly more than the two-thirds required under Connecticut law. Today's shareholder endorsement completes another important step in the approval process. Last month, the merger cleared anti-trust review by the U.S. Department of Justice. The Federal Communications Commission and Connecticut's Department of Public Utility Control must also approve the merger and are expected to rule later this year. Commenting on the results of the shareholder ballot, SNET Chairman and CEO, Daniel J. Miglio said, "Our shareholders have given us a very clear thumbs up on our merger plans. They've demonstrated their confidence in our plan which will make SNET an even stronger company, positioned for long term success. The strengths that SBC will bring to SNET will enhance our competitiveness in an environment where size and scale are increasingly -more- important. This, in turn, will benefit consumers, our state and our employees as well as shareholders." SBC chairman and CEO, Edward E. Whitacre, Jr., added, "We're, of course, pleased by this endorsement. Our combined strengths, our shared commitment to our customers, communities and employees and our determination to deliver high quality, one-stop telecommunications service will help ensure as many as possible participate in the benefits of competition in the years ahead." SNET and SBC announced a definitive agreement to merge on January 5, 1998. The transaction is structured as a tax-free, stock for stock merger, with an exchange ratio of 1.7568 shares of SBC common stock for each share of SNET common stock. ##