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EXHIBIT 10(z)
                                                         Form
10-K for 1994
                                                           File
No. 1-11237

                           AT&T CAPITAL CORPORATION
                  SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN


     This is a summary of the benefits available to eligible
members under
the AT&T Capital Corporation Supplemental Executive Retirement
Plan. More
detailed information is provided in the official plan documents.
If there
is a conflict between statements in this summary and the terms of
the plan
documents, the plan documents will control and govern the
operation of the
Supplemental Executive Retirement Plan.  AT&T Capital Corporation
reserves
the right to modify, suspend, change, or terminate the
Supplemental
Executive Retirement Plan at any time.  Questions about your
benefits
should be addressed to the Corporate Benefit Office.  Because of
the many
detailed provisions of the Supplemental Executive Retirement
Plan, no one
other than the Corporate Benefit Office is authorized to advise
you about
your benefits. AT&T Capital Corporation cannot be bound by
statements made
by unauthorized personnel.

PURPOSE

     The AT&T Capital Corporation Supplemental Executive
Retirement Plan
("SERP") is designed to provide supplemental retirement benefits
to certain
members of AT&T Capital Corporation and its subsidiaries. This
summary
refers to AT&T Capital Corporation and its subsidiaries
collectively as the
"Company."

     The SERP is intended to ease the transition for eligible
members from
coverage under the AT&T Management Pension Plan, the AT&T Pension
Plan, or
the NCR Corporation Pension Plan to coverage under the AT&T
Capital
Corporation Retirement and Savings Plan.

PARTICIPATION

     You are a participant in the SERP if you were a participant
in the
AT&T Management Pension Plan, the AT&T Pension Plan, or the NCR
Corporation
Pension Plan as of December 31, 1993, and

     You were a member of the AT&T Capital Corporate Leadership
Forum on
December 31, 1993, or

     On December 31, 1993, you were employed by the Company and
had at
least 10 years of AT&T and/or AT&T Capital Corporation or NCR
service or
you were within 10 years of service pension eligibility (under
the terms of
the AT&T Management Pension Plan as of December 31, 1993) (For
this
purpose, service with a company acquired by AT&T or AT&T Capital
Corporation is included.), and

          - your total pay for 1993 was at least $115,200, or

          - the average of your pay for the 36 months immediately
before
you terminate employment with the Company is at least twice the
Social
Security Wage Base in effect in the year you terminate.
                                    

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     Under the SERP, "pay" means your cash compensation from the
Company
before reductions for taxes or before-tax contributions to any of
the
Company's employee benefit plans, including your base salary, any
applicable commissions, short term bonuses, and awards and
payments under
the Company's Annual Incentive Plan (or any successor plan) to
the extent
includible in your taxable income. However, your "pay" under the
SERP does
not include awards or payments under the Company's long term
incentive
award programs such as the Share Performance Incentive Plan and
the Long
Term Incentive Plan.


SERP BENEFITS

ELIGIBILITY

     You will be eligible for a SERP benefit if, when you leave
the
Company:
 
     You meet the eligibility requirements for a service pension
under the
AT&T Management Pension Plan under the terms of the AT&T
Management Pension
Plan as in effect in the year you leave the Company, assuming you
were
covered by the AT&T Management Pension Plan from the date of your
hire by
the Company (or by a company acquired by the Company), and

     Your Company Benefit is less than the 95% of your Assumed
Retirement
Benefit at age 60.

COMPANY BENEFIT

     Your Company Benefit is comprised of two pieces:

     Your monthly benefit attributable to the uniform points
contributions
credited to your AT&T Capital Corporation Retirement and Savings
Plan and
AT&T Capital Corporation Excess Benefit Plan accounts as of the
date you
leave the Company, plus interest on those contributions credited
at the
annual yield rate on long-term U.S. government bonds, and

     Your monthly benefit payable under the AT&T Management
Pension Plan,
the AT&T Pension Plan, and/or the NCR Corporation Pension Plan.

     Interest credited on uniform points contributions in any
year is based
on the annual yield rate on long-term U.S. government bonds for
the prior
calendar year.

     Your Company Benefit is calculated as the monthly benefit
payable
under the particular plan in the form of a single life annuity.

ASSUMED RETIREMENT BENEFIT

     Your Assumed Retirement Benefit is equal to the monthly
benefit that
would have been payable in the form of a single life annuity
under the AT&T
Management Pension Plan, the AT&T Pension Plan, or the NCR
Corporation
Pension Plan, had you remained covered by the plan you were in as
of
December 31, 1993 until you terminated employment with the
Company except 

                                    

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that your Assumed Retirement Benefit will disregard any special
enhancements to any such plan such as, for example, an early
retirement
window program or a "5 & 5" benefit.

AMOUNT OF SERP BENEFIT

     Your monthly SERP benefit equals the difference between your
Company
Benefit payable for that month and 95% of your Assumed Retirement
Benefit,
multiplied by an actuarial equivalence factor. The actuarial
equivalence
factor reflects the commencement of benefits before age 60 and is
based on
an 8% interest rate and the Unisex (50/50) AT&T Retiree Mortality
Table.

EARLY RETIREMENT FACTORS

     The following table illustrates the early retirement factors
under the
SERP:

     Age at         Early Retirement
Early Retirement    Reduction Factor
     50             0.3804
     51             0.4172
     52             0.4578
     53             0.5029
     54             0.5529
     55             0.6085
     56             0.6704
     57             0.7394
     58             0.8166
     59             0.9030
     60             1.0000

     Your monthly SERP benefit takes into account the frozen AT&T
or NCR
pension that is actually payable when you leave employment. If
you leave
the Company before you are eligible to begin receiving your
benefit under
the AT&T Management Pension Plan, the AT&T Pension Plan, or the
NCR
Corporation Pension Plan, your Company Benefit will not include
your frozen
AT&T or NCR pension in calculating your initial SERP benefit.
When you
become eligible to begin receiving your AT&T or NCR pension, your
SERP
benefit will be reduced by the amount of your AT&T or NCR pension
payable
in the form of a single life annuity. Please look at the example
of
Employee C below to see how this works.

PAYMENT OF SERP BENEFIT

     Your SERP benefit will begin as of the first day of the
month after
you terminate employment with the Company. In general, your SERP
benefit
will be paid each month for the rest of your life.


CLAIM AND APPEAL PROCEDURES

CLAIM PROCEDURES

     If you are eligible, your SERP benefit will be paid
automatically upon 

                                  

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termination of your employment from the Company. If you believe
you are
eligible and you don't receive a SERP benefit, you have a right
to file a
written application for benefits.

     If your claim for benefits is denied, either in whole or in
part, you
will receive written notification from the Corporate Benefit
Office. This
written notification will include:

     The specific reason or reasons for the denial,

     Specific reference to pertinent SERP provisions on which the
denial
was based,

     A description of any additional material or information
necessary to
perfect the claim and an explanation of why the material or
information is
necessary, and

     Appropriate information about the steps to be taken if you
or a person
authorized to represent you wishes to submit the claim for
review.

     The Corporate Benefit Office will respond to your claim
within 90 days
after it receives your claim submitted according to the
procedures
described in this section. This 90-day period may be extended up
to an
additional 90 days if the Corporate Benefit Office notifies you
before the
original 90-day period expires.

     If a claim for benefits is denied, in whole or in part, or
if you
believe that benefits under the SERP to which you are entitled
have not
been provided, you or your authorized representative may appeal
this denial
or other action by the Corporate Benefit Office. 

APPEAL PROCEDURES

     You must appeal in writing within 60 days after you receive
notification of the Corporate Benefit Office's decision or, if
you didn't
receive notification, within 60 days after the 90-day period has
lapsed.
Send your written request for review of any denied claim or other
disputed
matter directly to the Administrative Committee at the Company's
address
listed in the "Administrative Information" section. The person
sending the
request has the right to:

     Review pertinent plan documents. You can obtain them by
following the
procedures described under the "Plan Documents" section, and

     Send to the Administrative Committee a written statement of
the issues
and any other documents in support of the claim for benefits or
other
matter under review.

     The Administrative Committee will provide a written response
to the
appeal within 60 days after it is received. The 60-day period may
be
extended up to an additional 60 days if the Administrative
Committee
notifies you before the original 60-day period expires. If the
Administrative Committee does not respond within 60 (or 120)
days, you may
consider the claim denied. 
                                   

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     The Administrative Committee serves as the final review
committee
under the SERP and has sole and complete discretionary authority
to
determine conclusively for all parties, and in accordance with
the terms of
the documents or instruments governing the SERP, any and all
questions
arising from administration of the SERP and interpretation of all
plan
provisions, determination of all questions relating to
participation of
eligible members and eligibility for benefits, determination of
all
relevant facts, the amount and type of benefits payable to any
participant,
and construction of all terms of the SERP. 

     Notwithstanding the foregoing, AT&T Capital Corporation has
sole and
complete discretionary authority to determine questions relating
to
eligibility of participants for membership in the SERP and to
amend or
terminate the SERP at any time. Respective decisions by the
Administrative
Committee and AT&T Capital Corporation shall be conclusive and
binding on
all parties and not subject to further review. 

     Please note that the SERP requires that you pursue all your
claim and
appeal rights described in this section before you seek any other
legal
recourse regarding claims for benefits.


RIGHTS OF A PLAN PARTICIPANT OR BENEFICIARY UNDER ERISA

     As a participant in the AT&T Capital Corporation
Supplemental
Executive Retirement Plan, you have these rights and protections
under
ERISA: 

     You can examine, without charge, all plan documents and the
copies of
all documents filed by the plan with the U.S. Department of
Labor. You may
examine these documents at the Corporate Benefit Office. See the
"Administrative Information" section for information about where
you can
examine these documents.

     You can obtain copies of all plan documents and other plan
information
upon written request to the Corporate Benefit Office. You will be
charged a
reasonable fee for copies of the documents requested unless
federal law
requires that they be furnished without charge. See the
"Administrative
Information" section to learn where to direct correspondence.

     No one, including your employer or any other person, may
fire you or
otherwise discriminate against you in any way to prevent you from
obtaining
a benefit or exercising your rights under ERISA.

     If your claim for benefits is denied in whole or in part,
you will
receive a written explanation of the reason for the denial. If
you do not
hear from the appropriate party within the designated time frame,
your
claim or appeal is considered denied. You have the right to have
the
appropriate party review and reconsider your claim. (See the
"Claim and
Appeal Procedures" section.)

     Under ERISA, there are steps you can take to enforce the
above rights.
For instance, if you request materials from the plan and do not
receive
them within 30 days, you may file suit in a federal court. In
such cases, 

                                   

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the court may require the Company to provide the materials and
pay you up
to $100 a day until you receive the materials, unless the
materials were
not sent for reasons beyond the control of the Company. If you
have a claim
for benefits that is denied or ignored, in whole or in part, you
may file
suit in a state or federal court. 

     If you are discriminated against for asserting your rights
under
ERISA, you may seek assistance from the U.S. Department of Labor,
or you
may file suit in federal court. The court will decide who will
pay court
costs and legal fees. If you are successful, the court may order
the person
you have sued to pay these costs and fees. If you lose, the court
may order
you to pay costs and fees, for example, if it finds your claim to
be
frivolous.

     For answers to questions about the SERP, contact the
Corporate Benefit
Office. See the "Administrative Information" section for
information about
whom to contact. If you have any questions about this statement
of your
rights, or about your rights under ERISA, contact the nearest
area office
of the Pension and Welfare Benefits Administration, U.S.
Department of
Labor.


ADMINISTRATIVE INFORMATION

PLAN NAME

     The official plan name is the AT&T Capital Corporation
Supplemental
Executive Retirement Plan.

PLAN ADMINISTRATOR

     The Plan Administrator for the AT&T Capital Corporation
Supplemental
Executive Retirement Plan is AT&T Capital Corporation. An
Administrative
Committee appointed by the Compensation Committee of AT&T Capital
Corporation's Board of Directors administers the SERP on AT&T
Capital
Corporation's behalf.

ADMINISTRATIVE COMMITTEE

     The Administrative Committee is located at AT&T Capital
Corporation,
44 Whippany Road, Morristown, New Jersey 07962. The current
members of the
Administrative Committee are the Chief Financial Officer, the
General
Counsel, and the Corporate Resource Officer of AT&T Capital
Corporation.

LEGAL SERVICE

     Direct process of legal service to AT&T Capital Corporation,
44
Whippany Road, Morristown, New Jersey 07962 (Attn: General
Counsel).



                                   

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CORPORATE BENEFIT OFFICE

AT&T Capital Corporation
Attn: Corporate Benefit Office
44 Whippany Road
Morristown, New Jersey 07962
201-397-3256

TYPE OF PLAN, PLAN RECORDS, AND PLAN YEAR

     The AT&T Capital Corporation Supplemental Executive
Retirement Plan is
considered a "top hat plan" under ERISA, established for a select
group of
management or highly compensated members. The SERP is a
nonqualified
pension plan under the Internal Revenue Code. Benefits under the
SERP are
not guaranteed by the Pension Benefit Guarantee Corporation. The
SERP and
all records are kept on a calendar-year basis - beginning January
1 and
ending December 31.

EMPLOYER AND PLAN IDENTIFICATION NUMBERS

     AT&T Capital Corporation and the SERP are identified by the
following
numbers under Internal Revenue Service rules:

Description                                Number
Employer Identification Number 
  (assigned by the IRS)                  22-3211453
Plan Identification Number (assigned
  by AT&T Capital Corporation)                  004

PLAN DOCUMENTS

     The information contained in this summary provides only the
highlights
of the AT&T Capital Corporation Supplemental Executive Retirement
Plan. It
does not attempt to cover all the details. SERP details are
contained in
the official plan documents. These documents legally govern the
operation
of the SERP. 

     You can review the plan documents at the Corporate Benefit
Office
during normal working hours. You must submit your request to
review
documents in writing and allow 10 days for your request to be
processed. If
you submit a written request to the Corporate Benefit Office, you
can
obtain copies of these documents within 30 days. You will be
charged a
reasonable fee for the copies unless federal law requires that
the
documents be furnished without charge.

     Submit all requests in writing to the Corporate Benefit
Office.

NONTRANSFERABILITY OF BENEFITS

     You or your beneficiary may not assign or transfer amounts
under the
SERP. Similarly, amounts credited to your account may not be used
to pay
your debts or obligations. However, the SERP will comply with a
qualified
federal tax levy.


                                   

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PAYMENT OF BENEFITS AND PLAN FUNDING

     The SERP is considered an "unfunded" deferred compensation
plan under
ERISA and the Internal Revenue Code. However, AT&T Capital
Corporation may
establish a trust to which it may make contributions to fund its
obligations under the SERP. Funds are held in the trust to pay
benefits for
SERP participants. However, if the Company becomes insolvent, the
trust may
be used to pay benefits to the general creditors of the Company.
SERP
benefits will be paid primarily from this trust. If there are
insufficient
assets in the trust, SERP benefits will then be paid from the
general
assets of the Company.

TRUSTEE

     The trustee is Merrill Lynch Trust Company, 300 Davidson
Avenue,
Somerset, New Jersey 08873.

PLAN CONTINUATION

     The Compensation Committee of the Board of Directors of AT&T
Capital
Corporation (or its delegate) reserves the right to modify,
suspend,
change, or terminate the SERP at any time. AT&T Capital
Corporation does
not guarantee the continuation of any benefits during employment,
nor does
it guarantee any specific level of benefits. Also, benefits are
provided at
AT&T Capital Corporation's discretion and do not create a
contract of
employment.