SBC Communications to Issue $2 Billion of Debt; Proceeds to be used for General Corporate Purposes, Including Repayment of Comme

SBC Communications Inc. (NYSE: SBC) announced today it
will issue a total of $2 billion of debt that will be used for general
corporate purposes, including repayment of a portion of the company's
commercial paper borrowings.
   SBC will issue $500 million of three-year, floating-rate notes at
an initial interest rate of 4.52 percent (the three-month LIBOR rate
plus 21 basis points); $1 billion of five-year, fixed-rate notes with
an interest rate of 5.30 percent and an issue price of 99.809; and
$500 million through the reopening of a debt issue made in October
2004 that matures in 2034 and carries a coupon rate of 6.15 percent,
with an issue price of 96.833.
   SBC Communications Inc. is a Fortune 50 company whose
subsidiaries, operating under the SBC brand, provide a full range of
voice, data, networking, e-business, directory publishing and
advertising, and related services to businesses, consumers and other
telecommunications providers. SBC holds a 60 percent ownership
interest in Cingular Wireless, which serves more than 52 million
wireless customers. SBC companies provide high-speed DSL Internet
access lines to more American consumers than any other provider and
are among the nation's leading providers of Internet services. SBC
companies also offer satellite TV service. Additional information
about SBC and SBC products and services is available at www.sbc.com.

   Cautionary Language Concerning Forward-Looking Statements

   Information set forth in this news release contains financial
estimates and other forward-looking statements that are subject to
risks and uncertainties, and actual results may differ materially. A
discussion of factors that may affect future results is contained in
SBC's filings with the Securities and Exchange Commission. SBC
disclaims any obligation to update or revise statements contained in
this news release based on new information or otherwise.