BellSouth Shelf Registration

Bellsouth Corp 30 July 2004 For more information: LeAnn Hansen, BellSouth Media Relations BellSouth Investor Relations 404-249-2839 800-241-3419 For Immediate Release: July 30, 2004 BellSouth Files Shelf Registration Statement for Debt Securities ATLANTA - BellSouth Corporation (NYSE: BLS) will file a shelf registration statement today with the Securities and Exchange Commission (SEC) related to $6.95 billion of debt securities. The registration statement will allow the company to offer one or more series of debt securities in amounts and on terms to be determined. Specific terms of the securities will be set forth in a corresponding prospectus at the time that such securities are offered and sold. The Company expects to sell a portion of the debt securities to fund the closing of the Cingular acquisition of AT&T Wireless, Inc. Additional debt securities could be sold in the coming years as business opportunities arise. As previously disclosed in its Form 10-Q for the period ended March 31, 2004, BellSouth signed a definitive agreement to sell its interests in Latin America resulting in those operations meeting the criteria for reporting as discontinued operations. Under generally accepted accounting principles, BellSouth is required to reclassify previously reported prior period financial statements to reflect the discontinued operations on a basis comparable to current presentation. The SEC's regulations require BellSouth's financial statements that were included in its 2003 Annual Report on Form 10-K to be updated for discontinued operations in connection with the shelf registration statement referenced above. The updated financial statements will be filed with the SEC on a Form 8-K today. About BellSouth Corporation and this Shelf Registration Statement BellSouth Corporation is a Fortune 100 communications company headquartered in Atlanta, Georgia, and a parent company of Cingular Wireless, the nation's second largest wireless voice and data provider. Backed by award winning customer service, BellSouth offers the most comprehensive and innovative package of voice and data services available in the market. Through BellSouth AnswersSM, residential and small business customers can bundle their local and long distance service with dial up and high speed DSL Internet access, satellite television and Cingular(R) Wireless service. For businesses, BellSouth provides secure, reliable local and long distance voice and data networking solutions. BellSouth also offers online and directory advertising through BellSouth(R) RealPages.comSM and The Real Yellow Pages(R). A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. More information about BellSouth can be found at www.bellsouth.com. # # # This information is provided by RNS The company news service from the London Stock Exchange
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