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To: Eric L who wrote (21469)	7/26/2002 7:56:14 AM
From: Eric L	Respond to of 34857

re: AWS Q2 Numbers * Consolidated subscriber net additions totaled 417,000, a 37.5% decrease compared to the year-ago quarter. * Total consolidated subscribers were 19.953 million * Total subscribers including affiliates were 21.8 million, a 15.9% increase from the 18.8 million recorded at the end of the second quarter last year. >> AT&T Wireless Reports Rising Revenues AT&T Wireless has reported solid second quarter financial results with services revenue for the mobility business increasing 16% to US$3.625 billion compared to US$3.123 billion for the year-ago quarter. The year-over-year increase includes revenue associated with TeleCorp subsequent to its acquisition on February 15, 2002. Second quarter mobility EBITDA grew 19.2% to US$1.023 billion compared to US$858 million for the year-ago quarter. The company said this is the first time its quarterly EBITDA has surpassed the US$1 billion mark. The increase was primarily the result of a rise in services revenue coupled with cost reduction efforts, which was partially offset by higher network costs associated with growth in the subscriber base. In addition, mobility EBITDA included one-time charges resulting from a higher provision for WorldCom uncollectible receivables and charges associated with the wind-down of AT&T Wireless' air-to-ground operations. Minutes of use per subscriber climbed to a record level of 482 average minutes per subscriber per month in the second quarter, an increase from 383 minutes in the year-ago quarter. ARPU fell though, to US$60.40, a decrease of 5.3% from the year-ago quarter but an increase of 3.1% from the first quarter. The decline in ARPU from the prior year quarter was due primarily to continuing competitive pricing and a broader base of new customers. Churn for the quarter was 2.4%, a 50-basis point improvement from the year-ago quarter and a 20-basis point improvement from the first quarter of 2002. The decrease resulted from an effort to move customers onto calling plans that better fit their needs as well as an increased number of customers extending service contracts. Churn relating to post-paid programs was a three-and-a-half year best 2.2% in the second quarter, a decrease from 2.6% in the prior year quarter and 2.4% in the first quarter of 2002. Consolidated subscriber net additions for the mobility business totaled 417,000, a 37.5% decrease compared to the year-ago quarter. Total consolidated subscribers were 19.953 million at the end of the second quarter. Total subscribers including affiliates were 21.8 million, a 15.9% increase from the 18.8 million recorded at the end of the second quarter last year. AT&T Wireless said it had approximately 600,000 WorldCom Wireless customers on its network and at risk. The company said it signed an agreement with WorldCom to move most of those customers to AT&T Wireless in the coming weeks. >> - Eric -