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To: Johnny Canuck who wrote (38752)	1/7/2003 1:02:34 AM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69852

Dow Jones Business News AT&T Wireless Will Receive $436 Million Refund Monday January 6, 8:56 pm ET REDMOND, Wash. -- AT&T Wireless will receive $436 million in a federal tax refund claim related to a tax net operating loss for 2001. ATT& Wireless will receive the cash in the next few days from AT&T Corp. , which got it in a wire transfer from the IRS on Monday, according to AT&T Wireless spokesman David Caouette. AT&T Wireless will record the $436 million in its current first quarter as a balance-sheet adjustment to shareholders' equity. The refund won't affect the income statement, Mr. Caouette said. The company said the funds will strengthen its balance sheet and liquidity position. The IRS still may audit the refund claim, AT&T Wireless noted in a press release Monday. The consolidated tax net operating loss for 2001 was carried back for a refund of taxes paid by AT&T Corp. AT&T Corp. spun off AT&T Wireless in July 2001. AT&T Wireless said it also expects a tax net operating loss for 2002, and plans to seek AT&T Corp.'s consent for a federal tax refund back claim for a portion of that loss as well. Separately, AT&T Wireless said it has increased volume commitments and extended its Master Carrier Agreement with AT&T Corp. by six months to Jan. 31, 2007. Under the agreement, AT&T Corp. provides voice and data services. AT&T Wireless said that it doesn't anticipate any increase in costs associated with the extension of the service agreement. At 4 p.m. EST on the New York Stock Exchange, AT&T Wireless shares were at $ 6.79, up 54 cents or 8.6%, on volume of 13.8 million shares. Average daily volume is 10.6 million shares. Earlier Monday, AT&T Corp. said it will take about $1.54 billion in impairment and restructuring charges in the fourth quarter, including $1.1 billion, or $1.40 a share, to write down most of its investment in AT&T Latin America Corp. (ATTL). -Ralph Tasgal; Dow Jones Newswires; 201-938-5400