X0304 4 2012-03-12 0000732717 AT&T INC. T 0001184395 WILKINS RAYFORD JR 208 S. AKARD STREET DALLAS TX 75202 1 CEO-AT&T Diversified Bus. Common Stock 2012-03-12 4 F 0 3130.6998 31.44 D 23630.9141 I By Benefit Plan Common Stock 352007.2297 D Common Stock 8255.9605 I By 401(k) Common Stock 6.1514 I By Spouse Common Stock 715.1107 I By Spouse's IRA Mandatory tax withholding on distribution from benefit plan. Reflects transfer of 5,814 shares owned indirectly in benefit plan to direct ownership due to distribution. Includes 317.4614 shares acquired on 2/2/12 at a price of $29.8818 through reinvested dividends under broker-administered dividend reinvestment plan. Includes 10.3769 shares acquired on 2/2/12 at a price of $29.8818 through reinvested dividends under broker-administered dividend reinvestment plan. /s/ Ann E. Meuleman, Secy., Attorney-in-fact 2012-03-14