BD80 Hsbc Bk.24

RNS Number:9502S
Bellsouth Corp
14 March 2002


News Release


For Immediate Release
March 14, 2002


For More Information Contact:
Jeff Battcher
BellSouth Media Relations
(404) 713-0274



                   BellSouth and KPN Close on Sale of E-Plus


March 14, 2002, Atlanta - BellSouth has closed on its Jan. 30, 2002, agreement
with Dutch telecommunications provider Royal KPN that restructures the
relationship between the two companies. Under the new agreement, BellSouth
exchanged its 22.51 percent stake in German mobile phone operator E-Plus for
234.7 million shares of KPN. This represents 9.42 percent of KPN's outstanding
shares. Based on KPN's March 13th closing price, BellSouth expects to record an
after-tax gain of approximately $850 million.


About KPN

KPN is a full-service telecommunications provider headquartered in the
Netherlands. It operates in six countries and offers a wide range of services,
including fixed line and mobile telephony, business communications and corporate
networking.


About BellSouth

BellSouth Corporation is a Fortune 100 communications services company
headquartered in Atlanta, GA, serving 46 million customers in the United States
and 15 other countries.


Consistently recognized for customer satisfaction, BellSouth provides a full
array of broadband data and e-commerce solutions to business customers,
including Web hosting and other Internet services.  In the residential market,
BellSouth offers DSL high-speed Internet access, advanced voice features and
other services.  BellSouth also provides online and directory advertising
services, including BellSouth(R) Real PagesSM.com.


BellSouth owns 40 percent of Cingular Wireless, the nation's second largest
wireless company, which provides innovative wireless data and voice services.



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                      This information is provided by RNS
            The company news service from the London Stock Exchange

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