BD80 Hsbc Bk.24

RNS Number:2558T
Bellsouth Corp
19 March 2002



News Release
For Immediate Release
March 20, 2002


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



              BellSouth Records $850 million on Sale of KPN Shares

March 19, 2002, Atlanta - BellSouth announced today that it sold its entire
position, 234.7 million shares, in Dutch telecommunications provider Royal KPN.
As a result, the company will record an after-tax gain of approximately $850
million during the first quarter of 2002, as previously disclosed.

On January 30, 2002, BellSouth and KPN restructured their relationship allowing
BellSouth to exchange its 22.51 percent stake in German mobile phone operator
E-Plus for 234.7 million shares of KPN, representing a 9.42 percent of KPN's
outstanding shares.


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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