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Business Description
BellSouth Corporation is a Fortune 100 communications services company that provides voice and data services to more than 46 million customers in the United States and 15 other countries. The Company provides an array of voice, broadband data and e-commerce solutions to business customers, including Web hosting and other Internet services. In the residential market, the Company offers DSL high-speed Internet access, advanced voice features and other services. The Company also provides online and directory advertising services, including BellSouth Real Pages.com. The Company has four operating segments: the Communications Group; Domestic Wireless; Latin America, and Domestic Advertising and Publishing.

Financial Information
BLS serves more than 37 million customers in 20 countries providing: wireline network access services for voice, digital and data, cable and digital TV and advertising services, web design and hosting and internet access. For the six months ended 6/30/02, revenues fell 5% to $11.31 billion. Net income decreased 18% to $1.45 billion. Results reflect a reduction in domestic wireless revenues, along with the inclusion of impairment costs.