Re Agreement

Bellsouth Corp
05 March 2003

BELLSOUTH PRESS RELEASE



                                                   For more information contact:

                                                                  Maria Schnabel

                                                             Phone: [phone]

                                                    [e-mail]

                                                                   Jeff Battcher

                                                             Phone: [phone]

                                                     [e-mail]








           BELLSOUTH SELLS STAKE IN NORTHEAST BRAZIL CELLULAR COMPANY



Atlanta, GA (USA) - March 5, 2003Date -- BellSouth Corporation has signed an
agreement to sell its entire stake in BSE, a cellular communications company
that operates in six states of Brazil's Northeastern region, to Telecom
Americas, a subsidiary of America Movil.

"BellSouth will continue to focus its efforts in Latin America on our 10
remaining markets said Ralph de la Vega, President of BellSouth Latin America.
"These companies are leaders in their respective markets. They have the top
brands, and eight of the 10 properties rank #1 or #2 in revenue share in their
respective countries.

BellSouth's interest in its Sao Paulo joint venture, BCP Telecomunicacoes, is
not being sold as part of this transaction. The transaction is expected to close
in the second quarter of 2003 and is subject to several conditions, including
approval by Brazil's regulatory authorities.

About BellSouth

BellSouth Corporation is a Fortune 100 communications services company
headquartered in Atlanta, Georgia, USA, serving more than 44 million customers
in the United States and 14 other countries.

In the U.S., where it is consistently recognized for customer satisfaction,
BellSouth provides a full array of broadband data solutions to large, medium and
small businesses. In the residential domestic market, BellSouth offers DSL
high-speed Internet access, advanced voice features and other services.
BellSouth also offers long distance service throughout its markets, serving both
business and residential customers. The company's BellSouth Answers(SM) package
combines local and long distance service with an array of calling features;
wireless data, voice and e-mail services; and high-speed DSL or dial-up Internet
service. BellSouth also provides online and directory advertising services
through BellSouth(R) Real Pages(SM).com and The Real Yellow Pages(R). BellSouth
owns 40 percent of Cingular Wireless, the second largest wireless company in the
U.S., which provides innovative data and voice services.

In Latin America, BellSouth's affiliates in Argentina, Brazil, Chile, Colombia,
Ecuador, Guatemala, Nicaragua, Panama, Peru, Uruguay and Venezuela offer a wide
range of voice and data wireless communications services.

In addition to historical information, this document contains forward-looking
statements. Factors that could affect future results and could cause actual
results to differ materially from those expressed or implied in the
forward-looking statements include: (i) a change in economic conditions in
domestic or international markets where we operate or have material investments
which would affect demand for our services; (ii) currency devaluations and
continued economic weakness in certain international markets in which we operate
or have material investments; (iii) unfavorable regulatory actions and (iv)
those factors contained in the Company's periodic reports filed with the SEC.
The forward-looking information in this document is given as of this date only,
and BellSouth assumes no duty to update this information.


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