Registration Statement etc

Bellsouth Corp 4 April 2000 Contact Information: Pattie Kushner Phone: (404) 249-2365 Pager: (877) 284-4976 patricia.kushner@bellsouth.com BELLSOUTH FILES WITH SEC FOR LATIN AMERICA GROUP TRACKING STOCK Special Shareholders' Meeting and Initial Public Offering Anticipated for Late-Summer ATLANTA - March 29,2000 - BellSouth Corporation (NYSE: BLS) announced today that it has filed with the Securities and Exchange Commission (SEC) a registration statement relating to its plans to create and issue a series of Common Stock to track the performance of its Latin American businesses. The registration statement relates to an initial public offering of shares of the tracking stock. Morgan Stanley Dean Witter and Goldman Sachs & Co. have been named as lead underwriters in connection with the offering of the Latin American tracking stock. Evercore Partners Inc. is acting as financial advisor to BellSouth. BellSouth also is filing a preliminary proxy statement today. The proxy statement relates to the special shareholders' meeting, which is expected to occur this summer. The proxy statement contains details about the terms of the tracking stock, BellSouth's Latin American businesses and the expected benefits of the tracking stock structure. Shareholders will be asked to approve a charter amendment creating a new capital structure to enable the issuance of the tracking stock. About BellSouth's Latin America Group With operations in ten Latin American countries - Argentina, Brazil, Chile, Ecuador, Guatemala, Nicaragua, Panama, Peru, Uruguay and Venezuela - covering a population of 176 million, BellSouth and its partners serve more than 6.2 million customers (or 4.2 million proportionate customers). In addition to cellular and PCS, these operations offer an array of communications services to business and residential customers, including domestic and international long distance calling, Internet and data services, directory operations and fixed wireless services. About BellSouth Corporation BellSouth (NYSE:BLS) is a $25 billion communications services company. It provides wireline and wireless telecommunications, Internet and data services, advertising and publishing products, and video and entertainment services to nearly 37 million customers in 19 countries worldwide. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Shareholders should carefully review the definitive proxy statement when it is available because it will contain important information. Shareholders can view the proxy statement for free at the SEC's Internet Web site at www.sec.gov. Shareholders will receive the definitive proxy statement for free in connection with the solicitation of proxies for the special meeting. NOTES: Shareholders also can review BellSouth's Preliminary Proxy Statement that has been filed with the SEC by visiting BellSouth's Investor Relations web site at www.bellsouth.com/investor. Shareholders may direct questions to BellSouth Shareholder Services at 1-800-969-2372
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