Trading Statement

Bellsouth Corp
19 October 2000


For more information, contact: 
Pattie Kushner
(404-249-2365) 
Jeff Battcher
(404-713-0274) 


               BellSouth Third Quarter EPS Increases 10% 
      Domestic and International Wireless Continue Strong Performance; 
            DSL Customer Base Grows More Than 80 Percent During Quarter 

ATLANTA, GA - BellSouth Corporation (NYSE: BLS) reported third quarter earnings
per share (EPS) of 55 cents, including a two-cent reduction related to its newly
acquired wireless properties in Colombia. Third quarter EPS increased 10 percent
compared to 50 cents before special items in the third quarter of 1999. 

Consolidated revenues were $6.9 billion, a gain of 7.5 percent compared to the
same period of the previous year. Strong growth in data revenues represented
more than 40 percent of consolidated revenue growth. This highlights BellSouth's
continuing shift not only to digital broadband services and e-commerce
applications for business customers but also to wireless and international. In
addition, BellSouth's DSL customer base increased more than 80 percent during
the third quarter. 

'We're leveraging our existing network assets to create a sophisticated new
platform for data, Internet services and e-business,' said Duane Ackerman,
chairman and chief executive officer. 'In telecom's other high growth area, the
debut of Cingular Wireless, the new company we formed with SBC Communications to
deliver national wireless data and voice services, opens up lots of new markets
and unlocks significant value for our investors.' 

DSL, Data, Internet, E>Commerce 

At the end of September, BellSouth had 134,000 customers for DSL and other
high-speed access products, compared to 74,000 at the end of June, a quarterly
gain of 81.1 percent. For the quarter, the percentage of residential customers
successfully using the self-install option was nearly 70 percent. With this
acceleration in customer growth, BellSouth is confident it will have 200,000
high-speed customers by year end 2000. 

Equivalent access lines, which include broadband data services as well as
traditional switched lines, grew at a record annual rate of 25.3 percent in the
three months ended September 30, 2000. Total data revenues in the third quarter
were $894 million, an increase of 28 percent compared to the same quarter of
1999. During the quarter BellSouth opened new E-Business Centers in Atlanta and
Miami to provide Web hosting services. 

Domestic Wireless

Proportionate revenues of $890 million grew 19.5 percent compared to $745
million in the third quarter of 1999 (normalized for the sale of Honolulu
Cellular in August 1999). At the end of the third quarter, BellSouth served
nearly 6.2 million mobile phone customers in the U.S. (proportionate basis), an
accelerating annual growth rate of 19.8 percent, up from 17.6 percent customer
growth in the second quarter and 15.4 percent in the first. Special plans such
as BellSouth's unique 'Rollover Minutes' program and digital one-rate options
helped drive increased usage and revenues. Average revenue per subscriber of $53
in the third quarter of 2000 increased 3.9 percent compared to $51 in the same
three months a year ago. 

International

Including newly acquired operations in Colombia, BellSouth added more than a
million international wireless customers in the third quarter, driving an annual
growth rate of 69.3 percent and bringing the number of customers to more than
8.7 million on a proportionate basis. Third quarter proportionate revenues
climbed 16.8 percent, to $875 million in 2000 from $749 million in the same
quarter of the previous year. During the third quarter, BellSouth completed
acquisitions that make it 66 percent owner of the first national wireless
company in Colombia, and early in the fourth quarter, launched wireless service
in Guatemala, the 11th market served by BellSouth in Central and South America. 

Calling Features and Packages 

Calling feature revenues were $550 million in the third quarter of 2000, a 12
percent increase compared to $491 million in the same three months of 1999. The
BellSouth(R) Complete Choice(R) Plan family of services passed the 5 million
customer milestone during the quarter, and is now used by nearly 30 percent of
residential customers. Complete Choice packages basic service with any or all of
some two dozen calling features such as Caller ID and Call Waiting Deluxe. In
addition, BellSouth has sold 8.2 million Caller ID lines to residential and
business customers. 

About BellSouth Corporation

BellSouth Corporation is an integrated communications services company
headquartered in Atlanta, GA serving more than 41 million customers in the
United States and 16 other countries. BellSouth, consistently recognized for
customer satisfaction, provides residential, business and wholesale customers
with integrated voice, video and data services to meet their communications
needs. BellSouth is a Fortune 100 company with total revenues exceeding $26
billion. 

About Cingular Wireless (a joint venture with SBC Communications) 

Through Cingular Wireless, the nation's second largest wireless company,
BellSouth provides innovative wireless voice and data services. Cingular
Wireless serves 19 million subscribers and reaches 190 million potential
customers with the most robust set of services in the wireless industry,
including interactive messaging in addition to attractive national rate plans
and bundles of other communications services. 

Further information about BellSouth's third quarter earnings release can be
accessed at the company's Investor Relations Web site at
www.bellsouth.com/investor. The press release, earnings commentary summarizing
highlights of the quarter, and financial statements will be available on the Web
site. In addition, the audio of the earnings commentary can be accessed by
calling the BellSouth Investor Newsline at 770-662-0779, beginning today at 8
a.m. EDT and continuing through Monday, October 23, 2000. 

In addition to historical information, this document contains forward-looking
statements regarding events and financial trends. 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) the
intensity of competitive activity and its resulting impact on pricing strategies
and new product offerings; and (iii) higher than anticipated cash requirements
for investments, new business initiatives and acquisitions. The forward-looking
information in this document is given as of this date only, and BellSouth
assumes no duty to update this information.