AT&T INC

Ticker: T CUSIP: 00206R102 Class: COM

SANDLER CAPITAL MANAGEMENT's Holding History (CIK: 0001000742)

Note: Option positions (PUT/CALL) are excluded.

Q4 2014

Shares 16,000 Value ($000) $537 Avg Close $11.81 Range $11.04 - $12.44

Q3 2014

Shares 16,000 Value ($000) $564 Avg Close $11.90 Range $11.56 - $12.68

Q2 2014

Shares 7,000 Value ($000) $248 Avg Close $11.78 Range $11.32 - $12.26

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2014	16,000	$537	$11.81	$11.04 - $12.44
Q3 2014	16,000	$564	$11.90	$11.56 - $12.68
Q2 2014	7,000	$248	$11.78	$11.32 - $12.26