Rio, September 4, 2003 (Agência Brasil - ABr) - Embratel (Brazilian Telephone Company) announced yesterday (3) its intention of buying the subsidiaries of the AT&T Latin America Corp in Brazil, Argentina, Chile, Colombia, and Peru. According to Embratel's director of Stockholder Relations, Norbert Glatt, the move is aimed at expanding the scope of Embratel's services in the region.

Completion of the transaction, however, depends upon the official outcome of proceedings in and favorable rulings by American courts. (DAS)