AT&T LATIN AMERICA CORP
425, 2000-08-07
TELEPHONE COMMUNICATIONS (NO RADIOTELEPHONE)
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COMPANY: AT&T Latin America Corp.

FORM TYPE: 425

DOCUMENT DATE: August 7, 2000
FILING DATE:   August 7, 2000

Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: AT&T Latin America Corp.
Commission File No.: 333-42176
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For Further Information

<TABLE>
<S>                               <C>                       <C>
Lydia R. Rodriguez                James Hart                Leonardo Santiago
AT&T Latin America                AT&T Corp                 Brainerd Communicators
305-774-2368 (office)             908-221-2007 (office)     212-986-6667 (office)
305-613-6767 (cell)               908-672-7915 (cell)       [email protected]
[email protected]               [email protected]            ----------------------
-------------------               --------------
</TABLE>

              AT&T LATIN AMERICA FILES REGISTRATION STATEMENT FOR
                        PUBLIC OFFERING OF COMMON STOCK


Miami, FL (August 7, 2000) -- AT&T Latin America, a provider of integrated
communications services to businesses in Latin America, today announced that it
has filed a registration statement with the Securities and Exchange Commission
relating to a proposed public offering of 35 million shares of Class A common
stock. The offering is subject to the completion of the previously announced
merger of FirstCom and AT&T Latin America.

Morgan Stanley Dean Witter will act as the lead manager with Credit Suisse First
Boston, J.P. Morgan & Co., Merrill Lynch & Co. and Salomon Smith Barney serving
as co-managers.

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 any offer to buy nor shall
there be any sale of the 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.

ABOUT AT&T LATIN AMERICA

In November 1999, AT&T Corp. announced plans to form AT&T Latin America, a
company that will merge the operations of Netstream, the Brazilian competitive
local exchange carrier it acquired, and FirstCom, a publicly traded company with
operations in Chile, Colombia and Peru.

AT&T Latin America will provide technologically advanced first mile data and
voice connectivity, while providing the knowledge and experience to partner with
business customers to make a lasting difference. It will establish a full range
of quality business services, one-stop shopping and customer service in
countries where it operates.


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ABOUT AT&T CORPORATION

AT&T Corp. (www.att.com) is among the world's premier voice, video and data
communications companies, serving more than 80 million customers, including
consumers, businesses and government. With annual revenues of more than $62
billion and 147,000 employees, AT&T provides services to customers worldwide.
Backed by the research and development capabilities of AT&T Labs the company
runs the world's largest, most sophisticated communications network and has one
of the largest digital wireless networks in North America.

ABOUT FIRSTCOM CORPORATION

FirstCom Corporation operates as a publicly traded (NASDAQ: FCLX) competitive
local exchange carrier in four major metropolitan business centers in Chile,
Colombia and Peru. With annual revenues in 1999 of $38 million and approximately
650 employees at year-end, FirstCom owns and operates a technologically
advanced, fiber optic IP/ATM backbone-network and provides a wide range of
integrated communications services.

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995. The foregoing statements involve known and unknown risks and
uncertainties that may cause AT&T Latin America's actual results or outcomes to
be materially different from those anticipated and discussed in this press
release. Except for historical information contained in this press release, the
matters discussed contain forward-looking statements that involve risks and
uncertainties, including but not limited to economic, competitive, governmental
and technological factors detailed in the registration statement on Form S-1
described above, which readers are urged to read carefully in assessing the
forward-looking statements contained herein.

In connection with the FirstCom/AT&T Latin America merger, FirstCom has filed a
definitive proxy statement and AT&T Latin America has filed a registration
statement on Form S-4. We urge investors and security holders to read the
definitive proxy statement and registration statement before they make a
decision concerning the merger. Security holders may obtain a free copy of those
documents and other documents filed by FirstCom Corporation at the SEC's web
site at www.sec.gov. In addition, documents filed with the SEC by FirstCom may
also be obtained from FirstCom Corporation by directing such request to FirstCom
Corporation, 220 Alhambra Circle, Coral Gables, Florida 33134, Attention:
General Counsel.

The members of the board of directors of FirstCom Corporation are Patricio E.
Northland, George Cargill, Andrew Hulsh and David Kleinman. As of the date
hereof, there are no other "participants in the solicitation," within the
meaning of Rule 14a-12 under the Securities Exchange Act of 1934, as amended.
Information concerning the directors is set forth in the definitive proxy
statement filed with the SEC.

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