Filed pursuant to Rule 424(b)(3)
Registration No. 333-44553
PROSPECTUS This document constitutes part of a prospectus covering
SUPPLEMENT securities that have been registered under the Securities Act
of 1933. This prospectus supplements and must be used in
conjunction with the prospectus dated February 6, 1998.
SBC LOGO SBC Communications Inc.
and Participating Companies
Direct Stock Purchase and Reinvestment Plan
Effective April 5, 1999, the SBC Communications Inc. Direct Stock Purchase
and Reinvestment Plan ("SBC Direct") will be modified as follows:
Change in Transfer Agent and Plan Administrator
On April 5, 1999, First Chicago Trust Company of New York ("First Chicago
Trust"), will replace The Bank of New York as the transfer agent for SBC. You
can reach the new transfer agent by calling 1-800-351-7221 or writing First
Chicago Trust at P.O. Box 2508, Jersey City, NJ 07303-2508. First Chicago Trust
will also become the Plan Administrator under SBC Direct.
The DirectSERVICE(TM) Investment Program
Effective July 1, 1999, SBC Direct will be replaced by The
DirectSERVICE(TM) Investment Program. This program will be sponsored and
administered by First Chicago Trust. If you are participating in SBC Direct on
that date, your account and elections will be transferred over to, and subject
to the terms of, the new program. More information on the new program will be
sent to you by First Chicago Trust in May. There is nothing you need to do; your
account and instructions will automatically be transferred to the new program.
In conjunction with First Chicago Trust becoming Plan Administrator, all
shares formerly held by the Plan Administrator on behalf of a participant will
be registered in that person's name in the form of uncertificated shares.* SBC
shareowners may hold their shares either in the form of a certificate or as
uncertificated shares that are recorded on SBC's books (also known as Direct
Registration Shares). With uncertificated shares, you enjoy the same shareowner
benefits as when you hold certificates, but without the risk of certificate
theft, loss or misplacement. Mutual funds have used this method to record
shareowner ownership for years. This will not affect your participation in SBC
Direct or the new DirectSERVICE(TM) Investment Program.
You should keep this prospectus for future reference.
April 1, 1999
* Participants' fractional shares are aggregated and held by the Plan
Administrator on behalf of participants.
