Williams Communications Inc. (Tulsa, OK) has formed an alliance with SBC Communications (San

May 1st, 1999

Williams Communications Inc. (Tulsa, OK) has formed an alliance with SBC Communications (San Antonio, TX) under which Williams becomes the preferred provider of nationwide long-distance voice and data services, along with technical support, for SBC. In return, SBC becomes a key provider of platform products, certain international services, and technical support for Williams. As part of the new relationship, SBC plans to acquire up to 10% of the common stock of Williams Communications Group Inc. SBC`s initial investment will be limited to $500 million, which will be reinvested by Williams in its business. Almost immediately after announcing its alliance with SBC, Williams announced a $4.7-billion expanded and accelerated construction plan that nearly doubles its original $2.7-billion financial commitment to finishing its network. Williams simultaneously announced its new targeted network completion date of 2000, nearly a year ahead of schedule.

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