LONDON (Standard&Poor's) April 8, 2002--Following a reassessment of Deutsche Telekom AG's debt-reduction strategy, Standard&Poor's said today it lowered its long-term ratings on the German-based telecommunications operator to triple-'B'-plus from single-'A'-minus. At the same time, the 'A-2' short-term ratings on Deutsche Telekom were affirmed. All ratings were removed from CreditWatch, where they were placed on Feb. 26, 2002, following the collapse of Deutsche Telekom's planned sale of cable assets to Liberty Media Corp. (BBB-/Stable/--). The outlook is stable. Standard&Poor's will hold a teleconference today, Monday, April 8, 2002, at 4:00 p.m. British Summer Time (5:00 p.m. Central European Time; 11:00 a.m. Eastern Time) to discuss the rating actions on Deutsche Telekom. See section "Teleconference Instructions"
