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EXHIBIT 11


COMPUTATION OF EARNINGS PER SHARE


BELLSOUTH CORPORATION

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|--------------------------------------------------------------------------------------------------------------------------------- |  | -------------------------------- | ------ | ---- |  | ---- | ----- |  |  | - | ----- |  |  | 
|                                                                                                                                  |  |                                  |        |     
|                                                                                                                                  |  | For the years ended December 31, |        |     
|                                                                                                                                  |  |                                 
|                                                                                                                                  |  |                                 
|                                                                                                                                  |  | 2002                             |        | 2003 |  | 2004 |       | 
|                                                                                                                                 
|                                                                                                                                 
|Earnings Per Share 
    Basic:                                                                                                   |  |                                  |        |      |  |      |       |  |  |   |       |  |  | 
|Income From Continuing Operations Before
    Discontinued Operations and Cumulative Effect of Changes in
    Accounting Principle |  | $                                | 3,475  |      |  | $    | 3,488 |  |  | $ | 3,394 |  |  | 
|Discontinued Operations, net of tax                                                                                               |  |                                  | (867   | )    |  |      | 101   |  |  |   | 1,364 |  |  | 
|Cumulative Effect of Changes in Accounting
    Principle, net of tax                                                              |  |                                  | (1,285 | )    |  |      | 315   |  |  |   |      |  |  | 
|                                                                                                                                 
|Net Income                                                                                                                        |  | $                                | 1,323  |      |  | $    | 3,904 |  |  | $ | 4,758 |  |  | 
|                                                                                                                                 
|Weighted Average Shares Outstanding                                                                                               |  |                                  | 1,870  |      |  |      | 1,848 |  |  |   | 1,832 |  |  | 
|Earnings Per Common Share Before Discontinued
    Operations and Cumulative Effect of Changes in Accounting
    Principle         |  | $                                | 1.86   |      |  | $    | 1.89  |  |  | $ | 1.85  |  |  | 
|Discontinued Operations, net of tax                                                                                               |  |                                  | (0.46  | )    |  |      | 0.05  |  |  |   | 0.74  |  |  | 
|Cumulative Effect of Changes in Accounting
    Principle, net of tax                                                              |  |                                  | (0.69  | )    |  |      | 0.17  |  |  |   |      |  |  | 
|                                                                                                                                 
|Earnings Per Share*                                                                                                               |  | $                                | 0.71   |      |  | $    | 2.11  |  |  | $ | 2.60  |  |  | 
|                                                                                                                                 
|                                                                                                                                 
|Earnings Per Share 
    Diluted:                                                                                                 |  |                                  |        |      |  |      |       |  |  |   |       |  |  | 
|Income From Continuing Operations Before
    Discontinued Operations and Cumulative Effect of Changes in
    Accounting Principle |  | $                                | 3,475  |      |  | $    | 3,488 |  |  | $ | 3,394 |  |  | 
|Discontinued Operations, net of tax                                                                                               |  |                                  | (867   | )    |  |      | 101   |  |  |   | 1,364 |  |  | 
|Cumulative Effect of Changes in Accounting
    Principle, net of tax                                                              |  |                                  | (1,285 | )    |  |      | 315   |  |  |   |      |  |  | 
|                                                                                                                                 
|Net Income                                                                                                                        |  | $                                | 1,323  |      |  | $    | 3,904 |  |  | $ | 4,758 |  |  | 
|                                                                                                                                 
|Weighted Average Shares Outstanding                                                                                               |  |                                  | 1,870  |      |  |      | 1,848 |  |  |   | 1,832 |  |  | 
|Incremental shares from assumed exercise of stock
    options and payment of performance share awards                             |  |                                  | 6      |      |  |      | 4     |  |  |   | 4     |  |  | 
|                                                                                                                                 
|Diluted Shares Outstanding                                                                                                        |  |                                  | 1,876  |      |  |      | 1,852 |  |  |   | 1,836 |  |  | 
|                                                                                                                                 
|Earnings Per Common Share Before Discontinued
    Operations and Cumulative Effect of Changes in Accounting
    Principle         |  | $                                | 1.85   |      |  | $    | 1.88  |  |  | $ | 1.85  |  |  | 
|Discontinued Operations, net of tax                                                                                               |  |                                  | (0.46  | )    |  |      | 0.05  |  |  |   | 0.74  |  |  | 
|Cumulative Effect of Changes in Accounting
    Principle, net of tax                                                              |  |                                  | (0.68  | )    |  |      | 0.17  |  |  |   |      |  |  | 
|                                                                                                                                 
|Earnings Per Share *                                                                                                              |  | $                                | 0.71   |      |  | $    | 2.11  |  |  | $ | 2.59  |  |  | 
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|- |  | --------------------------------------------------
|* |  | Earnings per share may not sum due to
    rounding