<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRAC FROM AT&T- FIRST
EXCHANGE SERIES IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS
</LEGEND>

<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               DEC-31-1999
<INVESTMENTS-AT-COST>                      267,206,552
<INVESTMENTS-AT-VALUE>                   2,652,463,693
<RECEIVABLES>                                1,863,433
<ASSETS-OTHER>                               2,751,838
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                           2,657,078,961
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    3,502,689
<TOTAL-LIABILITIES>                          3,502,689
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                 2,497,044,400
<SHARES-COMMON-STOCK>                       13,016,125
<SHARES-COMMON-PRIOR>                       13,657,832
<ACCUMULATED-NII-CURRENT>                    1,128,610
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                   155,103,265
<NET-ASSETS>                             2,653,576,275
<DIVIDEND-INCOME>                           39,152,924
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (571,595)
<NET-INVESTMENT-INCOME>                     38,581,329
<REALIZED-GAINS-CURRENT>                   127,737,243
<APPREC-INCREASE-CURRENT>                  155,403,265
<NET-CHANGE-FROM-OPS>                      321,721,837
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                   39,819,444
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                       15,749,174
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                    641,707
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                     140,284,709
<ACCUMULATED-NII-PRIOR>                      2,561,528
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                      0
<AVERAGE-NET-ASSETS>                                 0
<PER-SHARE-NAV-BEGIN>                                0
<PER-SHARE-NII>                                      0
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                      0


</TABLE>