Document:

SBC COMMUNICATIONS INC.

                              Officers' Certificate
                              ---------------------

                  Pursuant to Section 2.02(a) of the Indenture

A.   Pursuant to Section 2.02(a) of the Indenture, dated as of November 1, 1994
     (the "Indenture"), between SBC Communications Inc. (the "Company") and The
     Bank of New York, as Trustee (the "Trustee"), and pursuant to the
     resolutions of the Board of Directors of the Company adopted on April 28,
     2000 (the "Resolutions"), attached hereto as Annex A, the undersigned
     officers, Donald E. Kiernan, Senior Executive Vice President and Chief
     Financial Officer, and Michael D. Wagner, Assistant Treasurer, do hereby
     certify that there is hereby established a Series (as that term is used in
     the Indenture) of the Securities (as that term is used in the Indenture) to
     be issued under the Indenture, which Series of Securities shall have the
     terms set forth below (unless otherwise defined, all capitalized terms
     shall have the meanings ascribed to them in the Indenture):

     1.      The title of the Securities of the Series is "Medium-Term Notes,
             Series A, Due Nine Months or More from Date of Issue" (the
             "Notes").

     2.      The aggregate principal amount of the Notes which may be
             authenticated and delivered under the Indenture (except for Notes
             authenticated and delivered upon transfer of, or in exchange for,
             or in lieu of, other Notes pursuant to Section 2.08, 2.09, 2.12,
             3.06 or 9.05 of the Indenture) is unlimited.

     3.      The date on which the principal of each of the Notes is payable
             shall be any Business Day (as defined in the Prospectus, as defined
             in Paragraph 4 below) from nine months or more from its date of
             issue, as established on behalf of the Company by any officer of
             the Company designated by resolution of the Board of Directors or
             the delegate of any such officer (each of the foregoing being an
             "Authorized Officer") from time to time, as evidenced by the
             settlement instructions (the "Settlement Instructions") furnished
             by the Company from time to time to the Trustee, by facsimile
             transmission or in written schedules, in each case providing
             substantially the information contained in Schedule A hereto.

     4.      The rate or rates, or the method of determining the rate or rates,
             at which each of the Notes shall bear interest shall be determined
             and established by an Authorized Officer from time to time, as
             evidenced by the Settlement Instructions, and shall include those
             methods set forth in the

<PAGE>

             prospectus dated May 25, 2000, a prospectus supplement, dated
             August 28 , 2000, and any amendment or supplement thereto
             (collectively, the "Prospectus") relating to the Notes. Each Note
             will bear interest from its issue date, or, in the case of Notes
             issued upon transfer or exchange, from the most recent Interest
             Payment Date (as defined in the Prospectus) to which payment of
             interest has been made or duly provided for. Interest will be
             payable to the person in whose name a Note (or any Predecessor
             Note) is registered at the close of business on the Record Date
             next preceding the Interest Payment Date; provided, however, that
             interest payable at maturity and upon redemption will be payable to
             the person to whom principal shall be payable. Unless otherwise
             determined by an Authorized Officer, as evidenced by the Settlement
             Instructions, the Interest Payment Dates for Notes bearing interest
             at a fixed rate ("Fixed Rate Notes") shall be February 1 and August
             1 of each year, and the Record Date with respect to any Interest
             Payment Date shall be the date fifteen (15) calender days
             immediately preceding such Interest Payment Date. The Interest
             Payment Dates for Notes bearing interest at a rate determined by
             reference to an interest rate formula ("Floating Rate Notes") shall
             be determined and established on behalf of the Company by an
             Authorized Officer from time to time, as evidenced by the
             Settlement Instructions. Unless otherwise determined by an
             Authorized Officer, as evidenced by the Settlement Instructions,
             the Record Date with respect to any Interest Payment Date for
             Floating Rate Notes shall be the date fifteen (15) calender days
             immediately preceding such Interest Payment Date. Notwithstanding
             the foregoing, the first payment of interest on any Note originally
             issued between a Record Date and an Interest Payment Date will be
             made on the Interest Payment Date following the next succeeding
             Record Date and will be payable to the person to whom the Note
             shall have been issued.

     5.      Interest (other than interest payable at maturity and upon
             redemption) on Notes in definitive form will be paid by check and
             mailed to the address of the person entitled thereto as it appears
             in the Security Register. Notwithstanding the foregoing, a holder
             of U.S. $10,000,000 or more in aggregate principal amount of Notes
             of like tenor and term (or a holder of the equivalent thereof in a
             specified currency other than U.S. dollars) shall be entitled to
             receive such interest payments in immediately available funds, but
             only if appropriate instructions have been received in writing by
             the Paying Agent on or prior to the applicable Record Date.
             Interest (other than interest payable at maturity and upon
             redemption) on Notes in global form will be paid by wire transfer
             to The Depository Trust Company or its nominee in accordance with
             the Medium-Term

                                       -2-

<PAGE>

             Notes, Series A, Administrative Procedures. The principal, premium,
             if any, and interest due at maturity or upon redemption, as the
             case may be, on the Notes shall be payable at the office or agency
             of the Company maintained in the Borough of Manhattan, The City of
             New York for that purpose and will be made in immediately available
             funds, provided that such Note is presented to the Paying Agent in
             time for the Paying Agent to make such payments in such funds in
             accordance with its normal procedures.

     6.      If an Initial Redemption Date for a Note is determined by an
             Authorized Officer, as evidenced in any Settlement Instructions,
             such Note shall be redeemable at the option of the Company on or
             after a specified date prior to maturity on at least 30 days', but
             not more than 60 days', notice to the holders of such Note, at
             prices declining from par or a specified premium to par after a
             later date, together with the accrued interest to the date of
             redemption, all as may be determined by an Authorized Officer, as
             evidenced by the Settlement Instructions.

     7.      There is no obligation of the Company to redeem, repay or purchase
             the Notes pursuant to any sinking fund or analogous provision. The
             Notes may be subject to repayment at the option of a holder thereof
             on a date or dates specified prior to maturity on at least 30
             days', but no more than 45 days', notice to the Trustee of the
             holder's exercise of its repayment option, at certain prices
             together with accrued interest to the date of repayment, all as may
             be determined by an Authorized Officer, as evidenced by the
             Settlement Instructions.

     8.      Unless otherwise specified in the Prospectus, Notes shall be issued
             only in registered form in minimum denominations of U.S. $1,000 and
             any amount in excess thereof that is an integral multiple of U.S.
             $1,000 or, in the case of Notes denominated in a Specified Currency
             other than U.S. dollars, the authorized denominations set forth in
             the Prospectus.

     9.      [Not applicable.]

     10./15. The Notes shall be issued in fully registered form and shall be
             represented by either a global certificate registered in the name
             of a nominee of The Depository Trust Company or other depository,
             or a certificate issued in definitive form, as specified in the
             Prospectus.

     11.     [Not applicable.]

                                       -3-

<PAGE>

     12.     The Notes shall be denominated, and principal of and premium, if
             any, and interest on the Notes shall be payable, in U.S. dollars or
             in other applicable currencies or currency units, including the
             Euro.

     13.     [Not applicable.]

     14.     [Not applicable.]

     15.     [See 10. above.]

     16.     Any other terms of the Notes (which terms shall not be inconsistent
             with this Officers' Certificate or the provisions of the Indenture)
             shall be determined and established by an Authorized Officer from
             time to time, as evidenced by the Settlement Instructions,
             including any changes to the terms set forth in the forms of the
             Fixed Rate Notes and the Floating Rate Notes, attached hereto as
             Annex B, and the Prospectus, attached hereto as Annex C.

     17.     The forms of the Fixed Rate Notes and the Floating Rate Notes are
             hereby approved in the form attached as Annex B.

     18.     [Not applicable.]

B.   Each of the undersigned has read the Indenture, including the provisions of
     Section 2.02 and the definitions relating thereto, and the Resolutions. In
     the opinion of each of the undersigned, he has made such examination or
     investigation as is necessary to enable him to express an informed opinion
     as to whether or not all the conditions precedent provided in the Indenture
     relating to the establishment of the form and terms of a Series of
     Securities under the Indenture, designated as the Notes in this Officers'
     Certificate, have been complied with. In the opinion of the undersigned,
     all such conditions precedent have been complied with.

                                       -4-

<PAGE>

         IN WITNESS WHEREOF, the undersigned have hereunto executed this
Officers' Certificate as of the 28th day of August, 2000.

                                                   /s/ Donald E. Kiernan
                                               ---------------------------------
                                                     Donald E. Kiernan
                                               Senior Executive Vice President,
                                                   Chief Financial Officer

                                                   /s/ Michael D. Wagner
                                               ---------------------------------
                                                       Michael D. Wagner
                                                      Assistant Treasurer

                                       -5-FORM OF FACE OF FIXED RATE NOTE

[Insert any legend required by the IRC]

Registered                                                      Principal Amount
                             SBC COMMUNICATIONS INC.            $
No. A-                                                          CUSIP

                           MEDIUM-TERM NOTE, SERIES A
                   Due Nine Months or More From Date of Issue

If  applicable,  the "Total  Amount of OID,"  "Yield to  Maturity"  and "Initial
Accrual  Period  OID"  (computed  under the  Approximate  Method)  below will be
completed  solely for the purpose of applying  the federal  income tax  Original
Issue Discount ("OID") rules.

ISSUE PRICE:                            ADDITIONAL TERMS:

ORIGINAL ISSUE DATE:                    MATURITY DATE:

INTEREST RATE:                          TOTAL AMOUNT OF OID:

RECORD DATES:                           YIELD OF MATURITY:

INTEREST PAYMENT DATES:                 INITIAL ACCRUAL PERIOD OID:

SPECIFIED CURRENCY:                     EXCHANGE RATE AGENT:

MINIMUM DENOMINATIONS:
(Applicable only if Specified
Currency is other than U.S. Dollars)

INITIAL REDEMPTION DATE:                THE OPTIONAL  REDEMPTION  PRICE SHALL BE
                                        ___%  OF THE  PRINCIPAL  AMOUNT  OF THIS
                                        NOTE TO BE REDEEMED AND SHALL DECLINE AT
                                        EACH ONE YEAR ANNIVERSARY OF THE INITIAL
                                        REDEMPTION DATE BY ___% OF THE PRINCIPAL
                                        AMOUNT TO BE REDEEMED UNTIL THE OPTIONAL
                                        REDEMPTION   PRICE   IS   100%  OF  SUCH
                                        PRINCIPAL  AMOUNT.

OPTIONAL REPAYMENT DATE(S):

REPAYMENT TERMS:

<PAGE>

SBC COMMUNICATIONS INC., a Delaware corporation (herein called "SBC"), for value
received, hereby promises to pay to ___________________________________________,
or registered assigns, the principal sum  of___________________________  dollars
($__________ on the Maturity Date specified  above,  and to pay interest on said
principal sum, on the Interest Payment Dates specified above and on the Maturity
Date, commencing on the next Interest Payment Date succeeding the Original Issue
Date specified  above, at the Interest Rate specified  above,  from the Original
Issue  Date or the most  recent  date to which  interest  has been  paid or duly
provided for,  until the principal  hereof  becomes due and payable,  and on any
overdue  principal and (to the extent that the payment of such interest shall be
legally  enforceable)  on any overdue  installment  of interest at the  Interest
Rate. The interest so payable,  and punctually  paid or duly provided for on any
Interest  Payment  Date,  will be paid to the  person in whose name this Note is
registered on the close of business on the Record Date specified  above (whether
or not a Business Day (as defined  below)) next preceding such Interest  Payment
Date,  unless the Original  Issue Date occurs  between such Record Date and such
Interest  Payment  Date, in which case the interest will be paid on the Interest
Payment Date  following the next  succeeding  Record Date to the Person in whose
name the Note shall have been registered on the Original Issue Date.  Principal,
premium, if any, and interest payable on the Maturity Date or the date fixed for
redemption, as the case may be, will be payable to the Person in whose name this
Note is registered on the Maturity Date or the date fixed for redemption, as the
case may be.

Payment of the principal,  premium, if any, and interest on this Note due at the
Maturity  Date or upon  redemption  will  be made at the  Maturity  Date or upon
redemption,  as the case may be, upon  presentation of this Note, in immediately
available  funds,  at the office or agency of SBC maintained for that purpose in
the Borough of Manhattan, The City of New York. Payment of interest on this Note
due on an  Interest  Payment  Date  will be  paid,  if the  Note is not a Global
Security,  by check mailed to the address of the Person entitled thereto as such
address  shall appear in the Note Register  (notwithstanding  the  foregoing,  a
holder of U.S.  $10,000,000  or more in aggregate  principal  amount of Notes of
like  tenor  and term (or a holder  of the  equivalent  thereof  in a  Specified
Currency  other than U.S.  dollars)  shall be entitled to receive such  interest
payments in immediately  available funds,  but only if appropriate  instructions
have been received in writing by the Paying Agent on or prior to the  applicable
Record  Date),  and if the Note is a Global  Security,  by wire  transfer to The
Depository  Trust  Company or its nominee,  in accordance  with the  Medium-Term
Notes, Series A Administrative  Procedures.  Any interest not punctually paid or
duly provided for shall be payable as provided in the  Indenture.  Interest will
be computed on the basis of a 360-day year of twelve 30-day months.

As used herein,  "Business  Day" means any day, other than a Saturday or Sunday,
on which banks in the city of New York are not required or  authorized by law to
close.

All payments in respect of this Note will be made in U.S. dollars  regardless of
the Specified  Currency  shown above unless the Holder hereof makes the election
described  below.  If the  Specified  Currency  shown  above is other  than U.S.
dollars, SBC or its agent will arrange to convert all

                                       -2-

<PAGE>

payments in respect  hereof  into U.S.  dollars in the manner  described  on the
reverse hereof;  provided,  however, that the Holder hereof may, if so indicated
above, elect to receive all payments in such Specified Currency by delivery of a
written  request to SBC's paying  agent (the "Paying  Agent") in the city of New
York,  which must be received by the Paying Agent on or prior to the  applicable
Record Date or at least fifteen  calendar days prior to the Maturity Date or the
date fixed for  redemption,  as the case may be.  Such  election  will remain in
effect unless and until changed by written  notice to the Paying Agent,  but the
Paying Agent must receive  written  notice of any such change on or prior to the
applicable  Record Date or at least fifteen  calendar days prior to the Maturity
Date or the date fixed for  redemption,  as the case may be. Until the Notes are
paid or payment  therefor is provided  for, SBC will,  at all times,  maintain a
Paying Agent in the city of New York capable of performing the duties  described
herein to be performed by the Paying Agent. If SBC determines that the Specified
Currency  is not  available  for making  payments  in respect  hereof due to the
imposition of exchange controls or other circumstances  beyond SBC's control, or
is no longer used by the government of the country  issuing such currency or for
the  settlement  of  transactions  by  public  institutions  of  or  within  the
international  banking  community,  then the Holder  thereof may not so elect to
receive payments in the Specified  Currency,  and any such outstanding  election
shall be  automatically  suspended,  until  SBC  determines  that the  Specified
Currency is again available for making such payments.

In the event of an  official  redenomination  of the  Specified  Currency  shown
above,  the  obligations of SBC with respect to payments on this Note shall,  in
all cases, be deemed  immediately  following such  redenomination to provide for
payment of that amount of redenominated currency representing the amount of such
obligations immediately before such redenomination.  In no event, however, shall
any adjustment be made to any amount payable hereunder as a result of any change
in the  value of the  Specified  Currency  shown  above  relative  to any  other
currency due solely to fluctuations in exchange rates.

Reference  is made to the  further  provisions  of this  Note  set  forth on the
reverse  hereof,  which shall have the same effect as though  fully set forth at
this place.

This Note shall not be valid or obligatory for any purpose until the certificate
of authentication hereon shall have been manually signed by the Trustee.

                                       -3-

<PAGE>

IN WITNESS  WHEREOF,  SBC  COMMUNICATIONS  INC. has caused this instrument to be
signed in its name by the  facsimile  signatures  of its Senior  Executive  Vice
President and Chief Financial  Officer and Assistant  Treasurer and has caused a
facsimile of its corporate seal to be imprinted hereon.

Dated: _____________                   SBC COMMUNICATIONS INC.

                                       By: ______________________________
                                           Donald E. Kiernan
                                           Senior Executive Vice President,
                                           Chief Financial Officer

                                       By: ___________________________
                                           Michael D. Wagner
                                           Assistant Treasurer

Trustee's Certificate of Authentication

This is one of the Medium-Term Notes of
the series designated herein referred to
in the within-mentioned Indenture.

THE BANK OF NEW YORK, as Trustee

By: ______________________________
      Authorized Signature

Agency for transfer, exchange and payment:   THE BANK OF NEW YORK

                                       -4-

<PAGE>

                       FORM OF REVERSE OF FIXED RATE NOTE

                             SBC COMMUNICATIONS INC.
                           MEDIUM-TERM NOTE, SERIES A

This Note is one of a duly authorized  issue of notes of SBC (the  "Securities")
of the series  specified  on the face hereof  (hereinafter  called the  "Notes")
unlimited  in  aggregate  principal  amount,  issued or to be  issued  under and
pursuant to an indenture  dated as of November 1, 1994 between SBC, and The Bank
of New York,  as Trustee  (the  "Trustee,"  which term  includes  any  successor
Trustee under the Indenture), to which indenture and all indentures supplemental
thereto  (collectively,   the  "Indenture")  reference  is  hereby  made  for  a
description  of the  rights,  limitations  of  rights,  obligations,  duties and
immunities thereunder of the Trustee, SBC and the holders of the Securities. The
Securities may be issued in one or more series,  which  different  series may be
issued in various aggregate  principal  amounts,  may mature at different times,
may bear  interest,  if any, at  different  rates,  may be subject to  different
covenants  and Events of  Default  and may  otherwise  vary as  provided  in the
Indenture.

Unless otherwise  specified on the face hereof, the authorized  denominations of
Notes denominated in U.S. dollars will be U.S. $1,000 and any larger amount that
is an integral  multiple of U.S.  $1,000.  The authorized  denomination of Notes
denominated  in a currency or currency unit other than U.S.  dollars will be set
forth on the face hereof.

References  herein to "U.S.  dollars" or to "U.S.$"  are to the  currency of the
United States of America.

If the  Specified  Currency is other than U.S.  dollars,  the amount of any U.S.
dollar  payment to be made in respect  hereof will be determined by the Exchange
Rate Agent based on the highest firm bid quotation for U.S.  dollars received by
the Exchange Rate Agent at approximately  11:00 a.m., New York City time, on the
second  Business Day preceding the applicable  payment date (or, if no such rate
is quoted on such date, the last date on which such rate was quoted), from three
recognized  foreign  exchange  dealers in the city of New York  selected  by the
Exchange  Rate Agent and approved by SBC (one of which may be the Exchange  Rate
Agent) for the purchase by the quoting  dealer,  for  settlement on such payment
date, of the aggregate amount of the Specified  Currency that would otherwise be
payable on such payment date in respect of all  Securities  denominated  in such
Specified  Currency.  If no such bid quotations are available,  payments will be
made in the Specified  Currency unless such Specified Currency is unavailable as
provided below.

If the Specified  Currency is other than U.S. dollars and the Specified Currency
is  unavailable  due  to  the  imposition  of  exchange  controls  or  to  other
circumstances  beyond SBC's  control,  SBC will be entitled to make  payments in
U.S.  dollars on the basis of the noon  buying  rate in the city of New York for
cable transfers in the Specified  Currency as certified for customs  purposes by
the  Federal  Reserve  Bank of New York (the  "Market  Exchange  Rate") for such
Specified  Currency on the second  Business Day prior to the applicable  payment
date. In the event such Market Exchange Rate

<PAGE>

is not then available, SBC will be entitled to make payments in U.S. dollars (i)
if such Specified Currency is not a composite currency, on the basis of the most
recently  available Market Exchange Rate for such Specified  Currency or (ii) if
such Specified Currency is a composite currency,  in an amount determined by the
Exchange  Rate Agent to be the sum of the results  obtained by  multiplying  the
number of units of each component currency of such composite currency, as of the
most  recent  date on which  such  composite  currency  was used,  by the Market
Exchange Rate for such  component  currency on the second  Business Day prior to
such payment date (or if such Market Exchange Rate is not then available, by the
most recently available Market Exchange Rate for such component currency).

If the official unit of any component  currency is altered by way of combination
or  subdivision,  the number of units of that  currency as a Component  shall be
divided  or  multiplied  in  the  same  proportion.  If two  or  more  component
currencies  are  consolidated  into a  single  currency,  the  amounts  of those
currencies as Components  shall be replaced by an amount in such single currency
equal  to the  sum of the  amounts  of  the  consolidated  component  currencies
expressed in such single currency. If any component currency is divided into two
or more currencies, the amount of that currency as a Component shall be replaced
by amounts of such two or more currencies  having an aggregate value on the date
of division  equal to the amount of the former  component  currency  immediately
before the division.

All currency  exchange costs will be borne by SBC unless the Holder of this Note
has made an election to receive all payments in a Specified  Currency other than
U.S.  dollars.  In that case,  the  Holder of this Note shall bear its  pro-rata
portion of currency  exchange costs, if any, with all other electing  Holders by
deductions from payments otherwise due.

This Note may be redeemed prior to its Maturity Date at the option of SBC on and
after the Initial Redemption Date specified on the face hereof, as a whole or in
part,  at an Optional  Redemption  Price  determined  as  specified  on the face
hereof,  together  with  accrued  interest  to the date  fixed  for  redemption;
provided, however, that if no Initial Redemption Date is so specified, then this
Note may not be redeemed prior to its Maturity  Date;  provided,  further,  that
installments  of interest on this Note whose  stated  maturity is on or prior to
any such date fixed for redemption will be payable to the Holder of this Note of
record at the close of business on the relevant  Record Dates referred to on the
face  hereof,  all as  provided  in the  Indenture.  Notice  of  redemption,  if
applicable,  will be given by mail to Holders of Notes not less than 30 nor more
than 60 days  prior to the date fixed for  redemption,  all as  provided  in the
Indenture.

This Note may be repaid prior to its  Maturity  Date at the option of the Holder
on and after the Optional  Repayment  Date(s) specified on the face hereof, as a
whole or in part,  subject  to the  Repayment  Terms  as  specified  on the face
hereof,  together  with  accrued  interest  to the  date  fixed  for  repayment;
provided,  however,  that if no Optional Repayment Date is specified,  then this
Note may not be repaid  prior to its  Maturity  Date;  provided,  further,  that
installments  of interest on this Note whose  stated  maturity is on or prior to
any such date fixed for repayment  will be payable to the

                                       -2-

<PAGE>

Holder of this Note of record at the close of  business on the  relevant  Record
Dates  referred  to on the  face  hereof,  all  as  provided  in the  Indenture;
provided,  further,  that the repayment option may be exercised by the Holder of
this Note for less  than the  entire  principal  amount of this Note only if the
principal amount of this Note remaining outstanding after repayment,  if any, is
an  authorized  denomination.  Notice of the Holder's  exercise of its repayment
option must be received by the Trustee at the principal  office of the corporate
trust  department  of the Trustee in The City of New York at least 30 days,  but
not more than 45 days, prior to the date fixed for repayment.

In case an Event of Default,  as defined in the  Indenture,  with respect to the
Notes,  shall have  occurred  and be  continuing,  the  principal  hereof may be
declared,  and upon such  declaration  shall  become,  due and  payable,  in the
manner, with the effect and subject to the conditions provided in the Indenture.

If this Note is an OID Note,  the amount  payable in the event of  redemption or
acceleration  of the Maturity  Date, in lieu of the principal  amount due at the
stated Maturity Date hereof,  shall be the Amortized Face Amount of this Note as
of the Redemption Date or the date of such acceleration.

The  "Amortized  Face  Amount" of this Note shall be the amount equal to (a) the
Issue  Price  (as set forth on the face  hereof)  plus (b) that  portion  of the
difference  between the Issue  Price and the  principal  amount  hereof that has
accrued at the Yield to Maturity (as set forth on the face hereof)  (computed in
accordance  with  generally   accepted  United  States  bond  yield  computation
principles) at the date as of which the Amortized Face Amount is calculated, but
in no event  shall the  Amortized  Face  Amount of this Note  exceed  its stated
principal amount.

The  Indenture  contains  provisions  permitting  SBC and the  Trustee  with the
written  consent  of the  Holders  of a  majority  in  principal  amount  of the
outstanding Securities of each series affected by a supplemental indenture (with
each series voting as a class),  to enter into a  supplemental  indenture to add
any  provisions to or to change or eliminate any  provisions of the Indenture or
to modify, in each case in any manner not covered by provisions in the Indenture
relating to amendments and waivers without the consent of Holders, the rights of
the Holders of each such series.  The Holders of a majority in principal  amount
of the outstanding  Securities of each series affected by such waiver (with each
series voting as a class), by notice to the Trustee, may waive compliance by SBC
with any provisions of the Indenture or the Securities of any such series except
a default in the payment of the  principal of or interest on any  Security.  Any
such  consent  or waiver by the  Holder of this  Note  shall be  conclusive  and
binding  upon such  Holder and upon all  future  Holders of this Note and of any
Note issued upon the registration of transfer hereof or in exchange hereof or in
lieu hereof, whether or not a notation of such waiver is made upon this Note.

No  reference  herein to the  Indenture  and no provision of this Note or of the
Indenture  shall alter or impair the  obligation  of SBC,  which is absolute and
unconditional,  to pay the  principal of and interest on this Note at the times,
place and rate, and in the coin or currency, herein prescribed.

                                       -3-

<PAGE>

The Notes are issued in registered form without coupons.

When Notes are  presented  to the  Registrar  with a request to  register  their
transfer or to  exchange  them for an equal  principal  amount of Notes of other
authorized  denominations  and like tenor,  the  Registrar  shall  register  the
transfer or make the exchange if its requirements for such transactions are met.
SBC will not make any charge for any  registration  of transfer or exchange  but
may require the payment by the party requesting such registration of transfer or
exchange  of a sum  sufficient  to cover  any tax or other  governmental  charge
payable in connection therewith.

Ownership  of Notes  shall be proved by the  register  for the Notes kept by the
Registrar.  SBC,  the Trustee and any agent of SBC may treat the person in whose
name a Note is registered as the absolute owner thereof for all purposes.

No director,  officer,  employee or stockholder,  as such, of SBC shall have any
liability for any  obligations  of SBC under this Note, the Indenture or for any
claim  based  on,  in  respect  of or by  reason  of such  obligations  or their
creation.  Each  Holder by  accepting  this Note  waives and  releases  all such
liability. The waiver and release are part of the consideration for the issue of
this Note.

All terms used in this Note which are  defined in the  Indenture  shall have the
meanings assigned to them in the Indenture.

The  Indenture  and this Note shall be governed by and  construed in  accordance
with the laws of the state of New York.

FOR VALUE RECEIVED the  undersigned  hereby  sell(s),  assign(s) and transfer(s)
unto

(PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE)

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
      (please print or typewrite name and address including postal zip code
                                  of assignee)

--------------------------------------------------------------------------------
the within Note and all rights thereunder,  hereby irrevocably  constituting and
appointing

______________________________________________________________    attorney    to
transfer said Note on the books of SBC, with full power of  substitution  in the
premises.

Date:______________________             Signature:______________________________

                                       -4-

<PAGE>

                                        NOTICE: The signature to this assignment
                                        must correspond with the name as written
                                        upon the face of the  within  instrument
                                        in every particular,  without alteration
                                        or enlargement or any change whatever.

                                       -5-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00014-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00014-of-00352.parquet"}]]