Document:

FORM OF FACE OF FLOATING 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

ISSUE PRICE:                            INTEREST DETERMINATION DATE:

ORIGINAL ISSUE DATE:                    SETTLEMENT DATE:

INTEREST RESET DATES:                   RECORD DATES:

INITIAL INTEREST RATE:                  INTEREST PAYMENT DATES:

INTEREST RATE:                          BASE RATE:

SPECIFIED CURRENCY:                     MAXIMUM INTEREST RATE:

MINIMUM DENOMINATIONS:                  MINIMUM INTEREST RATE:

EXCHANGE RATE AGENT:                    SPREAD:

MATURITY DATE:                          INTEREST PERIOD:

INDEX MATURITY:                         CALCULATION AGENT:

ADDITIONAL TERMS:                       CALCULATION DATE:

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 an interest rate (the  "Interest  Rate") equal to the
Initial  Interest Rate specified above,  until the first Interest  Determination
Date specified  above  following the first Interest Reset Date specified  above,
and  thereafter,  as determined in accordance  with the provisions  specified in
Annex A hereto,  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 an actual year of actual 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.

                                       -2-

<PAGE>

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 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 its Assistant Treasurer and has caused
a facsimile of its corporate seal to be imprinted hereon.

                                       SBC COMMUNICATIONS INC.

Date:_______________                   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 FLOATING 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 is not then available,  SBC will be
entitled to make payments in U.S. dollars (i) if such Specified

<PAGE>

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 Holder of this Note of
record at the close of the business on the relevant  Record Dates referred to

                                       -2-

<PAGE>

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.

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.

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.

                                       -3-

<PAGE>

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.

                                       -4-

<PAGE>

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:______________________________

                                        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.

             ATTACHMENT: ANNEX A - FLOATING INTEREST RATE PROVISIONS

                                       -5-FORM OF FACE OF GLOBAL FIXED RATE NOTE

[Insert any legend required by the IRC]

Unless this  certificate  is presented by an  authorized  representative  of The
Depository Trust Company, a New York corporation  ("DTC"), to SBC Communications
Inc., or its agent for  registration of transfer,  exchange or payment,  and any
certificate issued is registered in the name of Cede & Co. or in such other name
as is requested by an authorized  representative of DTC (and any payment is made
to  Cede  & Co.  or to  such  other  entity  as is  requested  by an  authorized
representative  of DTC),  ANY TRANSFER,  PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE  BY OR TO ANY PERSON IS  WRONGFUL  inasmuch  as the  registered  owner
hereof, Cede & Co., has an interest herein.

This  Security  is a  Global  Security  within  the  meaning  of  the  Indenture
hereinafter  referred  to and is  registered  in the name of a  Depository  or a
nominee of a  Depository.  Unless and until it is  exchanged in whole or in part
for  Securities in  definitive  form in  accordance  with the  provisions of the
Indenture  and the terms of the  Securities,  this  Global  Security  may not be
transferred  except as a whole by the  Depository to a nominee of the Depository
or by a nominee of the  Depository to the  Depository or another  nominee of the
Depository or by the Depository or any such nominee to a successor Depository or
a nominee of such successor Depository.

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:

<PAGE>

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:

SBC COMMUNICATIONS INC., a Delaware corporation (herein called "SBC"), for value
received,  hereby  promises to pay to Cede & Co.,  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

                                       -2-

<PAGE>

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 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.

                                       -3-

<PAGE>

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.

                                       -4-

<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.

Date: August 28th, 2000                SBC COMMUNICATIONS INC.

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

                                       By:  /s/ Michael D. Wagner
                                           ------------------------------
                                           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

                                       -5-

<PAGE>

                    FORM OF REVERSE OF GLOBAL 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")
limited 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 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.

The Notes are issued in registered form without coupons.

                                       -3-

<PAGE>

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:______________________________

                                        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.

                                      -4-

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