WASHINGTON -- AT&T Latin America Corp. (OTC: ATTL.OB), today announced that the companyhas converted the Chapter 11 process for its U.S. entities to a voluntary Chapter 11 process initiated by the company.The voluntary filing includes the company’s U.S. entities.As announced on Monday, April 14, Matlin Patterson, one of the company’s secured creditors, filed a petition toreorganize ATTL under Chapter 11 in the Southern District of Florida, Miami Division. Matlin Patterson’s petition appliedto AT&T Latin America Corp., as well as its Argentine subsidiary.ATTL had indicated on Monday that the company would move quickly to convert Matlin Patterson’s filing to a voluntaryfiling initiated by the company. "Converting our U.S. entities to a voluntary Chapter 11 process is consistent with ourstrategy to protect the interests of all creditors and stakeholders of ATTL," said Lawrence Young, ATTL Chief FinancialOfficer. Mr. Young indicated that the company is currently assessing various options for the Argentine subsidiary.Additionally, ATTL released preliminary numbers regarding its first quarter performance. The company generatedrevenue of approximately $39mm in the first quarter. For Q1, the company expects to generate an EBITDA margin(before restructuring charges) of 8-12%, a dramatic improvement over the company’s Q4 performance, and $4-6mmabove the company’s Q1 forecast. ATTL also ended the first quarter in a stronger cash position than previouslyexpected. "We exceeded our Q1 budget in all areas and in all countries," said Patricio Northland, CEO, President andChairman of the Board of ATTL. Added Mr. Northland, "We continue to sign up new customers, as well as expand ourbusiness within our existing customer base. Our performance in the first quarter is a testament to the incredibleaccomplishments of our employees in each country. We are exceeding the objectives we set forth in December as partof our restructuring plan. As we move into the second quarter, we continue to see strong, positive momentum in themarketplace with our customers, and within our operations."ATTL is continuing to pursue a potential new owner or investor for the company, and does not anticipate the timing ofthe sale process to be affected by these actions.AT&T Latin America Corp.