6 Investor Conference-Agenda

Telefonica SA
10 October 2007



TELEFONICA, S.A., hereby reports the following:


                                     NOTICE


Tomorrow, October 11th, 2007, TELEFONICA GROUP will host its Sixth Investor
Conference in the city of London. Please find below the Conference Agenda.


08:30    CESAR ALIERTA
         EXECUTIVE CHAIRMAN AND CEO OF TELEFONICA GROUP

09:15    JULIO LINARES
         GENERAL MANAGER FOR COORDINATION, BUSINESS DEVELOPMENT 
         AND SYNERGIES OF TELEFONICA

10:30    ANTONIO VIANA-BAPTISTA
         GENERAL MANAGER OF TELEFONICA ESPANA 

11:30    PETER ERSKINE
         GENERAL MANAGER OF TELEFONICA O2 EUROPA

12:30    JOSE MARIA ALVAREZ-PALLETE
         GENERAL MANAGER OF TELEFONICA LATINOAMERICA

14:30    SANTIAGO FERNANDEZ VALBUENA
         CHIEF FINANCIAL OFFICER OF TELEFONICA

15:15    CESAR ALIERTA (CLOSING REMARKS)
         EXECUTIVE CHAIRMAN AND CEO OF TELEFONICA GROUP 



Live broadcasting of presentations will be available to any interested party at:


http://www.telefonica.es/accionistaseinversores/


Likewise, all the presentations will be previously sent to the Spanish National
Securities Market Commission, and will also be available to the shareholders and
investors on the Company's website.


 Madrid, October 10th, 2007








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