Board member resignation

Telefonica SA
30 June 2005



Telefonica S.A., as provided in article 82 of the Spanish Securities Market Act
(Ley del Mercado de Valores) and in accordance with set forth in paragraph 4 of
article 6 of Royal Decree 377/1991, of March 15th, regarding the announcement of
significant participations in quoted companies, hereby reports the following


SIGNIFICANT EVENT

The Board of Directors of the Company, at its meeting held on June 29th, 2005,
has accepted the resignation of Mr. Jose Fonollosa Garcia from his position on
the Board and has thanked him for his work and dedication as member of the
Telefonica's Board.



                      This information is provided by RNS
            The company news service from the London Stock Exchange               GMGKZM