Change to Board of Directors

Telefonica SA
31 August 2000


            JUAN JOSE NIETO, CHAIRMAN AND CEO OF TELEFONICA MEDIA


Madrid, August 30th, 2000 - The Board of Directors of Telefonica, at its meeting
held today, unanimously approved the appointing of Juan Jose Nieto as Chairman
and CE of Telefonica Media. Up until today, Mr Nieto held the position of chief
operating officer in this same company, the Telefonica subsidiary responsible
for its media business.