Conference for investors

Telefonica SA
08 October 2003

'Telefonica, S.A.' and in its name and behalf Mr Antonio J. Alonso Ureba,
General Secretary and Secretary of the Board of Directors hereby informs of the
following:

The Company intends to hold a Conference for investors and analysts on October
9th and 10th. Over these two days a series of presentations will be held on the
strategic, operative and economic- financial outlook for Telefonica and its
business lines.

All the presentations will be sent to the Spanish National Securities Market
Commission and to the regulatory bodies of the different markets where the
Company's securities are traded .All these presentations will also be available
on the Telefonica's Investor Relations' website (www. telefonica.com/ir), where
any interested party may obtain information.


                                                         Madrid, October 8, 2003


Mr. Antonio Alonso Ureba

General Secretary and Secretary to the Board of Directors



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