Re Agreement

Telefonica SA
13 December 2000



Terra Networks, S.A. the Internet company belonging to the Telefonica Group, and
the shareholders of the company Bumeran.com International Holdings, Ltd., head
of the Bumeran Group, which provides human resources, advertising and
communications services and is responsible for de promoting of services
principally related with Internet (www.Bumeran.com) through its subsidiaries in
Argentina, Brazil, Chile, Mexico and Venezuela, have today signed the agreement
by which Terra Networks, S.A. is to acquire a majority controlling stake in the
Bumeran group.

Madrid, December 12th, 2000