Turk Telekom

Telefonica SA
21 April 2005



                            RAMIRO SANCHEZ DE LERIN

                             General Vice Secretary
                  and Vice Secretary to the Board of Directors

                              TELEFONICA, S.A.



Telefonica S.A., as provided in article 82 of the Spanish Securities Market Act
(Ley del Mercado de Valores), hereby reports the following



NOTICE


Telefonica S.A. hereby declares that, with the due diligence process having
concluded and prior to the specification of the terms of a possible bid, the
Company deems that the appropriate conditions do not exist for Telefonica to
participate in the privatisation of Turk Telekom.



Madrid, April 20th, 2005





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