Additional Listing

Telefonica SA
5 February 2001


Telefonica, S.A. (Symbol: TEF) has made an application to the UK Listing
Authority ('UKLA') and the London Stock Exchange for 90,517,917 additional
ordinary shares of EURO 1 each of Telefonica, S.A. to be admitted to the
Official List of the UKLA and to be admitted to trading on the London Stock
Exchange.

The new ordinary shares, which are listed on the Madrid Stock Exchange, were
issued pursuant to an offer in exchange for shares in the capital of Tele
Sudeste Participacoes, S.A..

Admission to the Official List is expected to take effect, and dealings are
expected to commence on 6th February, 2001.