Additional Listing

Telefonica SA
14 June 2001


Announcement relating to the admission to the Official List of the UK Listing
Authority and listing of additional share capital on the London Stock Exchange


Telefonica, S.A. (Symbol:TEF) has made an application to the UK Listing
Authority ('UKLA') and the London Stock Exchange ('LSE') for 89,203,045
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 LSE.

The new ordinary shares, which are listed on the Madrid Stock Exchange, were
issued pursuant to an increase in the share capital of Telefonica, S.A..

Admission to the Official List of the UKLA is expected to take effect, and
dealings are expected to commence on 15th June, 2001.