Doc re. annual accounts 2005

Telefonica SA
21 April 2005




Telefonica, S.A., has filed with the Spanish National Securities Market
Commission (Comision Nacional del Mercado de Valores - CNMV) the consolidated
annual accounts of Telefonica Group for 2004 financial year.


The aforesaid audited annual accounts will be submitted for approval at the next
Annual General Shareholders' Meeting of the Company, that is tentatively
scheduled for May 24th, at first call, or on the day after, that is, May 25th,
2005, at second call.


Two copies of that document have been submitted to the UKLA and will shortly be
available for inspection at the UKLA's Document Viewing Facility, which is
situated at:


Financial Service Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS



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