Investor Conference

Telefonica SA
7 March 2002



Acting on behalf and in representation of 'Telefonica, S.A.', Joaquin de Fuentes
Bardaji, Vicesecretary of the Board of Directors hereby informs of the
following:


The Company intends to hold a Conference for investors and analysts in Sevilla
on March 7th and 8th. Over these two days a series of presentations will be held
on the strategic, operative and economic- financial outlook for Telefonica and
its business lines.


All the presentations will be sent to the Spanish National Securities Market
Commission and to the regulatory bodies of the different markets where the
Company's securities are traded .All these presentations will also be available
on the Telefonica's Investor Relations' website (www. telefonica.com), where any
interested party may obtain information.



Madrid, March 6, 2002



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