Result of AGM

RNS Number : 3760U

Telefonica SA

23 June 2009

TELEFÓNICA, S.A., as provided in article 82 of the Spanish Stock Market Act (Ley del Mercado de Valores) hereby informs of the following:

SIGNIFICANT EVENT

The Annual General Shareholders' Meeting of TELEFÓNICA, S.A. held at second call today, June 23rd, 2009, with the participating of 81,287 shareholders, present or represented, holding 2,852,676,779 shares representing 60.63% of the share capital of the Company, has approved by an absolute majority of votes (an average of 92.54% of the shares at the Meeting placed votes in favor) all the draft resolutions submitted by the Board of Directors for deliberation and vote by the General Shareholders' Meeting.