Doc re. 2009 Annual Accounts

Telefónica, S.A. has filed with the Spanish National Securities Market Commission (Comisión Nacional del Mercado de Valores- CNMV) the Annual Accounts of Telefónica, S.A. and the Consolidated Annual Accounts of Telefónica S.A. and subsidiaries composing the Telefónica Group, both for the year ended December 31, 2009 and including the Annual Report on Corporate Governance for 2009.

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

Financial Service Authority

25 The North Colonnade

Canary Wharf

London

E14 5HS

Madrid, March 23rd, 2010