Filing of 2009 Annual Report 20F

TELEFÓNICA: FILING OF 2009 ANNUAL REPORT ON FORM 20-F

Madrid, March 26, 2010. - Telefónica, S.A. filed today with the U.S. Securities and Exchange Commission its annual report on form 20-F for the year ended December 31, 2009. A copy of this report is available on the Company's website at the shareholders and investors' section:

http://www.telefonica.com/en/shareholders_investors/html/financyreg/20f.shtml

Moreover, Telefónica's shareholders -and holders of Telefónica's American Depositary Shares- may obtain, free of charge, a printed copy of the Company's complete audited financial statements for the period ended December 31, 2009. For a copy, requests should be addressed to:

Shareholders Office Investors Relation Department 

Ronda de la Comunicación, s/n Ronda de la Comunicación, s/n

28050 Las Tablas -Madrid- 28050 Las Tablas -Madrid-

SPAIN SPAIN

Toll free number (calls within Spain): Tel. +34 91 482 8700

900 111 004 Fax. +34 91 482 8600

Fax: + 34 91 482 7987 Email: [email protected]

Email: [email protected]