Changes in the company supervisory board

Petr Zatloukal, will with effect from June 23, 2008 resign as a member of Supervisory Board of Telefónica O2 Czech Republic and on July 24, 2008 will be replaced by Mr. Eduardo Zaplana.

Telefónica S.A. has appointed Eduardo Zaplana as the company's representative for Europe. The move comes after Telefónica has strengthened its footprint in Europe with the acquisitions of O2 and the former Cesky Telecom, and the purchase of 10% of the voting stock of Telecom Italia. Mr. Zaplana will sit on the Board of Telefónica O2 Europe and Supervisory board of Telefónica O2 Czech Republic. He will report directly to Chairman César Alierta. Thisappointment is aimed at reinforcing the Telefónica international team. Telefónica has an office in Brussels and operations in the UK, Germany, Ireland, Isle of Man, the Czech Republic and Slovakia.

Eduardo Zaplana (Cartagena, 1956) has a degree in law and was the president of the regional government of Valencia from 1995 to 2002. A member of the Spanish parliament and senator, Mr Zaplana was the Spanish Minister for Labour and Social Affairs and government spokesman in 2003 and 2004. Among other government posts, he has been Regional Policy Commissioner for Structure Funds, a Member of the Committee of the Regions (CoR) Bureau and First Vice-President of the CoR.