Organizational Change

29 Nov 2007 09:14

Telefonica SA29 November 2007 TELEFONICA S.A., as provided in article 82 of the Spanish Stock Market Act(Ley del Mercado de Valores), hereby reports the following SIGNIFICANT EVENT Telefonica, S.A. announces that Mr. Peter Erskine will step down as GeneralManager of Telefonica O2 Europe, retaining his position on the Board ofDirectors of the Company and on its Executive Commission (Comision Delegada), asnon-executive Director. Mr. Matthew Key, currently Chief Executive Officer of O2 UK plc., will replacehim as General Manager of Telefonica O2 Europe and as member of the ExecutiveCommittee (Comite Ejecutivo) of Telefonica, S.A. Madrid, November 29th, 2007. This information is provided by RNS The company news service from the London Stock Exchange