Telefónica Chooses Verizon Global Wholesale for Domestic U.S. Wireless Service Delivery

Service Provided Through Mobility Offering Will Carry Telefónica’s Branding

NEW YORK - Telefónica, one of the world’s largest telecommunications companies in terms of market capitalization, will support its multinational customer requirements for wireless services in the U.S. with a "white label" service provided under contract with Verizon Global Wholesale.

"It’s very gratifying to be selected by Telefónica for such an important element of its U.S. service offering" said Quintin Lew, senior vice president of marketing for Verizon Global Wholesale. "Our Mobility Solutions offering will provide strong support to Telefónica’s strategy of fully supporting its domestic U.S. customers"

Telefónica serves more than 800 multinational corporation customers - many of which require services in the U.S. - through Telefónica Multinational Solutions. Under the terms of the mobility contract signed this week, Telefónica will manage and brand the wireless services it provides to its MNC customers in the U.S., as well as bundle the services with others it offers.

Fernando Astiaso, Telefónica Multinational Solutions director, said, "The agreement with Verizon enables us to offer to our MNC customers a high-quality wireless service in the USA, enhancing our managed mobility value proposition to our multinational customers in this important market"

The agreement was signed by Telefónica International Wholesale Services (TIWS) on behalf of the Telefónica Group. José Ramón Vela, CEO of TIWS, said, "This partnership reinforces our current relationship and is key for us to support our customers in the USA" Telefónica has a number of enterprise-sized customers in the U.S., including major European banking institutions.

Verizon Global Wholesale meets the needs of wholesale customers around the globe by providing offerings ranging from complex data technologies such as Ethernet, SONET and IP services to value-added services like data security, cloud computing and professional services as well as traditional voice services.

Verizon Global Wholesale’s Mobility Service includes wireless voice, text messaging and broadband packages. It provides a choice between per minute and per megabyte bulk pricing, as well as bundled voice and data plan pricing options. Through these options, as well as the availability of a suite of BlackBerry solutions, wholesale clients can customize their offerings to address the specific needs of their customers. Verizon Global Wholesale also provides technical expertise in sales and support and carries an inventory of white-labeled handsets and aircards available for purchase and customization.

About Verizon
Verizon Communications Inc. (NYSE, NASDAQ: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, serving nearly 93 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon last year generated consolidated revenues of more than $107 billion. For more information, visit www.verizon.com.

About Telefonica
Telefónica is one of the largest telecommunications companies in the world in terms of market capitalization. Its activities are centered mainly on the fixed and mobile telephony businesses with broadband as the key tool for the development of both. The company has a significant presence in 25 countries and a customer base that amounts close to 274 million accesses around the world. Telefonica has a strong presence in Spain, Europe and Latin America, where the company focuses an important part of its growth strategy. Telefónica is a 100% listed company and its shares are traded on the main international stock markets. www.telefonica.com.

Telefónica International Wholesale Services is the organization within the Telefónica Group that provides global telecommunication services for fixed and mobile carriers, ISPs and content providers. Its integrated and competitive portfolio includes international voice, IP, capacity, satellite services, international services for corporations, mobility services and platform services. More information is available on: www.telefonica-wholesale.com. Telefónica Multinational Solutions is a central organization that is aligned and works in conjunction with the Telefónica operating companies to deliver services to MNC customers. More information about Telefónica Multinational Solutions is available on: www.multinationalsolutions.telefonica.com.