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COMPANIA DE TELEFONOS DE CHILE S.A. ANNOUNCES BOARD CHANGES

 SANTIAGO, Chile, May 13 /PRNewswire/ -- Compania de Telefonos de Chile S.A. (NYSE: CTC), today announced that a special shareholders meeting will be convened on June 15, 1993 to elect directors (and their respective alternates) to fill vacancies on its board of directors created by the resignation during the last three months for unrelated reasons of several directors. The names of the directors resigning recently and related information are set forth below:
 Name Date Reason for Resignation
 Luis Terol M. May 1993 Retirement
 Chairman of the Board,
 Series A Director
 Juan Villarzu R., April 1993 To assist with political
 Series B Director campaign
 Enrique Used A. March 1993 To assume position with
 Vice Chairman of another Telefonica subsidiary
 the Board of Directors,
 Series A Director
 Fransisco Ferre F., March 1993 To assume position with
 Series A Director another Telefonica subsidiary.
 Mr. Oscar Garreton, a director since 1991, has assumed Mr. Terol's former position as chairman of the board of CTC, subject to ratification at the June 15, 1993 meeting of shareholders.
 Compania de Telefonos de Chile S.A., the first South American company to list its shares on the New York Stock Exchange, is the largest telecommunications enterprise in Chile providing local, long distance and international telephone services in 77 percent of the country's territory where 92 percent of Chile's population resides. Additionally, the company operates a cellular network in the two principal metropolitan areas of Chile, Santiago and Valparaiso.
 -0- 5/13/93
 /CONTACT: Alejandro Rivera, head of investor relations of Compania de Telefonos de Chile, 011-562-696-1147, or Felicia Vonella of Dewe Rogerson, Inc., 212-688-6840, for Compania de Telefonos de Chile/
 (CTC)


CO: Compania de Telefonos de Chile S.A. ST: IN: TLS SU: PER

TS-OS -- NY082 -- 8290 05/13/93 16:22 EDT
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Date:May 13, 1993
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/ C O R R E C T I O N -- COMPANIA DE TELEFONOS DE CHILE S.A. /
CTC ANNOUNCES MANAGEMENT CHANGES

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