Telefonica Moviles Signs Exclusive Agreements with World's Leading Videogame Makers, to Enhance the Global Offering of Its Subsidiaries.

MADRID, Spain -- Telefonica Moviles (NYSE:TEM):

--Exclusive global agreements signed with I-play and THQ, world leaders in mobile game development, will enable Telefonica Moviles' subsidiaries to offer the latest in mobile video games.

--The agreements are part of Telefonica Moviles' global content management model (the only one of its kind in the Spanish- and Portuguese-speaking markets), which allows the Group's operators to offer its customers high-quality content under advantageous terms.

Telefonica Moviles has signed its first global agreements in the game content market. Through these agreements, the Group's subsidiaries will be able to improve their mobile gaming content offer, allowing all customers exclusive access to the world's latest and most advanced games.

These agreements will allow Telefonica Moviles' customers in Argentina, Brazil, Chile, Colombia, Ecuador, El Salvador, Guatemala, Panama, Peru, Mexico, Spain, Nicaragua, Uruguay and Venezuela, to enjoy in exclusivity the games offered by I-play and THQ, world leaders in entertainment and mobile gaming content. Customers of Telefonica Moviles' subsidiaries will be able to access the latest mobile games in their respective markets.

According to Antonio Viana-Baptista, Chairman and CEO of Telefonica Moviles: "Telefonica Moviles' position as the world's second-largest multinational mobile company, along with our global management model, put us in a privileged position to allow our operators to offer the best to our customers in their respective markets. On the one hand, we make the most innovative and exclusive services available to our customers through global agreements such as those for mobile gaming signed with I-play and THQ. At the same time, we achieve better costs for our subsidiaries, which mean better terms for our customers".

I-play currently offers popular games such as The Fast and the Furious 3D, Colin McRae Rally 2005, EA Tiger Woods 2005, EA Sports FIFA Football 2005 and Maria Sharapova Tennis. I-play is also preparing to launch the official Winter Olympics game (Turin 2006), which is sure to receive a great response in the market.

THQ's current game catalogue includes sports, action ("Arcade") and skills games, as well as games for girls. Games offered include Moto GP and Moto GP2 from the World Motorcycle Championship, various NBA basketball games, MLB major league baseball games, NHL American football games and NFL ice hockey games; popular comic book and cartoon characters HelloKitty and SpongeBob; and other games which are highly successful in other markets. Some of these games are available in 3D.

These games will be developed and launched gradually, in line with the technological capacity of each of the Group's operators.

A unique management model in the Spanish- and Portuguese-speaking markets.

These services are exclusively available to Telefonica Moviles' customers, thanks to the global management model pursued by the Company. This management mode, which few companies in the world would be able to develop, is unique in the Spanish- and Portuguese-speaking mobile telephony markets.

The combination of an efficient global management model and Telefonica Moviles' position as the second largest mobile telephony operator in the world, and as part of the Telefonica Group, means that Telefonica Moviles' subsidiaries have access to content of the highest quality, under advantageous terms.

At the same time, this model allows Telefonica Moviles to reinforce its position at the forefront of innovative solutions in the global cellular telephony sector.

One example of the successful global management model is the agreement signed in March with LucasFilms to distribute content related to the film "Star Wars: Episode III Revenge of the Sith" exclusively to Telefonica Moviles' subsidiaries, which was a huge success in Spain and Latin America.

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