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Telefónica Ends 2012 With Net Profit Of 3,928 Million Euros After Write-Offs Totalling 2,536 Million

During the fourth quarter of 2012, Telefónica advanced further with the transformation of the Company. Telefónica Digital, as part of its strategy to boost innovation and capture opportunities in the digital world, has made significant progress, including the progress with the development of Firefox OS, an HTML5-based Mozilla operating system; the strategic agreement with Microsoft for the creation of a Global Video Platform; or the creation of Telefónica Dynamic Insights, a new global business unit aimed at opening up the new value-creation opportunities offered by the so-called “big data” sector. In addition, Wayra successfully held its first “DemoDay Global” in Miami to present to international investors the advances made by 17 start-ups chosen from the more than 180 ventures so far accelerated. During the quarter Wayra incorporated new academies in Sao Paulo, Munich, Prague and Santiago de Chile, making a total of 13 academies around the world.

A costumer base of 316 million accesses

The Company's total accesses rose 3% year-on-year, reaching 315.7 million at year end 2012, with a significant rise in the number of contract accesses and fixed and mobile broadband accesses. Noteworthy was the 6% year-on-year increase in accesses at Telefónica Latinoamérica (67% of the total). In the fourth quarter, Telefónica Europe posted positive net additions on its total accesses, as a result of strong commercial momentum.

Mobile accesses stood at 247.3 million at the end of the quarter, up 4% on 2011, driven by sustained growth in mobile contract accesses (+7% year-on-year), which now account for 33% of total mobile accesses. Mobile net additions in 2012 totalled 12.1 million accesses (excluding the disconnection of 3.6 million inactive mobile accesses in Spain and Brazil). The Company‟s mobile broadband accesses stood at 52.8 million in December 2012, maintaining a solid 38% year-on-year growth, and representing 21% of mobile accesses (+5 percentage points year-on-year).

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