Telefonica and BBVA Set Three Different Initiatives in Motion Within the Framework of Their Strategic Alliance

* Terra to acquire 49% of Uno-e's share capital



* BBVA to contribute its "call-center" domestic and international

businesses to Atento, in exchange for 9% of the share capital of this

Grupo Telefonica's subsidiary company



* Grupo Telefonica, through Telefonica Media, becomes a BBVA Ticket

shareholder by acquiring 47,5% of the share capital



Apr 23, 2001, 01:00 ET from Grupo Telefonica

    MADRID, Spain, April 23 /PRNewswire/ -- BBVA and Telefonica have today
 announced that they are setting three initiatives in motion within the
 framework of the Strategic Alliance entered into by both corporations on
 February, 11, 2000.  The terms of the agreements include the acquisition by
 Terra of an interest in the share capital of the Internet bank "Uno-e," the
 unification within Atento, a subsidiary company of Grupo Telefonica, of both
 groups' worldwide telephone-based customer-service businesses, as well as
 Telefonica Media's becoming a shareholder in the BBVA Ticket company, a
 company engaged in the electronic sale of tickets.
     The agreements that have been made public today are focused on three of
 the sectors -- e-banking, customer service by telephone and electronic hiring
 of leisure services -- which have shown the best evolutionary trend over the
 last few months, and whose future prospects are the brightest.
 
     An Innovative Project in the Financial Services Industry
     With regard to e-banking, the Board of Directors of Terra, Telefonica's
 Internet affiliate, has ratified the decision to acquire an interest in Uno-e
 ( www.uno-e.com ) amounting to 49% of the share capital, once all the
 appropriate authorizations have been received.
     With Terra's additional backing, Uno-e will have the capability to tackle
 new challenges and to further enhance its already strong rates of growth.  At
 the end of the first quarter of 2001, the company had 80.000 customers
 (a 54% increase over the figure at the end of the year 2000) and was managing
 358 million Euros (128% more than the previous year).
     Uno-e was launched in Spain at the end of March 2000 and is carrying out a
 Financial Supermarket (C) strategy, by providing not only its own products but
 also those developed by other institutions.
 
     Atento to Become a Part of the Business of Telephone-Based Customer
 Services
     BBVA and Telefonica have also agreed to bring under the same roof, that of
 Atento, one of Grupo Telefonica's associated companies, all "call center"
 activities, domestic as well as international, that the banking institution is
 currently offering.  As a result of such an integration, BBVA will hold an
 interest, amounting to 9%, in Atento's share capital.
     Atento is a global unit of Grupo Telefonica, the industry's leading
 company in Spain and Latin America, intended to promote the business of
 Customer Relations Management (CRM).  It is currently operating in
 14 countries; in Latin America (Argentina, Chile, Peru, Brazil, Venezuela,
 Colombia, Guatemala, El Salvador, Puerto Rico and Mexico), Europe (Spain and
 Italy), Africa (Morocco) and Asia (Japan).  In the last fiscal year, Atento
 achieved a turnover of $487 million (slightly over 91 billion pesetas) and has
 55 service centers and a customer portfolio with over 300 clients.
     The assets being contributed by BBVA consist of the company trading under
 the name of Procesos Operativos S.A. (POSA) and Leader Line.  Among other
 activities, these companies used to concentrate those of telemarketing,
 telephone customer-service, telecollection and 'call center'-related
 activities, both for Grupo BBVA and for an important customer portfolio.
     The agreement does envisage the creation of a common activity center to
 provide its customers, not to mention the companies belonging to the BBVA and
 Telefonica Groups of Companies, with global backup, both in Europe and in
 Latin America.
     By joining forces with BBVA, Atento becomes one of the world's leaders in
 its sector by number of jobs and by the volume of its business, in addition to
 having the international expansion process, already under way, significantly
 strengthened.  The company's dimension and geographical diversification allow
 it to shape itself as a global provider of solutions, both comprehensive and
 with a high level of added value, for its clientele.
 
     Cooperation in the Electronic Sale of Tickets
     BBVA and Grupo Telefonica, through Telefonica Media do consider the
 business of issuing and distributing show and event tickets, to be a basic and
 strategic component contributing to the generation of value, to the
 multiplication and to the improvement of the services that their customers are
 to be provided with.  In addition, through the aforesaid company the expansion
 of electronic commerce is being made easier.
     BBVA has been in the business of e-ticketing for the last two years
 through BBVA Ticket, a leading company in the management and distribution of
 tickets for musical events; in the main, for rock concerts.  The company has
 developed its own technology which permits it to carry out an active
 multi-channel distribution strategy, by combining the traditional channels,
 through agreements entered into with retail chains (FNAC and Crisol),
 telephone sales, agreements entered into with several suppliers of software
 for movie theaters, theaters and sports arenas, with the use of channels
 related to the new economy (Internet, mobile phones, 'print at home').
     The decision by Telefonica Media to acquire an interest in BBVA Ticket, is
 part of its strategy to provide all of Telefonica's distribution windows with
 multi-platform contents, products and services:  telephony, free and pay-TV,
 Internet and Broad Band.  Besides, the music contents and the events being
 carried out by FAMA (Telefonica Media's associate company in charge of the
 organization of events and artistic management) are also included.
     BBVA, Telefonica Media will keep share parity in BBVA Ticket, each one
 holding 47,5% of the share capital.
 
 

SOURCE Grupo Telefonica
    MADRID, Spain, April 23 /PRNewswire/ -- BBVA and Telefonica have today
 announced that they are setting three initiatives in motion within the
 framework of the Strategic Alliance entered into by both corporations on
 February, 11, 2000.  The terms of the agreements include the acquisition by
 Terra of an interest in the share capital of the Internet bank "Uno-e," the
 unification within Atento, a subsidiary company of Grupo Telefonica, of both
 groups' worldwide telephone-based customer-service businesses, as well as
 Telefonica Media's becoming a shareholder in the BBVA Ticket company, a
 company engaged in the electronic sale of tickets.
     The agreements that have been made public today are focused on three of
 the sectors -- e-banking, customer service by telephone and electronic hiring
 of leisure services -- which have shown the best evolutionary trend over the
 last few months, and whose future prospects are the brightest.
 
     An Innovative Project in the Financial Services Industry
     With regard to e-banking, the Board of Directors of Terra, Telefonica's
 Internet affiliate, has ratified the decision to acquire an interest in Uno-e
 ( www.uno-e.com ) amounting to 49% of the share capital, once all the
 appropriate authorizations have been received.
     With Terra's additional backing, Uno-e will have the capability to tackle
 new challenges and to further enhance its already strong rates of growth.  At
 the end of the first quarter of 2001, the company had 80.000 customers
 (a 54% increase over the figure at the end of the year 2000) and was managing
 358 million Euros (128% more than the previous year).
     Uno-e was launched in Spain at the end of March 2000 and is carrying out a
 Financial Supermarket (C) strategy, by providing not only its own products but
 also those developed by other institutions.
 
     Atento to Become a Part of the Business of Telephone-Based Customer
 Services
     BBVA and Telefonica have also agreed to bring under the same roof, that of
 Atento, one of Grupo Telefonica's associated companies, all "call center"
 activities, domestic as well as international, that the banking institution is
 currently offering.  As a result of such an integration, BBVA will hold an
 interest, amounting to 9%, in Atento's share capital.
     Atento is a global unit of Grupo Telefonica, the industry's leading
 company in Spain and Latin America, intended to promote the business of
 Customer Relations Management (CRM).  It is currently operating in
 14 countries; in Latin America (Argentina, Chile, Peru, Brazil, Venezuela,
 Colombia, Guatemala, El Salvador, Puerto Rico and Mexico), Europe (Spain and
 Italy), Africa (Morocco) and Asia (Japan).  In the last fiscal year, Atento
 achieved a turnover of $487 million (slightly over 91 billion pesetas) and has
 55 service centers and a customer portfolio with over 300 clients.
     The assets being contributed by BBVA consist of the company trading under
 the name of Procesos Operativos S.A. (POSA) and Leader Line.  Among other
 activities, these companies used to concentrate those of telemarketing,
 telephone customer-service, telecollection and 'call center'-related
 activities, both for Grupo BBVA and for an important customer portfolio.
     The agreement does envisage the creation of a common activity center to
 provide its customers, not to mention the companies belonging to the BBVA and
 Telefonica Groups of Companies, with global backup, both in Europe and in
 Latin America.
     By joining forces with BBVA, Atento becomes one of the world's leaders in
 its sector by number of jobs and by the volume of its business, in addition to
 having the international expansion process, already under way, significantly
 strengthened.  The company's dimension and geographical diversification allow
 it to shape itself as a global provider of solutions, both comprehensive and
 with a high level of added value, for its clientele.
 
     Cooperation in the Electronic Sale of Tickets
     BBVA and Grupo Telefonica, through Telefonica Media do consider the
 business of issuing and distributing show and event tickets, to be a basic and
 strategic component contributing to the generation of value, to the
 multiplication and to the improvement of the services that their customers are
 to be provided with.  In addition, through the aforesaid company the expansion
 of electronic commerce is being made easier.
     BBVA has been in the business of e-ticketing for the last two years
 through BBVA Ticket, a leading company in the management and distribution of
 tickets for musical events; in the main, for rock concerts.  The company has
 developed its own technology which permits it to carry out an active
 multi-channel distribution strategy, by combining the traditional channels,
 through agreements entered into with retail chains (FNAC and Crisol),
 telephone sales, agreements entered into with several suppliers of software
 for movie theaters, theaters and sports arenas, with the use of channels
 related to the new economy (Internet, mobile phones, 'print at home').
     The decision by Telefonica Media to acquire an interest in BBVA Ticket, is
 part of its strategy to provide all of Telefonica's distribution windows with
 multi-platform contents, products and services:  telephony, free and pay-TV,
 Internet and Broad Band.  Besides, the music contents and the events being
 carried out by FAMA (Telefonica Media's associate company in charge of the
 organization of events and artistic management) are also included.
     BBVA, Telefonica Media will keep share parity in BBVA Ticket, each one
 holding 47,5% of the share capital.
 
 SOURCE  Grupo Telefonica