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Telefónica de España Deploys Amdocs Billing Platform To Support Its Entire Wireline Customer Base
Single Amdocs platform consolidates support previously provided by numerous disparate billing systems Telefónica de España’s savings expected to reach 60% of maintenance costs in 2005

MADRID, Spain and ST. LOUIS, MO - January 12, 2005 - Telefónica de España (NYSE: TEF), the leading wireline operator in Spain, and Amdocs (NYSE: DOX), the world’s leading provider of billing and CRM software and services for true integrated customer management, announced today that Telefónica de España successfully completed the deployment of the Amdocs billing platform to support all of its wireline operations.

In addition to supplying the Amdocs billing software, Amdocs also provided Telefónica de España with system integration services to support the rollout. As a result, Telefónica de España is now able to rapidly introduce innovative offerings, including new broadband ADSL services, while the company’s operational and maintenance costs are significantly reduced. Savings in maintenance costs alone during 2005 are projected to reach around 60 percent.

The deployment was a successful collaboration between Amdocs and Telefónica Investigación y Desarrallo (Telefónica’s R&D unit). Several disparate legacy billing systems were consolidated, and more than 12 million residential and commercial wireline customers were migrated simultaneously onto the single, comprehensive Amdocs platform in what’s known as a “flash-cut” conversion.

“This is a significant step towards achieving our strategic commitment to consolidate and modernize our business support systems across the company for improved agility, flexibility and profitability, moving us a lot closer to following the strategy for an integrated customer management,” said Horacio Pérez Perdigó, chief information officer of Telefónica de España. “The successful, flash-cut move to the single Amdocs solution is a remarkable achievement for such a large scale, complex project, and the Amdocs selection was key to help Telefónica in this challenge and to ensure a cost-efficient, high quality delivery.”

The Amdocs billing platform will enable Telefónica de España to drive higher customer satisfaction by offering its customers convergent voice and data services and price plans, online pricing tools and advanced customer hierarchies’ support. The Amdocs platform will also enable Telefónica de España to shorten the billing cycle by more than 30 percent. Additionally, replacing several legacy systems with one modernized system will improve operational efficiency and reduce time-to-market for new services, while further enhancing operational flexibility.

“The smooth delivery of the Amdocs billing platform to support all of Telefónica de España’s wireline customers in Spain reinforces Amdocs’ position as the leading provider of comprehensive solutions to Tier One communications services providers, including wireline and wireless players,” said Michael Matthews, chief marketing officer of Amdocs. “The state-of-the-art Amdocs platform enabled Telefónica de España to consolidate multiple billing systems and offer the highest quality of customer service empowered by a single view of the customer. With advanced billing capabilities to support data and emerging services, the Amdocs platform provides Telefónica de España with a foundation for future growth.”

The rollout was completed in stages. With the acquisition and formatting, and error management modules previously deployed, the rollout was now completed for the rating, billing and price plans functionalities of the Amdocs billing system.

About Telefónica de España
Telefónica de España is part of the Telefonica Group, one of the world’s leading telecommunications companies. Telefónica is the leading operator in the Spanish and Portuguese speaking markets and the fifth biggest operator in the world in terms of market capitalisation. Its activities are centered mainly on the fixed and mobile telephony businesses with broadband as the key tool for the development of both of these. The company has a significant presence in 13 countries and has operations in approximately 20. Telefónica has a strong presence in Latin America, where the company operates in eight countries and where it concentrates its growth strategy. Its customer base amounts to nearly 100 million clients.

About Amdocs
Amdocs combines innovative software products and services with deep business knowledge to deliver true integrated customer management to the world’s leading services companies. Our best-in-class billing and CRM products seamlessly link all customer-facing business processes - marketing, sales, ordering, delivery, fulfillment, billing, settlement, service, support, and analytics - resulting in stronger, more profitable customer relationships. Amdocs enables its customers to implement their business strategy with rapid return on investment, lower total cost of ownership and improved operational efficiencies. A global company, Amdocs employs over 9,500 IT professionals and serves customers in more than 40 countries around the world. Amdocs reported revenue of over$1.77 billion in fiscal 2004. For more information, visit Amdocs at www.amdocs.com.

Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs’ growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs’ ability to grow in the mobile, wireline and IP business segments, adverse effects of market competition, rapid technological shifts that may render the Company’s products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. These and other risks are discussed at greater length in the Company’s filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F, filed on December 30, 2004.

Media Contacts:
Telefónica de España

Dirección de Comunicación de Telefónica de España/ Press Office
Tel: 34-91-584-0909
Fax: 34-91-531-3741
E-Mail: prensa.tesa@telefonica.es
http://www.telefonica.es/saladeprensa

Amdocs
Chris Loncto
Access Communications for Amdocs
Tel: 1-917-522-3524
E-Mail: cloncto@accesspr.com
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