TELEFÔNICA BRASIL S.A.
PUBLICLY HELD COMPANY
CNPJ/MF nº 02.558.157/0001-62 - NIRE: 35.3.0015881-4
NOTICE OF MATERIAL FACT
TELEFÔNICA BRASIL S.A. (current denomination of
Telecomunicações de São Paulo S.A. - TELESP), under the terms
of article 157, paragraph 4 of Law 6404/76, supported by CVM
Instruction No. 358/02, as amended, hereby informs its
shareholders and the market in general that it has notified
GTR Participações Ltda. about its intention to exercise the
call option of Lemontree Participações S.A. common shares and
GTR-T Participações e Emprendimentos S.A. common shares,
property remnants of these, corresponding to 100% (one
hundred percent) of the common shares of such companies
subject to the transfer of the respective shares, through
prior approval of National Agency for Telecommunications -
After the implementation of this operation, Telefônica Brasil
will be the controller of
Gilmar Roberto Pereira Camurra Investor Relations
Officer Telefônica Brasil S.A.
Comercial Cabo TV São Paulo S.A. and of TVA Sul Paraná
São Paulo, October 21, 2011.