TELEFÔNICA BRASIL S.A.
NOTICE TO THE MARKET
CHANGE OF INDEPENDENT AUDITOR - CVM INSTRUCTION No. 308/99
CNPJ/MF nº 02.558.157/0001?62 - NIRE 35.3.0015881?4
Telefônica Brasil S.A. ("Telefônica Brasil" or "Company"), in
accordance with article 31 of CVM Instruction no. 308/99, as
amended, which determines the rotation of independent
auditors every five years, hereby informs to its shareholders
and the market in general that, on the meeting held on
November 7, 2011, the Company's Board of Directors approved
the hiring of Directa Independent Auditors ("Directa").
Directa will begin its activities from the review of
quarterly information of the first quarter of 2012.
However, Ernst & Young Terco continues as auditor of
Telefônica Brasil S.A. in relation to the financial
statements prepared in accordance with the international
accounting standards (IFRS) for purposes of filling the 20?F
in the Securities and Exchange Commission (SEC).
Additionally, Ernst & Young Terco continues as auditor of the
Telefônica Brasil S.A. subsidiaries (all privately held), for
which there is no requirement of auditors' rotation, namely:
Vivo S.A., A Telecom S.A., Telefónica Data S.A., Telefónica
Sistema de Televisão S.A., Ajato Telecomunicação Ltda., and
its affiliates: Comercial Cabo TV São Paulo S.A., TVA Sul
Paraná S.A., GTR?T Participações e Empreendimentos S.A. and
Lemontree Participações S.A.
São Paulo, November 22, 2011. Gilmar Roberto Pereira
Investor Relations Officer Telefônica Brasil S.A. Investor
Tel: +55 11 7420?1172