PUBLICLY-HELD COMPANY
CNPJ/MF nº 02.558.157/0001-62 - NIRE 35.3.0015881-4

Telefônica Brasil S.A. ("Telefônica Brasil" or "Company"), hereby informs to the market that at Board of Directors held on this date, approved a proposal to change its structure, wich will be decided at the General Shareholders' Meeting opportunely convoked.
The Board of Executive Officers of Financial and Investor Relations will assume the activities of the Board of Executive Officers of Controller (which no longer will exist) and will be renamed the Board of Executive Officers of Financial, Controller and Investor Relations.
At the same meeting the Board of Directors also appointed the name of Mr. Alberto Manuel Horcajo Aguirre to fill the position of Chief Financial, Controller and Investor Relations Officer, whose indication will be accomplished on the first Board Meeting to be held after the General Shareholders' Meeting.
Mr. Gilmar Roberto Pereira Camurra and Mrs. Cristiane Barretto Sales remain in their positions of Chief Financial and Investor Relations Officer and Controller, respectively, until the new structure is approved. The others Board of Executive Officers, not expressly listed in this Notice, remain the same.
São Paulo, December 20th, 2012. Gilmar Roberto Pereira Camurra
Investor Relations Officer
Telefônica Brasil - Investor Relations
Tel: +55 11 3430 8901
Email: ir.br@telefonica.com www.telefonica.com.br/investidores

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