DGAP-PVR:Telefónica Deutschland Holding AG: Release according to Article 26, Section 1 of the WpHG [the German Securities Trading Act] with the objective of Europe-wide distribution

Telefónica Deutschland Holding AG 01.10.2014 17:51 Dissemination of a Voting Rights Announcement, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

I. We received the following notification pursuant to Art. 25a, Sec. 1 WpHG on September 29, 2014: 1. Listed company: Telefónica Deutschland Holding AG Georg-Brauchle-Ring 23-25, 80992 München, Germany 2. Notifier: Morgan Stanley, Wilmington, Delaware, United States 3. Triggering event: Falling below threshold 4. Threshold(s) crossed or reached: 10% and 5% 5. Date at which the threshold is crossed or reached: 25.09.2014 6. Total amount of voting rights: 0.02% (equals 353646 voting rights) calculated from the following total number of voting rights issued: 2233890800 7. Detailed information on the voting rights proportion: Voting rights proportion based on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: 0.01% (equals 157495 voting rights) thereof held indirectly: 0.01% (equals 157495 voting rights) Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG: 0.01% (equals 123387 voting rights) thereof held indirectly: 0.01% (equals 123387 voting rights) Voting rights pursuant to sec. 21, 22 WpHG: 0.003% (equals 72764 voting rights) 8. Detailed information on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: Chain of controlled undertakings: Morgan Stanley International Holdings Inc. Morgan Stanley International Limited Morgan Stanley Group (Europe) Morgan Stanley UK Group Morgan Stanley Investments (UK) Morgan Stanley & Co. International plc ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 06 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 14 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Swaps Maturity: Expiration date: 22 September 2016 II. We received the following notification pursuant to Art. 25a, Sec. 1 WpHG on September 29, 2014: 1. Listed company: Telefónica Deutschland Holding AG Georg-Brauchle-Ring 23-25, 80992 München, Germany 2. Notifier: Morgan Stanley International Holdings Inc., Wilmington, Delaware, United States 3. Triggering event: Falling below threshold 4. Threshold(s) crossed or reached: 10% and 5% 5. Date at which the threshold is crossed or reached: 25.09.2014 6. Total amount of voting rights: 0.01% (equals 157495 voting rights) calculated from the following total number of voting rights issued: 2233890800 7. Detailed information on the voting rights proportion: Voting rights proportion based on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: 0.01% (equals 157495 voting rights) thereof held indirectly: 0.01% (equals 157495 voting rights) Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG: 0.00% (equals 0 voting rights) thereof held indirectly: 0.00% (equals 0 voting rights) Voting rights pursuant to sec. 21, 22 WpHG: 0.00% (equals 0 voting rights) 8. Detailed information on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: Chain of controlled undertakings: Morgan Stanley International Limited Morgan Stanley Group (Europe) Morgan Stanley UK Group Morgan Stanley Investments (UK) Morgan Stanley & Co. International plc ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 06 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 14 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Swaps Maturity: Expiration date: 22 September 2016 III. We received the following notification pursuant to Art. 25a, Sec. 1 WpHG on September 29, 2014: 1. Listed company: Telefónica Deutschland Holding AG Georg-Brauchle-Ring 23-25, 80992 München, Germany 2. Notifier: Morgan Stanley International Limited, London, United Kingdom 3. Triggering event: Falling below threshold 4. Threshold(s) crossed or reached: 10% and 5% 5. Date at which the threshold is crossed or reached: 25.09.2014 6. Total amount of voting rights: 0.01% (equals 157495 voting rights) calculated from the following total number of voting rights issued: 2233890800 7. Detailed information on the voting rights proportion: Voting rights proportion based on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: 0.01% (equals 157495 voting rights) thereof held indirectly: 0.01% (equals 157495 voting rights) Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG: 0.00% (equals 0 voting rights) thereof held indirectly: 0.00% (equals 0 voting rights) Voting rights pursuant to sec. 21, 22 WpHG: 0.00% (equals 0 voting rights) 8. Detailed information on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: Chain of controlled undertakings: Morgan Stanley Group (Europe) Morgan Stanley UK Group Morgan Stanley Investments (UK) Morgan Stanley & Co. International plc ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 06 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 14 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Swaps Maturity: Expiration date: 22 September 2016 IV. We received the following notification pursuant to Art. 25a, Sec. 1 WpHG on September 29, 2014: 1. Listed company: Telefónica Deutschland Holding AG Georg-Brauchle-Ring 23-25, 80992 München, Germany 2. Notifier: Morgan Stanley Group (Europe), London, United Kingdom 3. Triggering event: Falling below threshold 4. Threshold(s) crossed or reached: 10% and 5% 5. Date at which the threshold is crossed or reached: 25.09.2014 6. Total amount of voting rights: 0.01% (equals 157495 voting rights) calculated from the following total number of voting rights issued: 2233890800 7. Detailed information on the voting rights proportion: Voting rights proportion based on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: 0.01% (equals 157495 voting rights) thereof held indirectly: 0.01% (equals 157495 voting rights) Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG: 0.00% (equals 0 voting rights) thereof held indirectly: 0.00% (equals 0 voting rights) Voting rights pursuant to sec. 21, 22 WpHG: 0.00% (equals 0 voting rights) 8. Detailed information on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: Chain of controlled undertakings: Morgan Stanley UK Group Morgan Stanley Investments (UK) Morgan Stanley & Co. International plc ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 06 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 14 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Swaps Maturity: Expiration date: 22 September 2016 V. We received the following notification pursuant to Art. 25a, Sec. 1 WpHG on September 29, 2014: 1. Listed company: Telefónica Deutschland Holding AG Georg-Brauchle-Ring 23-25, 80992 München, Germany 2. Notifier: Morgan Stanley UK Group, London, United Kingdom 3. Triggering event: Falling below threshold 4. Threshold(s) crossed or reached: 10% and 5% 5. Date at which the threshold is crossed or reached: 25.09.2014 6. Total amount of voting rights: 0.01% (equals 157495 voting rights) calculated from the following total number of voting rights issued: 2233890800 7. Detailed information on the voting rights proportion: Voting rights proportion based on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: 0.01% (equals 157495 voting rights) thereof held indirectly: 0.01% (equals 157495 voting rights) Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG: 0.00% (equals 0 voting rights) thereof held indirectly: 0.00% (equals 0 voting rights) Voting rights pursuant to sec. 21, 22 WpHG: 0.00% (equals 0 voting rights) 8. Detailed information on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: Chain of controlled undertakings: Morgan Stanley Investments (UK) Morgan Stanley & Co. International plc ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 06 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 14 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Swaps Maturity: Expiration date: 22 September 2016 VI. We received the following notification pursuant to Art. 25a, Sec. 1 WpHG on September 29, 2014: 1. Listed company: Telefónica Deutschland Holding AG Georg-Brauchle-Ring 23-25, 80992 München, Germany 2. Notifier: Morgan Stanley Investments (UK), London, United Kingdom 3. Triggering event: Falling below threshold 4. Threshold(s) crossed or reached: 10% and 5% 5. Date at which the threshold is crossed or reached: 25.09.2014 6. Total amount of voting rights: 0.01% (equals 157495 voting rights) calculated from the following total number of voting rights issued: 2233890800 7. Detailed information on the voting rights proportion: Voting rights proportion based on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: 0.01% (equals 157495 voting rights) thereof held indirectly: 0.01% (equals 157495 voting rights) Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG: 0.00% (equals 0 voting rights) thereof held indirectly: 0.00% (equals 0 voting rights) Voting rights pursuant to sec. 21, 22 WpHG: 0.00% (equals 0 voting rights) 8. Detailed information on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: Chain of controlled undertakings: Morgan Stanley & Co. International plc ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 06 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 14 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Swaps Maturity: Expiration date: 22 September 2016 VII. We received the following notification pursuant to Art. 25a, Sec. 1 WpHG on September 29, 2014: 1. Listed company: Telefónica Deutschland Holding AG Georg-Brauchle-Ring 23-25, 80992 München, Germany 2. Notifier: Morgan Stanley & Co. International plc, London, United Kingdom 3. Triggering event: Falling below threshold 4. Threshold(s) crossed or reached: 10% and 5% 5. Date at which the threshold is crossed or reached: 25.09.2014 6. Total amount of voting rights: 0.01% (equals 157495 voting rights) calculated from the following total number of voting rights issued: 2233890800 7. Detailed information on the voting rights proportion: Voting rights proportion based on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: 0.01% (equals 157495 voting rights) thereof held indirectly: 0.01% (equals 157495 voting rights) Voting rights proportion based on financial/other instruments pursuant to sec. 25 WpHG: 0.00% (equals 0 voting rights) thereof held indirectly: 0.00% (equals 0 voting rights) Voting rights pursuant to sec. 21, 22 WpHG: 0.00% (equals 0 voting rights) 8. Detailed information on financial/other instruments pursuant to Art. 25a, Sec. 1 WpHG: ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 06 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Call Option Maturity: Expiration date: 14 October 2014 ISIN or name/description of the financial/other instrument: Cash-Settled Swaps Maturity: Expiration date: 22 September 2016 01.10.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de

Language: English Company: Telefónica Deutschland Holding AG Georg-Brauchle-Ring 23-25 80992 München Germany Internet: www.telefonica.de End of Announcement DGAP News-Service