TELEFÔNICA BRASIL S.A.

Publicly-Held Company

CNPJ MF 02.558.157/0001-62 - NIRE 35.3.001.5881-4

NOTICE TO THE MARKET

Telefônica Brasil S.A. ("Company"), after the acquisition of GVT Participações S.A., occurred on May 28, 2015, presents the historical pro forma data of the Company, including GVT as of January 01, 2014.
The information can be accessed on the Investor Relations website of the Company, through the link below:
http://telefonica.mediagroup.com.br/en/Info_Market/Quarterly_Reports.aspx
The Investor Relations Office remains available to clarify its shareholders on any issues related to the object of this Notice, through telephone, +55 11 3430-3687, or e-mail,
ir.br@telefonica.com.
São Paulo, July 22, 2015.

Alberto Manuel Horcajo Aguirre

Investor Relations Officer Telefônica Brasil S.A. - Investor Relations Tel: +55 11 3430-3687
E-mail: ir.br@telefonica.com www.telefonica.com.br/ir

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