<SEC-DOCUMENT>0001292814-15-002799.txt : 20151119
<SEC-HEADER>0001292814-15-002799.hdr.sgml : 20151119
<ACCEPTANCE-DATETIME>20151119162418
ACCESSION NUMBER:		0001292814-15-002799
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20151231
FILED AS OF DATE:		20151119
DATE AS OF CHANGE:		20151119

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TELEFONICA BRASIL S.A.
		CENTRAL INDEX KEY:			0001066119
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				000000000

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14475
		FILM NUMBER:		151243910

	BUSINESS ADDRESS:	
		STREET 1:		AVENIDA ENGENHEIRO LUIS CARLOS BERRINI,
		STREET 2:		1376, CIDADE MONCOES
		CITY:			SAO PAULO-SP
		STATE:			D5
		ZIP:			04571-936
		BUSINESS PHONE:		55 11 3430-3687

	MAIL ADDRESS:	
		STREET 1:		AVENIDA ENGENHEIRO LUIS CARLOS BERRINI,
		STREET 2:		1376, CIDADE MONCOES
		CITY:			SAO PAULO-SP
		STATE:			D5
		ZIP:			04571-936

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TELESP HOLDING CO
		DATE OF NAME CHANGE:	20051028

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TELESP PARTICIPACOES SA
		DATE OF NAME CHANGE:	19980716
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>vivo20151119_6k1.htm
<DESCRIPTION>MINUTES OF THE 284TH MEETING OF THE BOARD OF DIRECTORS OF TELEFONICA BRASIL S.A.
<TEXT>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 16pt" face="Times New Roman">UNITED STATES<BR></FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 16pt" face="Times New Roman">SECURITIES AND EXCHANGE COMMISSION<BR></FONT></B><B><FONT lang=PT-BR style="FONT-SIZE: 16pt" face="Times New Roman">Washington, D.C. 20549<BR></FONT></B><B><FONT lang=EN-US style="FONT-SIZE: 18pt" face="Times New Roman">FORM 6-K</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 14pt" face="Times New Roman">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</FONT></B></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">For the month of November, 2015</FONT></B></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman">Commission File Number: 001-14475</FONT></B></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face="Times New Roman"><B><FONT lang=EN-CA style="FONT-SIZE: 20pt">TELEF&#212;NICA BRASIL S.A. <BR></FONT></B></FONT><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 10pt">(Exact name of registrant as specified in its charter) </FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face="Times New Roman"><B><FONT lang=PT-BR style="FONT-SIZE: 20pt">TELEFONICA BRAZIL S.A.</FONT></B></FONT><FONT face="Times New Roman"><FONT lang=PT-BR style="FONT-SIZE: 20pt">&nbsp;&nbsp;<BR></FONT></FONT><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 10pt">(Translation of registrant&#8217;s name into English)</FONT></B></FONT></P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center>&nbsp;</P>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT face="Times New Roman"><FONT face="Times New Roman"><B><FONT lang=PT-BR style="FONT-SIZE: 12pt">Av. Eng&#176; Lu&#237;s Carlos Berrini, 1376 -&nbsp; 28&#186; andar<BR></FONT></B></FONT></FONT><FONT face="Times New Roman"><B><FONT lang=PT-BR style="FONT-SIZE: 12pt">S&#227;o Paulo, S.P. <BR></FONT></B></FONT><FONT face="Times New Roman"><B><FONT lang=EN-US style="FONT-SIZE: 12pt">Federative Republic of Brazil<BR></FONT></B></FONT><FONT face="Times New Roman"><FONT lang=EN-US style="FONT-SIZE: 10pt">(Address of principal executive office)</FONT></FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:</FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Form 20-F</FONT></P></TD>

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   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">X</FONT></P></DIV></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Form 40-F</FONT></P></TD>

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   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">&nbsp; </FONT></P></DIV></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): </FONT></P>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Yes </FONT></P></TD>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">No</FONT></P></TD>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">X&nbsp; </FONT></P></DIV></TD></TR></TABLE></DIV>

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<P style="MARGIN: 0cm 0cm 0pt" align=justify><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): </FONT></P></DIV>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Yes </FONT></P></TD>

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   <DIV style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: windowtext 1pt solid; PADDING-BOTTOM: 1pt; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm">

   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman"></FONT>&nbsp;</P></DIV></TD>

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   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">No</FONT></P></TD>

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   <P style="BORDER-TOP: medium none; BORDER-RIGHT: medium none; BORDER-BOTTOM: medium none; PADDING-BOTTOM: 0cm; TEXT-ALIGN: center; PADDING-TOP: 0cm; PADDING-LEFT: 0cm; MARGIN: 0cm 0cm 0pt; BORDER-LEFT: medium none; PADDING-RIGHT: 0cm" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">X&nbsp; </FONT></P></DIV></TD></TR></TABLE></DIV>

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<H1 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: left; MARGIN: 0cm 0cm 0pt" align=left><B><FONT style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif></FONT></B>&nbsp;</H1>

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   <IMG border=0 src="logo.gif"> </FONT></B></H1>

<H1 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt"><B><FONT style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif></FONT></B>&nbsp;</H1>

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<H1 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>TELEF&#212;NICA BRASIL S.A.</FONT></B></H1>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Publicly-held Company</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>CNPJ/MF 02.558.157/0001-62 - NIRE 35.3.0015881-4</FONT></FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif></FONT></FONT>&nbsp;</P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 2.85pt 0pt 0cm; LINE-HEIGHT: normal; TEXT-INDENT: 0cm"><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=arial,sans-serif>MINUTES OF THE 284<SUP>th</SUP> MEETING OF THE BOARD OF DIRECTORS OF</FONT></B></FONT></P>

   <P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><B><B><FONT style="FONT-SIZE: 11pt" face=arial,sans-serif>TELEF&#212;NICA BRASIL S.A.</FONT></B></B><B><FONT color=black face=arial,sans-serif></FONT></B></P></TD></TR></TABLE></DIV>

<P style="MARGIN: 0cm 0cm 0pt"><FONT lang=PT-BR style="FONT-SIZE: 10pt" face="Times New Roman"></FONT>&nbsp;</P></DIV>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2.85pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=arial,sans-serif>1. DATE, TIME AND PLACE: </FONT></B></FONT><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=arial,sans-serif>November 19<SUP>th</SUP>, 2015, at 11 a.m., </FONT></FONT><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: both" color=black face=arial,sans-serif>at Telef&#244;nica Brasil S.A. (&#8220;Company&#8221;) headquarters, located at Av. Eng. </FONT></FONT><FONT style="LINE-HEIGHT: 115%" color=black face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: both" color=black face=arial,sans-serif>Luiz Carlos Berrini, 1376, Cidade Mon&#231;&#245;es, capital of the State of S&#227;o Paulo.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2.85pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<H3 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>2. PRESIDING BOARD: </FONT></B><FONT lang=EN-US style="FONT-SIZE: 11pt; FONT-WEIGHT: normal" face=arial,sans-serif>Antonio Carlos Valente da Silva, Chairman of the Board of Directors and Breno Rodrigo Pacheco de Oliveira, Secretary of the Board of Directors.</FONT></H3>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2.85pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=arial,sans-serif></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>3. ATTENDANCE: </FONT></B></FONT><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>The meeting was attended by the Directors that sign this minute, according to the article 19, paragraph 4 of the Bylaws, representing a quorum required for installation and deliberation.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 2.85pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=arial,sans-serif>4. RESOLUTIONS:</FONT></B></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" color=windowtext><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" color=windowtext face=Arial,sans-serif></FONT></B></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%"><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>4.1. DISTRIBUTION OF INTEREST ON OWN CAPITAL OF THE COMPANY: </FONT></B></FONT><FONT style="LINE-HEIGHT: 115%"><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>The Board of Directors approved, by unanimous decision, the proposal of distribution of Interest on Own Capital to the Company&#8217;s shareholders, in the gross amount of R$235,000,000.00 (two hundred fifty-five million reais), corresponding to a value of R$0.130510020450 per common share and R$0.143561022495 per preferred share, corresponding to a net value, after deducting the Withholding Income tax, of R$199,750,000.00 (one hundred ninety-nine million and seven hundred and fifty thousand reais), corresponding to a net value of R$0.110933517382 per common share and R$0.0122026869120 per preferred share, based on the net profit accounted in the balance sheet of October 31<SUP>st</SUP>, 2015, which are imputed to the minimum mandatory dividend of the fiscal year 2015 </FONT><I><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>ad referendum</FONT></I><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif> of the General Shareholders Meeting. The payment of such Interest on Own Capital will be carried out before the end of 2016 in a date to be defined by the Company&#8217;s Board. The Interest on Own Capital shall be credited to shareholders, in accordance to the shareholder registry book position by the end of the day, on November 30<SUP>th</SUP>, 2015, including. After this date, Company&#8217;s share will be considered &#8220;ex-Interest on Own Capital&#8221;.</FONT></FONT></P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>Since there was no other business to be transacted, the meeting was closed and these minutes were drawn-up by the Secretary of the Board of Directors, which were approved and signed by the Directors present to the meeting, being following transcribed in the proper book. </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=arial,sans-serif>S&#227;o Paulo, November 19</FONT></FONT><SUP><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=arial,sans-serif>th</FONT></FONT></SUP><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=arial,sans-serif>, 2015. (aa) Antonio Carlos Valente da Silva &#8211; Chairman of the Board of Directors; Santiago Fern&#225;ndez Valbuena &#8211; Vice-President of the Board of Directors; Amos Genish; Antonio Gon&#231;alves de </FONT></FONT>


<FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=PT-BR style="FONT-SIZE: 11pt" face=arial,sans-serif>Oliveira; Eduardo Navarro de Carvalho; Francisco Javier de Paz Mancho; Jos&#233; Fernando de Almansa Moreno-Barreda; Luciano Carvalho Ventura; Luis Javier Bastida Ibarguen; Luiz Fernando Furlan; Narc&#237;s Serra Serra and Roberto Oliveira de Lima. </FONT></FONT><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>Secretary of the Board of Directors: Breno Rodrigo Pacheco de Oliveira.</FONT></FONT></P>

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<H1 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt"><FONT><B><FONT lang=EN-US style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>TELEF&#212;NICA BRASIL S.A.</FONT></B></FONT></H1>

<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT color=black face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 9pt" color=black face=arial,sans-serif>Publicly-held Company</FONT></FONT></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 2.85pt 0pt 0cm; LINE-HEIGHT: normal; TEXT-INDENT: 0cm"><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 11pt; LAYOUT-GRID-MODE: line" face=arial,sans-serif>MINUTES OF THE 284<SUP>th</SUP> MEETING OF THE BOARD OF DIRECTORS OF</FONT></B></FONT></P>

<H1 style="PAGE-BREAK-AFTER: avoid; TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt"><FONT><B><FONT style="FONT-SIZE: 11pt" color=black face=Arial,sans-serif>TELEF&#212;NICA BRASIL S.A.</FONT></B></FONT></H1>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif></FONT></FONT>&nbsp;</P>

<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 0pt; LINE-HEIGHT: 115%"><FONT style="LINE-HEIGHT: 115%" face=arial,sans-serif><FONT lang=EN-US style="FONT-SIZE: 11pt" face=arial,sans-serif>I hereby certify that this is a faithful copy of the minutes of the 284<SUP>th</SUP> meeting of the Board of Directors of Telef&#244;nica Brasil S.A., held on November 19<SUP>th</SUP>, 2015, which was drawn-up in the proper book.</FONT></FONT></P>

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<P style="TEXT-ALIGN: right; MARGIN: 0cm 18pt 0pt 0cm" align=right><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 10pt" face=arial,sans-serif>Continuation of </FONT></B></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>Minutes of the 284<SUP>th</SUP> MBD of 11.19.15 Page </FONT></B><FONT style="DISPLAY: none"><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B></FONT></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>2</FONT></B></FONT></FONT></B><B><FONT><FONT style="DISPLAY: none" face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif></FONT></B></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>/</FONT></B></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif><B><FONT lang=EN-US style="FONT-SIZE: 9pt" face=arial,sans-serif>2</FONT></B></FONT></FONT></B><B><FONT><FONT face=arial,sans-serif></FONT></FONT></B></P>

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<P style="TEXT-ALIGN: center; MARGIN: 0cm 0cm 0pt" align=center><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">SIGNATURE</FONT></P>

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<P style="TEXT-ALIGN: justify; MARGIN: 0cm 0cm 10pt; TEXT-INDENT: 18pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</FONT></P>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">November 19, 2015</FONT></P></TD>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT style="FONT-SIZE: 12pt" face="Times New Roman">/s/ </FONT>Luis Carlos da Costa Plaster</P></TD></TR>

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   <TD style="PADDING-BOTTOM: 0cm; PADDING-TOP: 0cm; PADDING-LEFT: 5.4pt; PADDING-RIGHT: 5.4pt" vAlign=top width="37%">Luis Carlos da Costa Plaster</TD></TR>

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   <P style="MARGIN: 0cm 0cm 0pt"><FONT lang=EN-US style="FONT-SIZE: 12pt" face="Times New Roman">Investor Relations Director</FONT></P></TD></TR></TABLE></DIV>

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