Document:

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                                                                   EXHIBIT 4.20

      FIRST ADDENDUM TO THE AGREEMENT FOR A COMMERCIAL LOAN IN YEN AT FIXED
          INTEREST RATE AND THREE-YEAR MATURITY, DATED MARCH 16, 2001

Know all men by these presents, the First Addendum to the Agreement for a
Commercial Loan in Yen at Fixed Interest Rate dated March 16, 2001, made by and
between Telefonica Internacional S. A., with address at Madrid, Gran Via, 28,
with NIF No. A-78035441, represented by Mr. Isidro Javier Delgado Martinez, with
National Identity Document (DNI) No. 16.790.223-Q and D. Arturo Pascual Garcia,
with DNI No. 16.779.507-H, hereinafter Telefonica, as party of the first part;
and Telefonica del Peru S.A.A., with address at Av. Arequipa No. 1155, Santa
Beatriz, Lima, represented by its General Manager, Mr. Juan Revilla Vergara,
identified by DNI No. 08234014 and its Central Finance Manager, Mr. Antonio
Villa Mardon, identified by DNI No. 10840875, hereinafter the Borrower, as party
of the second part, under the following terms and conditions:

ONE:  RECITALS

On March 16, 2001, the parties entered into an Agreement for a Commercial Loan
in Yen at Fixed Interest Rate (hereinafter the Main Contract) whereby Telefonica
granted a commercial loan to the Borrower in the amount of 16 456 000 000 yen.

TWO:  PURPOSE

The parties hereby agree to, as from the date hereof, incorporate numeral (v) to
clause 3.3 of the Main Contract, as per the following literal tenor:

         "3.3  Early Redemption

         The Borrower may request the early redemption of all or part of the
         Loan Amount, provided that the following requirements are met:

         (...)

         (v)  If the amount requested to be redeemed by the Borrower should
              not meet the requirement set forth in numeral (ii) above or if the
              payment date proposed by the Borrower should not satisfy the
              requirement specified in the preceding numeral (iii), Telefonica
              will be required to provide prior and written approval and will be
              afforded a two-day period for such purpose; upon expiration of
              said period, the request from the Borrower shall be deemed
              approved".

THREE:  EFFECTIVENESS OF MAIN CONTRACT

The parties represent that, save the modifications agreed upon in this Addendum,
the other clauses of the Main Contract remain unchanged.

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Signed in Madrid, on February 18, 2003.

TELEFONICA INTERNACIONAL S. A.      TELEFONICA DEL PERU S. A.A.

/s/ Isidro Javier Delgado Martinez                   /s/ Juan Revilla Vergara
----------------------------------                   ------------------------
Isidro Javier Delgado Martinez                       Juan Revilla Vergara

/s/ Arturo Pascual Garcia                            /s/ Antonio Villa Mardon
----------------------------------                   ------------------------
Arturo Pascual Garcia                                Antonio Villa Mardon

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                                                                   EXHIBIT 4.21

                     ADDITIONAL CLAUSE TO TECHNICAL CAPACITY
                        AND MANAGEMENT TRANSFER AGREEMENT

A.     INTRODUCTION

       Subsequently to the signature of this agreement, certain facts have
       occurred which, in the discretion of the parties, need to be documented.
       Furthermore, it is the desire of the parties to define the scope and
       meaning of some provisions contained in this contract, so that it will be
       properly construed in accordance with the intention of the parties at the
       time of its signature. Therefore, this additional clause is being signed.

B.     FACTS.- Facts occurred are as follows:

       By public deed dated December 31, 1994, the merger by takeover of Entel
       Peru S. A. by Compania Peruana de Telefonos S. A. took place, and the
       company reorganization provided for in article 8 of the contract was
       carried out.

       On January 21, 1995, the Special General Meeting of Shareholders agreed
       to change the firm's name from COMPANIA PERUANA DE TELEFONOS S.A. to
       CPT - TELEFONICA DEL PERU S.A. (hereinafter Telefonica del Peru).

       As a result, the following is documented:

       a)     Telefonica del Peru has automatically subrogated to all rights and
              obligations corresponding to it under the relevant Technical
              Capacity and Management Transfer Agreement entered into between
              Telefonica Internacional and ENTEL PERU S. A.

       b)     Telefonica del Peru and TELEFONICA INTERNACIONAL are currently the
              contracting parties.

C.     CLARIFICATIONS

       C.1    Technical Capacity Transfer

              The technical capacity transfer referred to in article 3 of this
              contract is related, not only to the existence of technical
              know-how and specialized industrial expertise, but, primarily, to
              the transfer of such technical know-how and expertise to which
              Telefonica Internacional binds itself directly or through its
              corporate group throughout the effectiveness of this contract.

       C.2    Integral Management and Management Capacity

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              The direction and management of Telefonica del Peru are exercised
              by its Board and its General Manager, as provided for in the
              General Societies' Act and in its Charter.

              The integral management and management capacity referred to in
              article 4 of this contract must be understood as the transfer to
              Telefonica del Peru of the expertise of Telefonica Internacional,
              either directly or through its corporate group in the
              telecommunications business management, without prejudice to the
              participation that officers designated by Telefonica Internacional
              and hired for the purpose by Telefonica del Peru, may have in
              directing the management of Telefonica del Peru without thereby
              adversely affecting the nature of technological transfer that
              creates for Telefonica del Peru the obligation to pay royalties.

              Telefonica Internacional undertakes to transfer the expertise it
              owns in managing the telecommunications business, same which
              encompasses the contribution of all capacities, synergies and
              resources; the drafting and implementation of general,
              organization, administration, marketing and commercialization, and
              purchasing policies; strategic planning; network and services
              expansion, and other similar services associated to business
              management in the telecommunications field.

       C.3    Article 4.4 of this contract is referred to Telefonica del Peru
              being responsible for paying all of the compensation applicable to
              the staff originating from Telefonica Internacional or from its
              corporate group, that Telefonica del Peru may engage hereunder.

       C.4    Income from Services

              It is stressed that the term "Income from Services" is referred to
              income accrued in accounting.

       C.5    Complementary Services

              Complementary services referred to in article 6 of this contract
              are those which, unlike the technical know-how and assistance
              referred to in articles 3 and 4 of this contract, suppose the
              provision of services implying the application of specialized
              knowledge, performed in accordance with guidelines imparted and
              submitted to the supervision of Telefonica del Peru.

       C.6    Fee Amount and Invoicing Procedure

              It is stressed that the fee increases referred to in article 7.1
              of this contract must be withheld from the total fee amount and
              paid to the Peruvian State by Telefonica del Peru for account of
              Telefonica Internacional. For these purposes, the Comptroller's
              Central Management of Telefonica del Peru will notify Telefonica
              Internacional, based on the Operating Profit and Income from
              Services figures established in article 5.3 of this contract, the
              total fee amount that is

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              to include any applicable taxes to be entered into the Peruvian
              Department of Public Finance for account of Telefonica
              Internacional. Telefonica Internacional, for its part, will
              invoice the full fee amount from which Telefonica del Peru will
              perform the aforesaid tax withholding.

To signify their concurrence, the parties sign this additional clause through
their duly authorized representatives, on the date specified below their
signatures.

T.I. TELEFONICA INTERNACIONAL               TELEFONICA DEL PERU
DE ESPANA S.A.

/s/ Ignacio Santillana del Barrio           /s/ Rafael Hernandez
-----------------------------------         ----------------------------------
Name:  Ignacio Santillana del Barrio        Name:  Rafael Hernandez
Position:  Authorized Advisor               Position: Chairman of the Board
Date:  May 23, 1995                         Date:  May 23, 1995

                                       3<PAGE>

                                                                   EXHIBIT 4.22

   ADDENDUM TO THE CONCESSION AGREEMENT FOR THE PROVISION OF CARRIER SERVICE AND
            LOCAL TELEPHONE SERVICE AT THE DEPARTMENT OF LIMA AND AT
                       THE CALLAO CONSTITUTIONAL PROVINCE

Know all men by these presents, the addendum to the Concession Agreement for
Carrier Service and Local Telephone Service at the Department of Lima and at the
Callao Constitutiana Province made by the MINISTRY OF TRANSPORT AND
COMMUNICATIONS, HOUSING, AND CONSTRUCTION, hereinafter "THE MINISTRY",
represented by Mr. CARLOS VALDEZ VELASQUEZ-LOPEZ, Head of the Telecommunications
Concessions Specialized Unit, identified by Voting Card No. 10828330, with
address at Av. 28 de Julio No. 800, Lima 1, duly authorized by Ministerial
Resolution to execute this addendum, as party of the first part, and TELEFONICA
DEL PERU S.A.A., with legal address at Av. Arequipa No. 1155, 8vo. Piso, Santa
Beatriz, in the Province and Department of Lima, represented by Mrs. HORTENCIA
REBECA ROZAS OLIVERA, Regulation Manager, identified by Voting Card No.
10475677, sufficiently empowered to execute this addendum as evidenced in entry
C42 of Item No. 11015766 of the Register of Legal Entities from Lima, which
hereinafter, for purposes hereof, will be referred to as the "LICENSEE
CORPORATION", as party of the second part, under the following terms and
conditions:

ONE.-  RECITALS
       --------

1.   By means of Supreme Decree No. 011-94-TCC of May 13, 1994, approval was
     granted to the concession agreement in favor of Compania Peruana de
     Telefonos S.A. (CPT) for the provision of Carrier Service and Local
     Telephone Service  at the Department of Lima and at the Callao
     Constitutiana Province over a twenty-year term. This contract was executed
     on  May 16, 1994 and the holder thereof is TELEFONICA DEL PERU S.A.A.

2.   Article four of the mentioned concession agreement authorizes the licensee
     corporation to request the gradual renewal of the concession term, for up
     to five-year additional periods to the 20-year concession term.

3.   On December 24, 1998, the LICENSEE CORPORATION requested the gradual
     renewal of the concession term granted through Supreme Decree No.
     011-94-TCC, amended by Supreme Decree No. 021-98-MTC.

4.   By means of Ministerial Resolution No. 272-99-MTC/15.03, approval was
     granted to the gradual renewal for a five-year additional period to the
     20-year concession term.

TWO.- PURPOSE
      -------

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By means of this Addendum, the concession term of the LICENSEE CORPORATION is
modified for an additional five-year period to the 20-year concession term
granted through Supreme Decree No. 011-94-TCC and counted as from the effective
date (June 27, 1994).

Consistent with it, the additional period to the concession term is now
comprised between June 27 of year 2014 and June 27 of year 2019.

THREE.- TERMS AND TIME PERIODS
        ----------------------

The LICENSEE CORPORATION will continue rendering the GRANTED SERVICE under the
terms established in the Concession Agreement approved by Supreme Decree No.
011-94-TCC and amended by Supreme Decree No. 021-98-MTC, all of which
particulars remain unchanged to the extent they do not oppose this Addendum.

FOUR.-

At the request of either party, this addendum will be converted into a Public
Deed. The cost of the conversion shall be borne by whomever requests same.

Signed in Lima, on the twenty-second (22nd) day of the month of November, 1999,
in three (3) original copies of identical tenor and value.

/s/                                         /s/
--------------------------------            -------------------------------
THE MINISTRY OF TRANSPORT,                  THE LICENSEE CORPORATION
COMMUNICATIONS, HOUSING,
AND CONSTRUCTION

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