Telstra Corp. Ltd. CEO Sol Trujillo Tuesday warned shareholders at the Asia-Pacific telco"s annual general meeting that fixed line revenues continue to fall.

He said the company"s fixed line revenues declined 1.9 per cent in the first half of 2004/05 and by 5 percent in the second half.

"And this decline is accelerating," Trujillo warned shareholders.

He said times were getting tougher for Telstra, which had to find new ways to grow the business.

"The world of the telecommunications business is changing fast and no more so than in relation to our fixed line business where revenues are falling due to increasing migration to mobile services and use of e-mail," he said.