Yes, in that I was also on one of these contracts. To me it was pretty clear that it was the case, and I record in my diary the 'renewal date' so I can take a view on whether I want another 12 months-worth.
Whilst it may have been fixed up by phone conversation, I think you will find that BT will have written to you setting out the terms of what you agreed. Wait and see whether they can churn up a copy of the old letter.
If so, I think they will only let you out of it if you are moved from the dwelling serviced by the line.