Vodafone AirTouch Plc announces today that its wholly owned subsidiary AirTouch Europe BV, has increased its shareholding in Mobifon SA to 20.1% following the exercise of an option, a new share issue by Mobifon and a transfer of shares from Mobifon's principal shareholder, a subsidiary of Telesystem International Wireless Corporation of Canada. Mobifon is the operator of the Connex GSM mobile telephone service in Romania. It launched commercial service in April 1997 and at the end of September 1999 had over 500,000 customers.

The total cost of Vodafone AirTouch's interest in Mobifon is $94.6 million and the Company will equity account for the 20.1% stake.

Julian Horn-Smith, Chief Executive of Vodafone AirTouch International Limited, commented: "Vodafone AirTouch is delighted to have added to its interest in Romania, in continuation of the Group's strategy of increasing stakes in existing ventures where to do so enhances shareholder value."

For further information contact:
Tim Brown, Investor Relations Director, or
Melissa Stimpson, Senior Investor Relations Manager, or
Mike Caldwell, Corporate Communications Director
at Vodafone AirTouch Plc
Telephone: +44 (0) 1635 33251
Or
Lulu Bridges
Tavistock Communications Limited
Telephone: +44 (0) 171 600 2288

press.office@vodafone.com