Vodafone AirTouch Plc today announces that Mannesmann AG has agreed to sell LMH (Les Manufactures Horlogères), its luxury watches business, to Richemont S.A. for a cash consideration of approximately 2.8 billion Swiss francs. The agreement is conditional on the approval of Mannesmann AG's Supervisory Board and certain regulatory approvals. Completion is expected in September 2000.

LMH is the holding company for three highly successful luxury watch businesses, Jaeger-LeCoultre, International Watch Co. and A. Lange & Söhne.

Mannesmann AG was advised by UBS Warburg.

For further information contact:

Vodafone AirTouch Plc
Terry Barwick, Director of Corporate Affairs
Tim Brown, Investor Relations Director
Melissa Stimpson, Senior Investor Relations Manager
Corinne Norris, Senior Communications Manager
Telephone: +44 (0) 1635 33251

Tavistock Communications
Lulu Bridges
Telephone: +44 (0) 20 7600 2288

press.office@vodafone.com