Vodafone Group Plc ("Vodafone") announces that further to the announcement made earlier today regarding the acquisition of British Telecommunications PLC's interests in JAPAN TELECOM, the J-Phone Group and Airtel and the placing of new Vodafone shares, the placing price and the size of the issue have now been determined following the completion of the bookbuilding process.

To accommodate investor demand, Vodafone has decided to increase the size of the issue to 1,825,000,000 shares, which are being offered at 194p per share (equivalent to $27.83 per American Depository Share, each ADS representing 10 Vodafone ordinary shares) to raise approximately £3.5 billion. The new Vodafone shares being issued rpresent approximately 2.8 per cent. of Vodafone's issued ordinary share capital prior to the offering.

The offering is expected to close on Wednesday 9 May 2001.

For further information contact:

Tim Brown, Group Corporate Affairs Director
Melissa Stimpson, Head of Group Investor Relations
Jon Earl, Investor Relations Manager
Darren Jones, Investor Relations Manager
Telephone: +44 (0) 1635 673 310

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

This press release shall not constitute an offer to sell securities. A registration statement relating to these securities has been filed with the Securities and Exchange Commission. Copies of the related prospectus and prospectus supplement may be obtained from:

Goldman, Sachs & Co., 85 Broad Street, New York, NY 10004 Attention: Prospectus department

UBS Warburg LLC, 299 Park Avenue, New York, NY 10171 Attention: Prospectus department