Vodafone Group Plc ('Vodafone") today announces that it has granted share options to more than 42,000 employees in 12 subsidiaries around the world, under the terms of the Vodafone Group 1999 Long Term Stock Incentive Plan. This grant will involve approximately 238 million shares with a provisional grant value of over �375 million. The share options ca be exercised after 3 years and up to 10 years after the grant date.

The Global Employee (GEM) share options will be issued to eligible employees of Vodafone subsidiaries in Australia, Egypt, Germany, Greece, Hungary, Ireland, Italy, Malta. Netherlands, New Zealand, Portugal and Spain. Each eligible employee will receive an option to buy Vodafone shares with a face value equal to 50% of their annual salary.

Sir Christopher Gent, Chief Executive of Vodafone said: "We want all employees to think and act like owners and we are therefore extending the share options that we have granted to all of our UK and US employees, to virtually all employees in our subsidiaries around the world. As we increasingly act and organise ourselves as a single global group with a consistent vision and set of objectives, this move will be critical in ensuring the commitment and motivation of our employees on whose support we depend."

For further information contact:

Vodafone Group Plc
Tim Brown, Group Corporate Affairs Director
Mike Caldwell, Group Corporate Communications Director
Melissa Stimpson, Head of Group Investor Relations
Jon Earl, Investor Relations Manager
Darren Jones, Investor Relations Manager
Tel: +44 (0) 1635 673310

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