Vodafone Group Plc ("Vodafone") announces today that its wholly owned subsidiary Vodafone Investments Luxembourg Sarl has increased its shareholding in Vodafone Libertel N.V. ("Vodafone Libertel") by purchasing for cash a 7.564% interest from ING Group. Consequently, Vodafone's effective shareholding in Vodafone Libertel has increased from 70.0% to 77.564%.

Vodafone also announces that its wholly owned subsidiary Vodafone International Holdings BV has recently agreed to acquire from France Telecom S.A ("FT") its 10.85% interest in Vodafone-Panafon Hellenic Telecommunications Company S.A. ("Vodafone Panafon") for cash, subject to Greek Stock Exchange regulations. Vodafone's effective shareholding in Vodafone Panafon would increase from 51.88% to 62.73% on completion, which is expected to be on or before 31 December 2002. In addition, as the Vodafone group would become the beneficial owner of these shares, Vodafone has granted FT a cash settled call option to cover certain of FT's obligations under its 4.125% Exchange Notes due 29 November 2004, which are convertible into Vodafone Panafon shares. Exercise of this option will not change Vodafone's effective interest.

The value of the net assets being acquired represents less than 1% of Vodafone's net assets in each transaction.

These transactions, which are earnings per share accretive, are in line with Vodafone's strategy of increasing its stakes in existing operations, where opportunities arise for the creation of enhanced shareholder value.

For further information contact:

Vodafone Group
Tim Brown, Group Corporate Affairs Director
Melissa Stimpson, Director of Group Investor Relations
Bobby Leach, Head of Group Financial Media Relations
Darren Jones, Senior Investor Relations Manager
Tel: +44 (0) 1635 673310

Tavistock Communications
Lulu Bridges
Tel: +44 (0) 207 600 2288

Email: press.office@vodafone.com