Acquisition

Carphone Warehouse Group PLC
28 July 2000

               THE CARPHONE WAREHOUSE GROUP PLC
                   MAKES FRENCH ACQUISITION

The Carphone Warehouse Group PLC today announces the purchase
of 27 stores from French clothing retailer Multiples SA for a
total of £8.7m in cash.  The purchase is being made through
the The Phone House SA, the Group's wholly owned European
subsidiary in France.

The Group currently has 108 stores in France and the purchase
will take the French portfolio to a total of 135.  The Group
currently has a strong presence in Paris with 53 outlets.  The
new stores are located in prominent shopping centres, in large
cities all over France.  The Group considers this acquisition
to be an important addition to its portfolio due to the prime
locations of the stores.  Each will be re-branded The Phone
House within 6 months.

David Ross, Chief Operating Officer said: 'This acquisition is
an important development in our growth strategy in France. Due
to a competitive market place these shopping centres are
traditionally difficult to enter making this purchase
significant.

Over the coming months we will continue to build our European
presence through store expansion, broadening our offer of
mobile telecoms products and services as well as continuing
our emphasis on outstanding customer service'.

Enquiries


The Carphone Warehouse Group Plc        0208 896 5000
Roger Taylor
Hugh Roberts

Credit Suisse First Boston              0207 888 8888
George Maddison
James Leigh Pemberton

Citigate Dewe Rogerson                  0207 638 9571
Chris Barrie



NOTES TO EDITORS

1.   The Carphone Warehouse Group PLC recently (14 July)
     floated on the London Stock Exchange.  Close to 102.6
     million new shares and over 61 million existing ordinary
     shares were offered, representing approximately 20% of
     the total enlarged share capital.  Based on the issue
     price of 200p per share, the Group is valued at
     approximately £1.7billion.

2.   The Carphone Warehouse Group PLC(CPW) was founded in 1989
     and has experienced rapid growth in the 1990s under the
     leadership of Charles Dunstone and David Ross.  The
     company has three business segments.

-    Distribution - principally comprising retail, on-line and
     insurance.
-    Telecoms - comprising on-going revenues and Value Telecom
-    Wireless Internet Services - comprising Mviva and certain
     strategic investments.

3.   Distribution

     CPW is the only pan-European retailer of mobile telephony
     products and services.  It is the leading independent
     mobile phone retailer in the UK, France, Spain, Sweden
     and Ireland and is one of the leading such retailers in
     Belgium and the Netherlands, in each case in terms of
     market share.  The Group expects to develop a strong
     presence in the German market following its recent
     agreement to a further 97 retail locations.

     The Group provides a growing distribution platform in
     Europe for the mobile network operators and equipment
     manufacturers.  CPW is developing its Telecoms division
     including its own mobile virtual network operator (MVNO),
     branded Value Telecom, and further through its recent
     acquisition of the UK business of Cellcom Limited, a
     cellular services provider, which will enable it to
     increase the Group's involvement in after sales services
     offered to customers.

     CPW connected approximately 2.3 million customers to
     mobile phone networks in the year to 25 March 2000,
     compared to approximately 1.1 million connections in the
     previous financial year.  Subscription packages
     represented approximately 48% of connection sales.  Pre-
     pay packages represented approximately 52% of connection
     sales.

     As well as its network of shops, CPW sells directly to
     customers via its UK based telephone call centre, a pan-
     European website and its site on Open interactive TV.
     Approximately 35% of CPW's customers in the UK take out
     insurance policies with CPW Insurance.  As at 25 March
     2000, CPW Insurance had a customer base of approximately
     511,000 and generated £27.4 million revenues.
    
4.   Telecoms
     Ongoing revenue: CPW has agreements with an increasing
     number of European mobile network operators from which
     the Group receives a share of air-time revenue derived
     from subscribers introduced by the Group to those
     operators.  The share of these revenues generates
     significant recurring cash flows with no direct cost to
     the Group.

     Value Telecom: Launched in December 1999, Value Telecom
     is a mobile virtual network operator.  It offers a tariff
     structure combining the advantages associated with the
     traditional subscription and pre-pay services. Value
     Telecom's offering has been designed not to replicate
     tariff packages offered by existing mobile network
     operators

5.   Wireless Internet Services
     This division comprises Mviva, the Group's multi-access
     internet portal and strategic investments in wireless
     technology and internet-related businesses.  Launched in
     the UK in July 2000 Mviva is accessible via mobile and
     fixed line communications devices such as mobile phones,
     PDAs, personal computers, laptop computers and
     interactive television.  Mviva is available to customers
     regardless of device for mobile network operator.  It
     will be launched initially in four European markets,
     (France, Spain, Sweden and the Netherlands) in September
     and in selected countries across the rest of Europe over
     the next 12 to 18 months.  Mviva has arrangements with
     over 50 third party content and service providers,
     offering a wide range of information, e-commerce and
     other services to the user.
     
     On 12 June 2000, CPW and AOL Europe entered into a
     strategic alliance under which AOL Europe acquired a 15%
     interest in Mviva and was issued warrants to acquire a
     further 4.9% interest in Mviva within the next 12 months.
     In return AOL Europe paid US$25million in cash and agreed
     to provide functionality, content and services to Mviva.
     
     The Group makes strategic investments in new mobile
     internet technology in order to strengthen CPW's ability
     to capture, influence and take advantage of the raid
     advance of the relevant technology within the emerging
     wireless market by leveraging the Group's brand and
     distribution network.  These investments are primarily
     aimed at providing the Group and Mviva with richer
     content and thus delivering enhanced services to CPW's
     customers.
     
     The Pan-European coverage of the Group's distribution
     activities, its significant customer base and well
     established relationships with European mobile network
     operators attract the interest of wireless technology and
     internet entrepreneurs, providing CPW with access to a
     large number of strategic investment opportunities.