Acquisition

Carphone Warehouse Group PLC
17 September 2001

17 September 2001

       The Carphone Warehouse Group PLC Acquires Central London Stores


The Carphone Warehouse Group PLC (CPW) today announces the purchase of
thirteen prime location stores from Odyssey Corporation PLC Administration.

Situated in central London locations including Oxford Street, Bond Street,
Knightsbridge and Victoria it is intended the stores will be re-branded CPW
over the coming weeks.

The acquisition includes the transfer of 27 employees all of whom will enroll
on the CPW two week residential training course. The new stores will take the
Group's London portfolio to 130 stores and UK portfolio to 450 stores.

Charles Dunstone, Chief Executive Officer, The Carphone Warehouse Group PLC
said:

'As the networks move away from pre-pay mobile phones and towards subscription
contracts so the customer requirement for specialist, independent advice
increases.

'This acquisition significantly strengthens our current London store portfolio
in advance of Christmas. In addition it allows us to continue to maintain a
high level of service to our existing base as well as to attract and retain an
even greater share of higher spending subscription customers.'

The total purchase payable is £600,500 in cash and is subject to obtaining
landlord's consents to the assignments of the properties to CPW.

For further information

Charles Dunstone                                    07771 868 601

Tristia Clarke

www.carphonewarehouse.com