Acquisition

Carphone Warehouse Group PLC
21 December 2001


                                 Acquisition


            Acquisition of Minority Interest in Papertimes Limited


The Carphone Warehouse Group PLC ('CPW') today announces that it now
indirectly holds 100% of Wireless Internet Portfolio BV ('WIP') following the
exercise of its right to acquire from Roger Taylor, director of the CPW, all
of the issued A Shares (being 6 A Shares) ('Sale Shares') in Papertimes
Limited ('Papertimes') which indirectly holds 15% of WIP.


The consideration for the Sale Shares is £3,000,000 which is to be satisfied
by the allotment to Roger Taylor of 2,238,806 Ordinary Shares of 0.1p each in
the capital of CPW ('Consideration Shares'), at an allotment price of £1.34
per Ordinary Share being the average market price of CPW shares over the three
preceding business days prior to the acquisition.


Following the acquisition, Roger Taylor has a beneficial interest in 2,276,806
Ordinary Shares representing 0.27% of the issued Ordinary Shares of CPW. He is
prohibited from selling any of the Consideration Shares until after 21st
December 2004 except with the consent of CPW.



Further Information:


Tim Morris          020 8896 5430

David Ross