Holding in Company

Carphone Warehouse Group PLC
28 September 2001


                 The Carphone Warehouse Group PLC ('Company')

                              Interest in Shares



The Company received notice on 26th September 2001 that on the 20th September
2001 Morgan Stanley Securities Limited ('MSSL') disposed of its interest in
certain of its shares in the capital of the Company resulting in MSSL no
longer having a notifiable interest in the Company's shares in accordance with
Section 198 of the Companies Act 1985 ('Act').


The Company also received notice on 26th September 2001 that on the 21st
September 2001 MSSL acquired an interest in shares that resulted in it holding
a total of 25,004,552 shares being approximately 3% of the issued share
capital of the Company.


MSSL have transferred from time to time 24,187,400 shares to a third party on
terms which give MSSL the right to require the return of an equivalent number
of shares. Accordingly MSSL's interest in the 24,187,400 shares is pursuant to
Section 208 (5) of the Act.

Further information:

Tim Morris

Tristia Clarke                         020 8 896 5573

www.carphonewarehouse.com