Holding(s) in Company

Carphone Warehouse Group PLC
11 March 2002

Immediate Release - 11.03.02



                  The Carphone Warehouse Group PLC ('Company')

                               Interest in Shares



The Company received notice on 8th March 2002 that on 7th March 2002 Morgan
Stanley Securities Limited ('MSSL') acquired an interest in shares in the
Company that resulted in it holding a total of 25,836,473 shares, being
approximately 3.10% of the issued share capital of the Company.

MSSL have transferred from time to time 24,371,800 shares to a third party on
terms which gave it the right to require the return of an equivalent number of
shares. Accordingly, the interest in the 24,371,800 shares is pursuant to
Section 208(5) of the Companies Act 1985.



Further information:

Tim Morris

Tristia Clarke                         020 8753 8573

www.carphonewarehouse.com



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