Re Joint Venture

Carphone Warehouse Group PLC
5 March 2001


5 March 2001

   The Carphone Warehouse Group PLC and The Financial Times Group to launch
                            virtual mobile network

The Carphone Warehouse Group PLC and The Financial Times Group have announced
a commercial joint venture to launch an exclusive virtual mobile network
offering high quality phones, premium business and financial content, and
first-class after-sales service.

Launching to customers in the Spring, the FT Mobile phone package will be
available through FT.com, Carphone Warehouse stores and carphonewarehouse.com.

The virtual mobile network consists of top of the range FT-branded
internet-enabled phones and premium content from the FT. The Carphone
Warehouse will provide sales and marketing support, as well as facilities
management services on behalf of FT Mobile, including credit checking,
billing, after-sales care and revenue management. BT Cellnet is the chosen
airtime operator, which gives the service 99 per cent coverage of the UK
population. The initial range of handsets will be supplied by Siemens, Nokia
and Sony.

With the FT Mobile phone package users will be able to access relevant,
customised breaking news and information from FT.com, FTMarketWatch.com and a
number of other content partners. By registering with FT.com, users can
personalise the content they receive, allowing them to:

  * Access breaking news on their chosen industry sector
  * Read FT commentary, including the Lex column
  * Track real-time share prices, including immediate access to the user's
    most important stocks
  * Search FT.com's global archive of more than 10 million articles, pre-set
    to the customer's most frequently-used reference enquiry
  * Access e-mail and calendar facilities through FT.com's Personal Office

This personalised content, called FT Mobile Gold, is an inclusive part of the
package, but would normally cost £10 a month to other users of
internet-enabled mobile phones.

Stephen Hill, Chief Executive Officer at The Financial Times Group, said: 'We
are delighted to offer this service to business people on the move. It is a
good example of how we can leverage our investment in our digital platform,
FT.com, and takes us a step further in realising our strategy of making FT
content available anytime, anywhere.'

Charles Dunstone, Chief Executive Officer, The Carphone Warehouse Group PLC
said: 'As mobile phone penetration increases and customers become more
knowledgeable about mobile phones and related services, the growth potential
clearly lies in providing a wide range of useful, relevant content that is
tailored to individual needs. Targeted virtual mobile networks such as the FT
partnership are the perfect way to achieve this.'

Further information on the FT Mobile phone package, including the opportunity
to pre-register for information on handsets and price, is available at
www.ft.com/media.

-Ends-

Further information:

The Carphone Warehouse Group PLC

Charles Dunstone, Chief Executive Officer               0208 896 5573

Tristia Clarke, Press Office                            07771 868 601

www.carphonewarehouse.com

The Financial Times Group

Stephen Hill, Chief Operating Officer, The FT Group     0207 873 3000

Michael Murphy, Chief Operating Officer, FT.com         0207 643 2266

www.ft.com