Trading Statement

Carphone Warehouse Group PLC
28 June 2001

28 June 2001


THE CARPHONE WAREHOUSE GROUP PLC ANNOUNCES CURRENT TRADING STATEMENT AT ANNUAL
                               GENERAL MEETING

                            1 APRIL - 23 JUNE 2001

  * At the time of our full year results on 29 May we announced that in the
    seven-week period to 19 May 2001 connections had grown by 30% to 400,000.
    In addition we said that there had been a 4% swing in the mix profile in
    favour of subscription compared to the same period last year

  * In the subsequent 5 week period from 20 May to 23 June, in which the
    increase in UK prepaid prices has been effective throughout, connections
    grew by 17% as a whole and the subscription mix for the period was 56.9%,
    an increase from 47.6% in the corresponding period last year

  * Over the combined 12 week period to 23 June, total connections grew by
    23% to 684,000 compared to the same period last year. Overall, the
    subscription mix for the period was 53.9%, an increase from 47.6% in the
    corresponding period last year

  * Retail gross margins and average revenue per connections are in line
    with expectations

  * Other areas of the business continue to progress well. The insurance
    policy holder base increased to over 851,000. The telecoms services base
    increased to 857,000 including CMC, the French telecoms services business
    acquired on 29 May 2001. MViva subscriber numbers increased to 346,000.

Charles Dunstone, Chairman and Chief Executive Officer said:

'Our performance demonstrates our ability to attract a high quality customer
base. Clearly our proven track record in providing value added customer
service ideally positions us to take advantage of a market that is
increasingly focusing on high spending subscription customers rather than
purely volume.

'Since the change in the UK prepay prices we have seen our UK subscription mix
increase from 43.8% for the month of April 2001 to 59.6% from 1 May onwards.
In addition actual subscription volumes have increased by over 53% compared to
the comparative period last year and again reflects our differentiated
proposition.

'The period also demonstrates our ability to continue to generate additional
recurring revenue streams beyond the point of sale and our telecoms services
division will remain an area of focus for management.

'Looking ahead we continue to believe we are well positioned to succeed in a
pan-European marketplace that is in the process of significant change.'

ENDS

For further information please contact:

Charles Dunstone   0208 896 5573

Roger Taylor

Tristia Clarke

www.carphonewarehouse.com