Employee Share Options

Vodafone Group PLC
2 July 2001


02 July 2001


              VODAFONE GRANTS SHARE OPTIONS to 42,000 EMPLOYEES


Vodafone Group Plc ('Vodafone') today announces that it has granted share
options to more than 42,000 employees in 12 subsidiaries around the world,
under the terms of the Vodafone Group 1999 Long Term Stock Incentive Plan.
This grant will involve approximately 238 million shares with a provisional
grant value of over £375 million. The share options can be exercised after 3
years and up to 10 years after the grant date.



The Global Employee (GEM) share options will be issued to eligible employees
of Vodafone subsidiaries in Australia, Egypt, Germany, Greece, Hungary,
Ireland, Italy, Malta. Netherlands, New Zealand, Portugal and Spain.   Each
eligible employee will receive an option to buy Vodafone shares with a face
value equal to 50% of their annual salary.



Sir Christopher Gent, Chief Executive of Vodafone said: 'We want all employees
to think and act like owners and we are therefore extending the share options
that we have granted to all of our UK and US employees, to virtually all
employees in our subsidiaries around the world. As we increasingly act and
organise ourselves as a single global group with a consistent vision and set
of objectives, this move will be critical in ensuring the commitment and
motivation of our employees on whose support we depend.'



                                   - ends -



For further information contact:

Vodafone Group Plc
Tim Brown, Group Corporate Affairs Director
Mike Caldwell, Group Corporate Communications Director
Melissa Stimpson, Head of Group Investor Relations
Jon Earl, Investor Relations Manager
Darren Jones, Investor Relations Manager
Tel:  [phone]



Tavistock Communications
Lulu Bridges / Sarah Landgrebe
Tel:  [phone]