Interest in Swisscom Mobile

Vodafone Group Plc
19 December 2006


19 December 2006

                    SALE OF 25% INTEREST IN SWISSCOM MOBILE                     


Vodafone today announces that it has agreed to sell its 25% interest in Swisscom
Mobile to Swisscom for a cash consideration of CHF4.25 billion (£1.8 billion).
Swisscom already owns 75% of Swisscom Mobile, which is the leading mobile
operator in Switzerland.

The consideration implies an Enterprise Value to EBITDA1 multiple of 9.1x for
the financial year ending 31 March 2007.

Vodafone and Swisscom Mobile have signed a revised long-term Partner Network
Agreement in Switzerland with an initial five year term. This will enable
Swisscom Mobile and Vodafone customers to continue to benefit from Vodafone's
global products and services such as Vodafone live!, Blackberry from Vodafone
and international roaming services, including preferred roaming arrangements. In
addition, Vodafone and Swisscom will continue to co-operate in serving
international corporate customers.

Commenting on the transaction, Arun Sarin, Chief Executive of Vodafone, said:

'Vodafone and Swisscom have enjoyed an excellent relationship since we
acquired our 25% stake in Swisscom Mobile in January 2001.  We do not,
however, see ourselves as the most appropriate holder of this minority stake in
the longer-term and Swisscom is keen to increase its holding in Swisscom Mobile
to drive through synergies in its fixed and mobile businesses.  It therefore
makes sense to sell our stake now for an attractive price.'

The sale is expected to close on 20 December 2006. The sale proceeds will be
used to reduce Vodafone's net indebtedness.

This transaction does not materially affect Vodafone's proportionate mobile
revenue and EBITDA margin outlook for the financial year ending 31 March 2007.
However, Vodafone will no longer receive anticipated dividends from Swisscom
Mobile of approximately £0.1 billion this year and there will be a corresponding
effect on the Group's free cash flow outlook for the financial year ending 31
March 2007.

As a result of the transaction, Vodafone currently anticipates recording a gain
on disposal of approximately £0.1 billion in its results for the year ending 31
March 2007 and will cease recording its share of the result of Swisscom Mobile
from today's date.

                                    - ends -                                    

For further information:

Vodafone Group

Investor Relations                         Media Relations
Telephone: [phone]             Telephone: [phone]


NOTES TO EDITORS

About Vodafone

Vodafone is the world's leading international mobile telecommunications group
with equity interests in 27 countries across 5 continents with 191.6 million
proportionate customers worldwide as at 30 September 2006 as well as 33 partner
networks. For further information, please visit www.vodafone.com

About Swisscom Mobile

Swisscom Mobile is the mobile telephony market leader in Switzerland with over
60% market share. For further information, please visit www.swisscom-mobile.ch

About Swisscom

Swisscom (Swisscom AG and its subsidiaries) is the largest provider of telecoms
and IT services in all key business segments in Switzerland. For further
information, please visit www.swisscom.ch

Notes:

1.  Swisscom Mobile EBITDA estimate for fiscal year 2007 is based on a
    consensus of research analysts' estimates

2.  For illustrative purposes an exchange rate of CHF 2.38:£1 has been used

3.  Vodafone and Vodafone live! are trade marks of the Vodafone Group.
    Other product and company names mentioned herein may be the trade marks 
    of their respective owners.





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