Re Joint Venture

Vodafone Group PLC
7 January 2002

7 January 2002




   VODAFONE AND VIVENDI UNIVERSAL AGREE REVISED BUSINESS MODEL FOR VIZZAVI



Vodafone Group Plc ('Vodafone') and Vivendi Universal SA ('Vivendi Universal
'), today announce that they have agreed terms on a revised business model for
Vizzavi Europe ('Vizzavi'), the multi-access joint venture portal between the
two companies.



At the time of the launch of the Vizzavi joint venture in May 2000, the
partners made clear their intention to re-examine the revenue and cost sharing
model within two years.  Today, the parties announce their intention to
replace the existing model, which was based on a 50/50 split of the gross
margin between Vizzavi and the partners' mobile operators, with a new
arrangement.  Under the new model, with a greater focus on Vodafone's and
Vivendi Universal's mobile services, the partners' mobile operators will pass
on to Vizzavi up to 5% of the operator access airtime revenues that are
generated through the Vizzavi content portal, with the remaining percentage to
be retained by the partners' mobile operators.  In addition, Vizzavi will earn
80% of all revenues generated through user payments for premium content such
as ringtones, logos, games and other downloads with 20% to be retained by the
partners' mobile operators.  In this way, Vizzavi and the partners' mobile
operators will benefit from a targeted focus on a premium content platform
aimed at increasing customer usage and revenue.



This evolved business model emphasises the added value that Vizzavi can bring
to consumers. It recognises the era of messaging services and will enable
optimisation of services availed by new technology across Europe. The partners
are confident that Vizzavi will achieve its target of break-even by the end of
2003.



Focusing on its key strength of Vodafone and Vivendi Universal's 94.5 million
mobile venture customers across Europe, Vizzavi will also leverage Vivendi
Universal's expertise in content development and implementation across Europe.



The results of the last few months clearly demonstrate Vizzavi's achievements
in growing the business: in the quarter ended December 2001 there were 6.3
million customers (42% ahead of the previous quarter), 4.1 million average
daily web page views (33% ahead of the previous quarter) and 2.1 million
average daily wap page views (86% more than at the end of the previous
quarter).



In line with the revised business model, Vizzavi will be undertaking a
restructuring programme. It is anticipated that the associated job reductions
will be in the region of 100 across Europe.



In addition, Evan Newmark, the CEO of Vizzavi since its creation in May 2000,
has announced that he will be leaving the business effective as at 31 January
2002.  Guy Laurence, currently the Chief Marketing Officer, will succeed him
as CEO.



Jean-Marie Messier, Chairman and Chief Executive Officer of Vivendi Universal,
commented; 'Vizzavi is entering a new era. This revised business model will
give more commercial and financial flexibility for Vizzavi's development and
Vivendi Universal will have a very important role as content provider for the
company. The new model demonstrates Vivendi Universal's and Vodafone's
confidence in Vizzavi's future as the number one European multi-access portal.
I would like to take this opportunity to thank Evan for his significant
achievements since Vizzavi's creation. I also welcome Guy as the new CEO, who
has done excellent work as Vizzavi's Chief Marketing Officer, a key field for
Vizzavi's success. With Vodafone we have developed a real and long term
partnership with a key pan-European focus.'





Sir Christopher Gent, Chief Executive of Vodafone, said; 'This revised
agreement aligns more closely the interests of the partners' mobile operators
with the commercial focus of Vizzavi in an emerging marketplace. I would like
to thank Evan for all he has accomplished in developing Vizzavi to its current
leadership position. Guy is an excellent appointment as the new CEO given his
previous track record within the business. We have strong management, the
right business model and the premier partner in Vivendi Universal, giving us
confidence in the future performance of the business.'



                                   - ends -





For further information:

Vodafone Group Plc

Tim Brown, Group Corporate Affairs Director

Melissa Stimpson, Head of Group Investor Relations

Bobby Leach, Head of Group Financial Media Relations

Jon Earl, Senior Investor Relations Manager

Darren Jones, Senior Investor Relations Manager

Tel:  [phone]



Tavistock Communications

John West / Peter Willetts

Tel:  [phone]