Transaction in Own Shares

Vodafone Group Plc
20 September 2004

                               VODAFONE GROUP PLC
                      PUT OPTION OVER ITS ORDINARY SHARES

Vodafone Group Plc ('Vodafone') announces today that it has sold a put option
over its ordinary shares of U.S.$0.10 to JP Morgan Securities Ltd. (the '
Counterparty') as follows:

Put Option over Ordinary Shares

Trade date of the put option:                                  17 September 2004

Exercise date of the put option:                               29 October 2004

Number of ordinary shares that are the subject of the put 
option:                                                        20,000,000

If the put option is exercised by the Counterparty then the    £24,949,600
total consideration payable by Vodafone from existing cash 
reserves to the Counterparty (after deducting the premium it 
has received from the Counterparty) will be:

This announcement does not constitute, or form part of, an offer or any
solicitation of an offer for securities in any jurisdiction.


                      This information is provided by RNS
            The company news service from the London Stock Exchange