UMTS Licence/Financing Update

Vodafone Group PLC
25 August 2000

    VODAFONE GROUP UMTS LICENCE AND FINANCING UPDATE

Vodafone   Group  Plc  announces  today  that   following
completion  of  the sale of Orange plc by its  subsidiary
Mannesmann AG to France Telecom earlier this week, it has
today  received  notice  from the UK  Radiocommunications
Agency  of  the  intention, pursuant  to  the  3G  mobile
spectrum  auction  held earlier in  the  year,  to  grant
Licence  B  to  Vodafone Limited  on  1  September  2000.
Accordingly,   the  Company  will  be   making   payments
approaching £6bn and EUR 8.5bn in the first few  days  of
September on behalf of its subsidiaries Vodafone  Limited
and  Mannesmann Mobilfunk GmbH for UMTS licences  awarded
in  the UK and Germany respectively.  Cash proceeds  from
the  sale  of  Orange will in part be used to  fund  both
licence  payments, with the balance reducing the  Group's
debt.

The  Group's  debt  will fall further when  proceeds  are
received   from   the  purchasers  of   Mannesmann   AG's
automotive  and  industrial  business  and  its   watches
business,  which is likely before the end  of  September.
As  a  result, Vodafone Group expects its debts to amount
to  between  £13bn and £14.5bn by its half year  end,  30
September 2000.  The Group also owns 113.8 France Telecom
shares (approximate market value of EUR 14.9bn) and a EUR
2.1bn France Telecom loan note which will be redeemed for
cash over the short to medium term.

Vodafone  Group's  current long  and  short  term  credit
ratings  are A2/P1 from Moody's and A/F1 from Fitch.   In
addition  it has an outstanding positive credit watch  A-
/A2 rating from Standard & Poor's which is expected to be
resolved shortly.


For further information contact:
Terry Barwick, Director of Corporate Affairs
Tim Brown, Investor Relations Director
Melissa Stimpson, Senior Investor Relations Manager
At Vodafone Group Plc
Telephone: [phone]