Vodafone Australia Acqn, etc

VODAFONE AIRTOUCH PLC 17 August 1999 VODAFONE AUSTRALIA TO ACQUIRE VODAFONE NEW ZEALAND AND 49% OF VODAFONE FIJI Vodafone Holdings Australia Pty Ltd announced today that it has entered into agreements with Vodafone Europe Holdings B.V., an indirect wholly owned subsidiary of Vodafone AirTouch Plc, to acquire the entire issued share capital of Vodafone New Zealand's operations (Vodafone New Zealand Limited and Vodafone Mobile NZ Limited) and also 49 per cent of the issued share capital of Vodafone Fiji Ltd. Telecom Fiji Ltd will continue to own the remaining 51 per cent of Vodafone Fiji Ltd. The agreements are valued at approximately A$1.25 billion. Dr Brian Clark, chief executive of Vodafone Holdings, will continue to have management responsibility for the regional group. Mr John Rohan, and Mr Aslam Khan, will continue as the managing directors of Vodafone New Zealand and Vodafone Fiji respectively. Vodafone in Australia achieved 78 per cent growth in the full year to 31 March 1999, bringing total customer numbers to 972,000. In the latest quarter, to June 1999, more than 100,000 net new customers connected to Vodafone, bringing the company's total Australian customer base to more than 1,070,000. Vodafone New Zealand, New Zealand's only GSM operator, was acquired by Vodafone Group Plc in October 1998. Since then, the company's customer base has grown substantially, reaching 181,000 customers by 31 March 1999, up from 130,000 customers upon acquisition - an annualised growth rate of 94 per cent. Vodafone Fiji, the country's sole GSM operator, had 8,000 customers at 31 March 1999, an annualised growth rate of 59 per cent. Dr Clark said that the agreements will establish Vodafone as a leading regional provider of wireless telecommunications services. 'The agreements will allow us to realise synergies within the region, to build critical mass in our operations and customer base and to rationalise the group into one regional structure for the future,' said Dr Clark. As previously announced, Vodafone AirTouch Plc is considering an initial public offering (IPO) of its Australasian interests in the first half of 2000. Vodafone AirTouch Plc has said that it intends to maintain a controlling shareholding after any such offering. Each agreement is subject to a number of conditions, including regulatory approval and the listing of the share capital of Vodafone Holdings Australia Pty Ltd. About Vodafone Vodafone is one of Australia's leading wireless telecommunications providers offering quality services to more than one million Australian customers. Vodafone is also a leader in the Australian pre-paid mobile telephone market. Worldwide, Vodafone AirTouch Plc is the world's largest mobile telecommunications company with almost 28 million customers, excluding paging customers. From April to June 1999, the Group signed up more than 2.303 million net new proportionate customers worldwide. The company has interests in mobile telephone networks in 23 countries over five continents. It operates through three divisions: the UK; Europe, Middle East and Africa; and USA/Asia Pacific. For further information contact: Terry Barwick, Director of Corporate Affairs, or Melissa Stimpson, Senior Investor Relations Manager Vodafone AirTouch Investor Relations Department Telephone: (01635) 33251 or Lulu Bridges Tavistock Communications Limited Telephone: (0171) 600 2288 or Michelle Hindson, General Manager, Corporate Communications Vodafone Holdings Australia Pty Ltd Telephone: +61 (0)2 9415 7049
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