Vodafone to Increase Stakes

Vodafone Group Plc
27 November 2002


27 November 2002

           VODAFONE TO INCREASE STAKES IN THE NETHERLANDS AND GREECE

Vodafone Group Plc ('Vodafone') announces today that its wholly owned subsidiary
Vodafone Investments Luxembourg Sarl has increased its shareholding in Vodafone
Libertel N.V. ('Vodafone Libertel') by purchasing for cash a 7.564% interest
from ING Group.  Consequently, Vodafone's effective shareholding in Vodafone
Libertel has increased from 70.0% to 77.564%.

Vodafone also announces that its wholly owned subsidiary Vodafone International
Holdings BV has recently agreed to acquire from France Telecom S.A ('FT') its
10.85% interest in Vodafone-Panafon Hellenic Telecommunications Company S.A. ('
Vodafone Panafon') for cash, subject to Greek Stock Exchange regulations.
Vodafone's effective shareholding in Vodafone Panafon would increase from 51.88%
to 62.73% on completion, which is expected to be on or before 31 December 2002.
In addition, as the Vodafone group would become the beneficial owner of these
shares, Vodafone has granted FT a cash settled call option to cover certain of
FT's obligations under its 4.125% Exchange Notes due 29 November 2004, which are
convertible into Vodafone Panafon shares. Exercise of this option will not
change Vodafone's effective interest.

The value of the net assets being acquired represents less than 1% of Vodafone's
net assets in each transaction.

These transactions, which are earnings per share accretive, are in line with
Vodafone's strategy of increasing its stakes in existing operations, where
opportunities arise for the creation of enhanced shareholder value.

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For further information contact:

Vodafone Group

Tim Brown, Group Corporate Affairs Director
Melissa Stimpson, Director of Group Investor Relations
Bobby Leach, Head of Group Financial Media Relations
Darren Jones, Senior Investor Relations Manager
Tel:  [phone]


Tavistock Communications
Lulu Bridges
Tel:  [phone]


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