Creates Global InvestmentFund

Vodafone Group PLC
26 September 2000

                               
     VODAFONE ANNOUNCES CREATION OF GLOBAL INVESTMENT FUND

Vodafone  Group Plc ('Vodafone') announces today the  creation
of  a  global venture fund to invest in wireless and  internet
opportunities.  The initial fund will be capitalised  at  £100
million  and the average size of investment will range between
£2  million and £10 million, targeted primarily at  first  and
second stage investment opportunities. The fund, which will be
managed  by  a  wholly  owned subsidiary of  Vodafone,  called
'Vodafone   Ventures'  will  be  the  principal  channel   for
Vodafone's private equity investments.

Vodafone  Ventures will be governed by a Board  of  Directors,
who  will  be  responsible for making investment decisions  in
line  with Vodafone's strategy. The fund will enable  Vodafone
to  become  a financial, technical and commercial  partner  to
entrepreneurs  with promising ideas, and hence facilitate  the
provision  of advanced wireless and internet technologies  and
services to Vodafone's customers around the world.

Goldman  Sachs,  the  global investment bank,  has  agreed  to
assist  Vodafone  Ventures in its investments.  Goldman  Sachs
will  also  have  the right to co-invest with  Vodafone  on  a
selective basis.

Chris  Gent, Chief Executive of Vodafone commented:  'We  view
the  creation  of Vodafone Ventures as providing an  important
vehicle   for   investing  in  an  area  of  great   strategic
significance  for Vodafone. We are determined to maintain  our
position as the global leader in wireless communication and to
lead  the  way  in wireless internet service development.  The
creation of this fund is a critical step in this direction.'
                               

Notes to Editors:

1.   All enquiries concerning the investment objectives of the
     fund should be e-mailed to [e-mail]

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

Lulu Bridges
Tavistock Communications
Telephone:  [phone]