Disposal of Vodafone Sweden

Vodafone Group Plc
31 October 2005


31 October 2005

                            SALE OF VODAFONE SWEDEN                             

Vodafone today announces that it has agreed to sell its 100% interest in
Vodafone Sweden to Telenor, the pan-Nordic telecommunications operator.

Vodafone Sweden is being sold for an Enterprise Value of €1,035 million (£704
million), implying an Enterprise Value to EBITDA multiple of 11x for the
financial year ending 31 March 2006. Net cash proceeds to Vodafone after
assumption of net debt by Telenor will be approximately €970 million (£660
million).

Commenting on the transaction, Arun Sarin, Chief Executive of Vodafone, said:

'We have a good business in Sweden, but the particular industry structure and
regulatory environment means that it makes more sense for our customers, our
employees and our shareholders for a pan-Nordic player like Telenor to own the
company. I'm sure that Telenor will be able to serve our customers well,
particularly in the corporate sector, given its presence across the Nordic
region.'

Vodafone and Telenor have agreed the terms of a Partner Network Agreement in
Sweden, allowing Vodafone Sweden and Vodafone customers to continue to benefit
from Vodafone's global brand, products and services in Sweden.

As a result of the transaction, Vodafone will record an impairment charge of
approximately £0.5 billion in its interim results for the six months ended 30
September 2005.

The sale is expected to close by the end of calendar year 2005, subject to EU
regulatory approval.

                                     -ends-                                     

For further information:

Vodafone Group Plc

Investor Relations                     Media Relations
Telephone: [phone]         Telephone: [phone]


Notes to Editors

About Vodafone

Vodafone is the world's leading mobile telecommunications group with operations
in 27 countries across 5 continents with over 165 million proportionate
customers worldwide as at 30 June 2005 as well as 14 partner networks. For
further information, please visit www.vodafone.com.

About Vodafone Sweden

Vodafone Sweden is defined as Europolitan Vodafone AB, its subsidiaries and
investments, including its interest in the 3GIS network infrastructure sharing
joint venture with Hi3G Access AB. As at 31 March 2005, Vodafone Sweden had
approximately 1.5 million customers. For the year to 31 March 2005, Vodafone
Sweden had revenues of approximately €703 million and EBITDA of approximately
€141 million.

About Telenor

Telenor is the largest provider of telecommunications services in Norway, and
has substantial international operations both in fixed and mobile
communications. For further information, please visit www.telenor.com.

For illustrative purposes exchange rates of SEK9.53:€1 and £0.68:€1 have been
used.




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