Sale of Infostrada

Vodafone Group PLC
16 March 2001


VODAFONE AGREES TERMS FOR THE SALE OF INFOSTRADA TO ENEL

Vodafone  Group  Plc  ('Vodafone')  announces  that   its
subsidiary Mannesmann AG has agreed revised terms for the
sale  of Infostrada S.p.A. ('Infostrada') to Enel  S.p.A.
('Enel').

*    The sale price is EUR 7.25 billion for the whole  of
     the issued share capital of Infostrada. In addition,
     Enel  will assume the net debt of Infostrada,  which
     was  EUR  1.3 billion at 26 February 2001.  The  net
     debt  of Infostrada at this date comprised an intra-
     group debt owed to Vodafone Group companies equal to
     approximately EUR 1.0 billion.

*    The sale is expected to complete by 29 March 2001.

*    The consideration for the equity will be entirely in
     cash  and paid on completion.  The intra-group  debt
     owed  to Vodafone Group companies will be repaid  in
     full in cash on completion.

*    Under  the  original  terms of the  transaction  the
     price   was   subject  to  a  market-related   price
     adjustment.    Vodafone  entered  into   a   hedging
     transaction in order to obtain protection against an
     adverse  adjustment.  This hedging  transaction  has
     now  been  closed with cash proceeds to Vodafone  of
     approximately EUR 410 million.  The revised terms do
     not   make  provision  for  a  market-related  price
     adjustment.

*    The  agreement  is subject only to the approval of the 
     Mannesmann AG Supervisory Board.

*    Vodafone  will  apply the proceeds of  the  sale  to
     reduce group debt.

Infostrada

Infostrada  is  Italy's  largest alternative  fixed  line
operator, with over 3.5 million voice customers  and  4.1
million internet subscribers as at 31 December 2000.

Infostrada  recorded  revenues  for  the  year  ended  31
December  2000 of EUR 932 million and EBITDA  of  EUR  12
million for that year.


Enel

Enel  is  Italy's national electricity provider  and  its
largest integrated utility. Enel has a 56.6% shareholding
in Wind, a fixed and mobile telecom operator serving both
residential and business customers. France Telecom  holds
the remaining 43.4% in Wind.

Vodafone was advised by UBS Warburg.

For further information:

Tim Brown, Group Corporate Affairs Director
Melissa Stimpson, Head of Group Investor Relations
Jon Earl, Investor Relations Manager
Darren Jones, Investor Relations Manager
[phone]


John West
Tavistock Communications
[phone]


Warren Finegold
Alberto Franzone
Andre Sokol
UBS Warburg Ltd.
[phone]

This  announcement has been issued by  and  is  the  sole
responsibility of Vodafone Group Plc. UBS Warburg Ltd., a
subsidiary  of UBS AG, which is regulated in  the  United
Kingdom  by The Securities and Futures Authority Limited,
is  acting for Vodafone Group Plc and for no one else  in
connection with the proposed transaction and will not  be
responsible to anyone other than Vodafone Group  Plc  for
providing  the protections afforded to customers  of  UBS
Warburg Ltd., or for providing advice in relation to  the
transaction.