Holding in Another Company

Carphone Warehouse Group PLC
23 August 2000


  
    The Carphone Warehouse Group PLC invests £2 million in
                          HomePro.com
 -  Strategic third round funding from The Carphone Warehouse
    Group PLC and Atlas Venture consolidates web-based home
       improvement company's  European expansion plans -
                               
HomePro.com   (www.HomePro.com) announces it has  successfully
completed a third round of funding with a strategic £2 million
investment  from  The  Carphone  Warehouse  Group's   Wireless
Investment Services Division, which increases its shareholding
in  HomePro.com  from  9% to 16%, and  follow  on  funding  of
£700,000 from lead VC investor Atlas Venture.

Andrew   Wessels,  an  Investment  Manager  of  The   Carphone
Warehouse's   Wireless  Internet  Services   division,   said:
'HomePro.com will use Carphone's pan-European chain of  retail
outlets and its mobile internet portal Mviva 'powered by  AOL'
to  assist in the roll-out of its services across Europe.  The
Carphone  Warehouse  is  an excellent  strategic  partner  for
HomePro.com  as it pursues its European expansion  plans.   As
the  only pan-European retailer of mobile phones we are widely
recognised as a unique provider of simple, independent advice,
tailoring  mobile  communications to customers  on  the  move.
This closely fits with HomePro's business strategy.'

Adam  Burdess, CEO and co-founder of HomePro, said:  'In  this
round,  we  set  out to secure real competitive and  strategic
advantage.   Carphone's Mviva wireless  portal,  its  European
reach and the continuing support of Atlas Venture will help us
realise  our  ambition to be the category killer in  the  home
improvement space.  To do this, we need to service  the  needs
of   both   our  homeowner  consumers  and  our   many   trade
professionals  efficiently - extending the wireless  dimension
to our service helps us to do that.  We are continuing to make
great  strides in generating massive consumer demand,  and  in
building  the most loyal and highest quality network  of  home
improvement professionals across Europe.'

Christopher  Spray, Senior Principal at Atlas  Venture,  said:
'HomePro  has been able to respond intuitively to  the  recent
negative shift in market conditions by concluding a number  of
strategic deals which generate substantial revenue streams  in
the  short  term, whilst not losing sight of its vision.  This
third  round demonstrates HomePro is firmly on track  for  the
long  term with a new customer service dimension and  European
roll-out  advantage through Carphone's involvement and  Atlas'
continued support.'

The  investment  follows the news of HomePro's  alliance  with
Emap's  Construction Plus.  As part of the deal,  Construction
Intelligence,  Construction Plus'  new  product-sourcing  tool
which  it operates with Wolseley and Travis Perkins,  will  be
made available to HomePro's 5,000 fully vetted tradesmen.   In
addition,  HomePro.com  will  use  content  from  Emap's  vast
library  and Construction Intelligence will be accessible  via
'Mviva  powered  by  AOL', The Carphone  Warehouse's  recently
launched  mobile Internet portal.

The  round  follows a £6m second round in January, which  went
towards the acquisitions of French company UltraPro.fr and the
UK organisation Fair Trades earlier in the year, alongside the
organic ramp-up of its UK business.
                               
  
About HomePro.com:
HomePro.com is the first web community of its kind in the  UK,
dedicated  to  matching homeowners who  are  undertaking  home
improvement projects with pre-approved, available professional
contractors.   Set  up  in the UK in mid-1999  as  a  strictly
independent   authority  in  the  home   improvement   market,
homepro.com offers this service to homeowners free  of  charge
and  can  be found at http://www.homepro.com.  The company  is
funded by The Carphone Warehouse Group PLC, Jellyworks.com and
international  venture capital firm Atlas Venture  and  Sussex
Place  Partners  (SPP),  a London Business  School  investment
vehicle.

About   The  Carphone  Warehouse  Group's  Wireless   Internet
Services division:
The  Carphone  Warehouse Group PLC is  the  only  pan-European
retailer of mobile telephony products and services.  It is the
leading  independent mobile phone retailer in the UK,  France,
Spain,  Sweden  and  Ireland and is one of  the  leading  such
retailers  in  Belgium, and the Netherlands, in each  case  in
terms  of  market  share.    The Group  has  over  900  stores
operating in 14 countries.

The  Carphone Warehouse's Wireless Internet Services  division
comprises the Group's mobile internet portal 'Mviva powered by
AOL'  launched in the UK in July (to be launched across Europe
in   the   Autumn)  and  strategic  investments  in   wireless
technology and internet-related businesses.  The Group intends
to  use  its  expertise in the wireless technology  sector  to
enhance  content and service offered by Mviva and The Carphone
Warehouse to its customer base.

About Atlas:
Atlas   Venture  is  the  leading  international,  early-stage
venture  capital  firm  investing in Internet  infrastructure,
communications and life sciences. With offices  in  Amsterdam,
Boston,  London, Menlo Park, Munich and Paris, Atlas Venture's
investments  are  split evenly between the United  States  and
Europe.  Founded  in  1980, Atlas Venture has  organized  five
international  funds, and currently manages  $1.6  billion  in
committed capital. The Atlas Venture investment team comprises
seasoned  operating executives and career venture capitalists,
who have been deeply involved in the formation and development
of  over  250  companies  worldwide.  Recent  Atlas  portfolio
company  IPO's  include  Speechworks  (Nasdaq:  SPWX),  deCode
(NasdaqNM:DCGN   and  Easdaq),  Variagenics  (Nasdaq:   VARI),
Exelexis   (Nasdaq:  EXEL),  Orchestream  (LSE:  OCH),   Modex
Therapeutics  (SWX: MDXN), and Actelion (SWX:  ATLN).   Recent
acquisitions  of  Atlas portfolio companies  include  Cerulean
(Aether), OnDisplay (Vignette), TradingDynamics (Ariba), Omnia
(Ciena) and RightWorks (Epiphany).  (For more information, see
www.atlasventure.com.)

For more information:
Gary Bradshaw / Luke Hayward    Dan Cobley
Joe Public Relations            HomePro.com
0208 237 4005/4025              0207 535 8856
[e-mail]  [e-mail]
[e-mail]


The Carphone Warehouse Group plc
Press office
Emma Cantrill                   Tristia Clarke, Head of PR
GCI Jane Howard                 The Carphone Warehouse
[e-mail]     [e-mail]
0845 604 1207                   020 8896 5573

Atlas Venture Press Office
Narda Shirley or Kate Jenkins
Gnash Communications
0207 243 4443
[e-mail]
[e-mail]