Holding(s) in Company

Carphone Warehouse Group PLC
17 January 2002

Immediate Release 17.01.02



                 The Carphone Warehouse Group PLC ('Company')

                              Interest in Shares

The Company received notice on 15th January 2002 that on 14th January 2002
Morgan Stanley Securities Limited ('MSSL') acquired an interest in shares in
the Company that resulted in it holding a total of 26,614,832 shares, being
approximately 3.196% of the issued share capital of the Company.

MSSL have transferred from time to time 25,831,742 shares to a third party on
terms which gave it the right to require the return of an equivalent number of
shares. Accordingly, the interest in the 25,831,742 shares is pursuant to
Section 208(5) of the Companies Act 1985.


Further information:

Tim O'Gorman

Tristia Clarke                         020 8753 8573

www.carphonewarehouse.com