Analyst & Investor Day

Vodafone Group Plc
27 September 2004


27 September 2004

                        VODAFONE ANALYST AND INVESTOR DAY

Vodafone Group Plc ('Vodafone') is hosting today an analyst and investor day at
its headquarters in Newbury, England.

The day will principally consist of a series of presentations by the senior
management from Vodafone's largest operating companies and from Verizon
Wireless, its associated undertaking in the United States. The presentations by
Vodafone UK, Vodafone Japan, Vodafone Italy, Verizon Wireless and Vodafone
Germany will provide an overview of each of the individual businesses.

Arun Sarin, Chief Executive of Vodafone, will introduce the day's events by
reiterating the guidance for the current financial year as outlined at the
company's preliminary results announcement in May 2004.

In addition, Vodafone will confirm that it expects to reduce mobile capital
expenditure to less than 10% of mobile revenue in the year to 31 March 2008.

Vodafone will also disclose its expectations of the financial benefits of its
One Vodafone programme to deliver the benefits of scale and scope. The One
Vodafone initiatives are expected to achieve £2.5 billion of annual pre-tax
operating free cash flow improvements by the year ending 31 March 2008. Cost
initiatives are anticipated to generate improvements of £1.4 billion, with a
further £1.1 billion from revenue initiatives. Further details of the
anticipated benefits of the One Vodafone programme will be given in the full
presentation and related materials.

In addition, Vodafone will be providing an update on the impact of the
transition to International Financial Reporting Standards ('IFRS'), in
particular the scope of consolidation for some of its operating companies. Under
IFRS, Vodafone's 76.8% interest in Vodafone Italy and its interests in five
other operating companies (South Africa, Romania, Poland, Fiji and Kenya) will
be accounted for as joint ventures and will therefore be proportionately
consolidated. Vodafone is well advanced in its preparations for these accounting
changes and will report under IFRS from 1 April 2005.

The event will be broadcast live via a webcast available on the Vodafone website
(www.vodafone.com/investor) beginning at 10.00am (UK time). All presentations
and related materials will be made available through the webcast.

                                    - ends -

For further information:

Vodafone Group

Investor Relations
Melissa Stimpson
Darren Jones
Tel: [phone]

Media Relations
Bobby Leach
Ben Padovan
Tel: [phone]

Tavistock Communications
Lulu Bridges
Justin Griffiths
Tel: [phone]

Forward Looking Statements
This press release contains forward-looking statements about the projected
benefits of the One Vodafone initiative, including cost-savings and revenue and
cash flow benefits, and about the ratio of capital expenditures to sales. The
statements are subject to risks and uncertainties because they relate to future
events. Some of the facts which may cause actual results to differ from these
forward looking statements are discussed in the written materials that accompany
the presentations for the investor day referred to in this release and others
can be found by referring to the information contained under the headings
'Cautionary Statement Regarding Forward Looking Statements' and 'Risk Factors'
in our Annual Report & Accounts and Form 20-F for the year ended 31 March 2004.
The written materials accompanying the investor day presentation and our Annual
Report & Accounts and Form 20-F can be found on our website.

Non-GAAP Financial Information
This press release also contains certain non-GAAP financial information. The
Vodafone Group's management believes these measures provide valuable additional
information in understanding the performance of the Vodafone Group or the
Vodafone Group's businesses because they provide measures used by the Vodafone
Group to assess performance. Although these measures are important in the
management of the business, they should not be viewed as replacements for, but
rather as complementary to, the comparable GAAP measures such as turnover and
reported items on the consolidated profit and loss account or the consolidated
statement of cash flows.



                      This information is provided by RNS
            The company news service from the London Stock Exchange