Director Shareholding

Vodafone Group Plc
28 March 2003

Vodafone Group Plc ('the Company')

In accordance with Section 329 of the Companies Act 1985, I have to inform you
that on 27 March 2003 Julian Horn-Smith, a director of the Company, exercised an
option granted to him in July 1996 under the terms of the Vodafone Group Plc
Share Option Scheme (a share scheme not approved by the Inland Revenue under
which the option exercise period expires seven years after grant) over 316,000
ordinary shares of US$0.10 each in the capital of the Company at an exercise
price of 48.3p per share. Subsequently, the shares were sold at a price of
114.5p per share.

I further have to inform you that on 28 March 2003 Eileen Horn-Smith, the wife
of Julian Horn-Smith, bought 129,180 shares of US$0.10 each in the capital of
the Company at a price of 115.25p per share.

As a result of these transactions, Mr Horn-Smith has an increased interest,
excluding unexercised share options and incentive shares, of 1,348,898 shares in
the Company.

S R Scott
Company Secretary


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