Preliminary Agreement Signed re Poland Stake

Vodafone AirTouch PLC 22 November 1999 VODAFONE AIRTOUCH SIGNS PRELIMINARY AGREEMENT TO INCREASE STAKE IN POLAND Vodafone AirTouch Plc announces today that its wholly owned subsidiary AirTouch Communications, Inc. (AirTouch) has entered into a preliminary sale agreement with regard to the 0.50% stake in Polkomtel S.A. held by BIG Bank GDANSKI S.A. The agreement relates to 75,000 registered common shares in Polkomtel, being acquired for a cash consideration, payable on completion if AirTouch acquires the entire block of 75,000 shares, of approximately US$13 million. The preliminary agreement is subject to rights of pre-emption in the Articles of Association of Polkomtel and, therefore, the amount by which the Vodafone AirTouch stake in Polkomtel will increase will depend upon the extent to which, if any, the other shareholders elect to exercise their pre-emptive rights, which are pro rata to existing shareholdings. The procedures relating to the exercise of pre- emption rights are expected to be concluded in approximately 90 days, with the closing of the transaction occurring shortly thereafter. Vodafone AirTouch currently owns 19.25% of Polkomtel's issued share capital. Polkomtel is the operator of the Plus GSM mobile telephone service in Poland. It was awarded its licence in February 1996, and at the end of September 1999 had over 1.3 million customers. For further information contact: Tim Brown, Investor Relations Director, or Melissa Stimpson, Senior Investor Relations Manager, or Mike Caldwell, Corporate Communications Director at Vodafone AirTouch Plc Telephone +44 (0)1635 33251 Lulu Bridges Tavistock Communications Limited Tel: +44 (0) 171 600 2288
UK 100

Latest directors dealings