Preliminary Results - Part 4

Vodafone Group PLC
29 May 2001

PART 4

This document contains certain 'forward-looking statements' with respect
to  the financial condition, results of operations and business and some
of our plans and objectives with respect to these items.  In particular,
certain  statements  concerning our expectations  and  plans,  strategy,
management's  objectives,  prospects, trends in  market  shares,  market
standing,  overall market trends, and revenues, contain  forward-looking
information.   In  addition, 'forward-looking statements'  also  include
statements  made with respect to expectations as to launch and  roll-out
dates,  as well as the scope thereof, for products and services,  future
performance, costs, revenues, improvements in margin, expected synergies
and  tax  savings, cash flows, future average revenue per  customer  and
future  revenues derived from the new non-voice services  which  we  are
currently   developing,  expected  EBITDA  results,   growth,   wireless
penetration   rates  and  growth  in  internet  use  and   other   trend
projections.  Forward-looking statements are sometimes, but not  always,
identified  by  their  use  of a date in the future  or  such  words  as
'anticipates',  'aims',  'due',  'could',  'may',  'should',  'expects',
'believes',  'intends', 'plans', 'targets', 'goal' or  'estimates'.   By
their  nature,  forward-looking statements  are  inherently  predictive,
speculative  and  involve risk and uncertainty because  they  relate  to
events and depend on circumstances that will occur in the future.  There
are a number of factors that could cause actual results and developments
to  differ materially from those expressed or implied by these  forward-
looking statements.  These factors include, but are not limited to,  the
following,  changes  in  economic conditions in markets  served  by  our
operations  that would adversely affect the level of demand  for  mobile
services,   greater  than  anticipated  competitive  activity  requiring
reduced  pricing  and/or new product offerings or  resulting  in  higher
costs  of  acquiring new customers, slower customer  growth  or  reduced
customer retention, greater than expected growth in customers and  usage
and  greater than anticipated costs associated with 3G licence auctions,
requiring  increased  investment  in network  capacity,  failure  to  be
awarded  3G  licences  in some of our markets,  the  impact  on  capital
spending  from  the  deployment  of  new  technologies,  or  the   rapid
obsolescence  of existing technology, the possibility that technologies,
including   mobile  internet  platforms,  and  services,  including   3G
services,  will not perform according to expectations or  that  vendors'
performance  will  not meet our requirements, changes in  the  projected
growth rates of the mobile telecommunications industry, accuracy  of  or
any  changes in our projected revenue model or global branding strategy,
our ability to meets the objectives of our management initiatives, lower
than  anticipated future penetration rates and average revenue per  user
rates,  future  revenue  contributions of the services  we  offer  as  a
percentage  of  total  revenue,  difficulties  in  meeting  our   target
improvements in margin, lower than expected impact of GPRS  and  Vizzazi
Europe's  partnership  with our operators on our  future  revenues,  our
ability to harmonize our mobile platforms, including our Global Internet
Platform, any delays, impediments or other problems associated with  the
roll-out  and scope of 3G technology and services, multi-mode  handsets,
SIM  swaps,  colour displays, and Vizzazi services in new  markets,  our
ability  to  offer  new  services, such  as  Virtual  Home  Environment,
Eurocall,  traffic telematic services for the automotive industry,  pre-
paid   and  GRPS  roaming  ability,  assisted  roaming,  mobile  payment
facilities (with E-wallet and micropayment functionality), chat, instant
messaging and unified messaging, streaming audio and video, or with  the
delivery  and  performance of GPRS handsets and other key products  from
our  suppliers, greater than anticipated prices of new mobile  handsets,
any conditions imposed in connection with regulatory approvals sought in
connection  with pending acquisitions and dispositions, changes  in  the
regulatory framework in which we operate, and changes in exchange rates,
including  in  particular the exchange rate of the pound  to  the  euro.
Furthermore, a review of the reasons why actual results and developments
may  differ materially from the expectations disclosed or implied within
forward-looking  statements  can be found  in  the  description  of  our
business  and  our  management's discussion and  analysis  of  financial
condition and results of operations contained on pages 7 to 34 and 44 to
53  of our U.S. Annual Report on Form 20-F for the year ended March  31,
2000.    All  subsequent  written  or  oral  forward-looking  statements
attributable to Vodafone, any Vodafone members or persons acting on  our
behalf are expressly qualified in their entirety by the factors referred
to  above.   Vodafone  does not intend to update  these  forward-looking
statements.



APPENDIX 1 - VODAFONE GROUP PLC - MOBILE TELECOMMUNICATIONS BUSINESSES
CUSTOMER INFORMATION AS AT 31 MARCH 2001

                             REGISTERED                                   
                        %age   PROP'ATE    %age     CONTROLLED ACTIVE
                      OWNER-  CUSTOMERS  PREPAY         (Note 1)
                        SHIP                     -----------------------
COUNTRY OPERATOR        Note    (000's)     (%)  PREPAY  CONTRACT  TOTAL
                           2
                                                    (%)        (%)   (%)
                                                                        
EUROPE                                                                  
Germany D2 Vodafone     99.2     20,807      60      85         89    87
Greece  Panafon         55.0      1,287      68      81         92    84
        Vodafone
Hungary Vodafone        50.1        112      89      85        100    87
Italy   Omnitel         76.1     11,937      90      93         92    93
        Vodafone
        (Note 3)
Malta   Vodafone        80.0         86      88     100        100   100
Nether- Libertel        70.0      2,297      69      87         99    91
lands   Vodafone
        (Note 3)
Portugal Telecel        50.9      1,261      75      90        100    93
         Vodafone
Spain   Airtel          73.8      5,275      56      84         93    88
        (Note 3)
Sweden  Europolitan     71.1        717      23      84         91    89
        Vodafone
Belgium Proximus        25.0        915      57                         
France  SFR             31.9      3,297      44                         
Poland  Plus GSM        19.6        518      38                         
Romania Connex GSM      20.1        264      57                         
Switzer-Swisscom        25.0        828      40                         
land
TOTAL                            49,601      63                         
                                                                        
UNITED  Vodafone       100.0     12,279      65      82         99    88
KINGDOM
                                                                        
UNITED  Verizon         45.0     11,570       8                         
STATES  Wireless               (Note 5)
        (Note 4)
                                                                        
ASIA                                                                    
PACIFIC
Austr-  Vodafone        91.0      1,921      33      95         97    96
alia    (Note 3)
New     Vodafone       100.0        889      77      95         99    96
Zealand (Note 3)
China   China            2.2      1,134      34                         
        Mobile
Fiji    Vodafone        49.0         27      87                         
India   RPG             20.6         14      49                         
        Cellular
Japan   J-Phone        26.6-      2,826       3                         
                        30.9
Korea   Shinsegi        11.7        387       -                         
TOTAL                             7,198      29                         
                                                                        
MIDDLE EAST                                                             
AND AFRICA
Egypt   Click GSM       60.0        703      85      98         88    97
Kenya   Safaricom       40.0         37     100                         
South   Vodacom         31.5      1,609      79                         
Africa
TOTAL                             2,349      81                         
                                                                        
GROUP                            82,997      43      88         94    90
TOTAL                          (Note 5)


Note  1  -  Active customers are defined as customers who have  made  or
received  a  chargeable  call  in  the  last  three  months  or,   where
information  is  not available, defined as customers  who  have  made  a
chargeable call in the last three months (see 3 below).

Note  2  - All ownership percentages are stated as of 31 March 2001  and
exclude  options,  warrants or other rights or obligations  of  Vodafone
Group  Plc  to increase or decrease ownership in any venture.  Ownership
interests have been rounded to the nearest tenth of one percent.

Note 3 - Networks where the calculation of active customers is based  on
both  the  making or receipt of a call in the last three months  (see  1
above).

Note  4 - The Group's proportionate customer base has been adjusted  for
Verizon  Wireless's  proportionate ownership of  its  customer  base  of
approximately 94.8%.

Note  5  -  This  number has been amended to reflect Verizon  Wireless's
recent adjustment of 900,000 to their venture customer base.

Note  6  -  Venture customers is defined as the number of  customers  in
ventures in which the Group has an ownership interest.


APPENDIX 2 - VODAFONE GROUP PLC - MOBILE TELECOMMUNICATIONS BUSINESSES
ARPU DATA FOR 12 MONTH PERIOD TO 31 MARCH 2001

                                  ARPU (Average revenue per user) (Note 1)
                                 -------------------------------------------
                
                        LOCAL     ACTIVE    ACTIVE   ACTIVE     REGISTERED
COUNTRY  OPERATOR    CURRENCY     PREPAY  CONTRACT    TOTAL          TOTAL
                                (Note 2)  (Note 2) (Note 2)               
EUROPE                                                                    
Germany  D2 Vodafone      EUR        178       683      430            378
Greece   Panafon          EUR        248       698      418            353
         Vodafone
Hungary  Vodafone         HUF     14,942   253,267   58,694         51,364
Italy    Omnitel          EUR        311       801      364            338
         Vodafone
Malta    Vodafone         MTL        133       855      271            269
Nether-  Libertel         EUR        198       774      394            357
lands    Vodafone
Portugal Telecel          EUR        137     1,103      418            392
         Vodafone
Spain    Airtel           EUR        174       749      422            372
Sweden   Europolitan      SEK      1,076     7,182    5,939          5,327
         Vodafone
                                                                          
                                                                          
UNITED   Vodafone         GBP        191       556      348            306
KINGDOM
(Note 3)
                                                                          
ASIA                                                                      
PACIFIC
Austr-   Vodafone         AUD        352       982      804            773
alia
New      Vodafone         NZD        323     1,903      763            731
Zealand
                                                                          
MIDDLE                                                                    
EAST &
AFRICA
Egypt    Click GSM        EGP      1,447     2,809    1,633          1,582
                                                                          
                                                                          
                                                                        
Note 1 - ARPU is calculated for the twelve month period to 31 March 2001
and excludes handset revenues and connection fees.

Note 2 - Active ARPU has been calculated by adjusting registered ARPU
for the proportion of active customers at 31 March 2001.

Note 3 - UK ARPU has been calculated based on total UK service revenue,
consistent with other territories. The calculation was formerly based on
UK network service revenue only.



APPENDIX 3 - VODAFONE GROUP PLC - MOBILE TELECOMMUNICATIONS BUSINESSES
                                    
NON-VOICE SERVICES AS A PERCENTAGE OF SERVICE REVENUES


                                    
               YEAR ENDED 31 MARCH 2001        MARCH 2001 (MONTH ONLY)
            ------------------------------  -----------------------------
                                                         
                                                                    TOTAL
OPERATOR    MESSAGING  INTERNET  TOTAL NON-    MESSAGIN  INTERNE      NON
                 DATA      DATA      VOICE           G      DATA   -VOICE
                                  SERVICES        DATA           SERVICES
                                                                
EUROPE                                                           
D2 Vodafone     13.1%      0.3%      13.4%       15.7%      0.5%    16.2%
Omnitel          6.0%      0.2%       6.2%        7.0%      0.2%     7.2%
  Vodafone
Others           4.1%      0.1%       4.2%        5.0%      0.2%     5.2%
TOTAL            8.4%      0.2%       8.6%        9.0%      0.3%     9.3%
                                                                         
UNITED           5.7%      0.9%       6.6%        6.5%      1.1%     7.6%
  KINGDOM
                                                                         
UNITED             -       0.6%       0.6%          -       0.8%     0.8%
  STATES
  (Verizon
  Wireless)
                                                                         
ASIA                                                             
PACIFIC
Vodafone         5.5%      0.1%       5.6%        7.2%      0.1%     7.3%
 Pacific
J-Phone          4.0%      5.6%       9.6%        4.7%      8.2%    12.9%
                                                                         
MIDDLE           1.4%        -        1.4%        1.5%      0.1%     1.6%
  EAST &
  AFRICA
                                                                 
PROPORTIONATE    5.3%      0.9%       6.2%        5.8%      1.2%     7.0%
  GROUP TOTAL
                                                                 
                                                                 
                                                                 
CONTROLLED                                                               
  GROUP TOTAL    7.7%      0.4%       8.1%        8.8%      0.5%     9.3%