Re: Oskar and Mobifon Bonds

Vodafone Group Plc
08 July 2005


8 July 2005

    UPDATE OF REFINANCING IN NEWLY ACQUIRED CZECH AND ROMANIAN SUBSIDIARIES     

Vodafone Group Plc today announces the completion of the bond redemption by
Oskar Mobil a.s ('Oskar') and the expiry of the bond tender and consent
solicitation by MobiFon Holdings B.V. ('MobiFon') launched on 6 June 2005.

                                     OSKAR                                      

Oskar redeemed :

*   35% of outstanding notes at a price of €1,075 per €1,000 principal
    amount on 7 July 2005 using the proceeds of an equity issue from Oskar 
    Holdings N.V.; and

*   65% of outstanding notes at a price of €1,182.70 per €1,000 principal
    amount on 8 July 2005 using intra-group funding.

Following settlement of these two redemption provisions, no Oskar Notes will
remain outstanding.

On 30 June 2005, Oskar also repaid the entire principal amount outstanding on
the CSK 6,606,000,000 and €40,000,000 Credit Facility dated 6 October 2004
between Oskar, J.P. Morgan Limited and other financing banks, Oskar Holdings
N.V. and Oskar Finance B.V..

                                    MOBIFON                                     

The tender offer by Mobifon for its 222,750,000 12.5% Notes due 2010 (the
'Notes') expired on 6 July 2005.

MobiFon has accepted for cancellation Notes in the following principal amounts:

--------------------------------------------------------------------------------
Description     Description     Principal       Percentage of   Principal amount
                                Amount of Notes principal       of Bonds        
                                accepted for    amount of Notes outstanding     
                                cancellation    accepted for    (after          
                                                cancellation    cancellation of 
                                                                Bonds accepted  
                                                                by MobiFon)     
--------------------------------------------------------------------------------
12.5% Notes     CUSIP:          $16,170,000     7.26%           $206,580,000  
due 2010        607054AB9                                                       
                ISIN:                                                           
                US607054AB95                                                    
--------------------------------------------------------------------------------


For further information:

Vodafone Group Plc
Simon Lewis, Group Corporate Affairs Director
Tel: [phone]

Investor Relations
Charles Butterworth
Darren Jones
Sarah Moriarty
Tel: [phone]

Media Relations
Bobby Leach
Ben Padovan
Tel: [phone]

 

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