Statement re Possible Offers

Vodafone Group Plc
13 January 2003

13 January 2003



For Immediate Release - Not for release or distribution in the United States of
America, Canada or Japan



    VODAFONE IN DISCUSSIONS TO ACQUIRE OUTSTANDING MINORITIES IN ITS QUOTED
              SUBSIDIARIES IN SWEDEN, THE NETHERLANDS AND PORTUGAL



Vodafone Group Plc ('Vodafone') today announces that it has entered into
discussions with the Boards of Europolitan Vodafone AB (publ) ('Europolitan'),
Vodafone Libertel N.V. ('Libertel') and Vodafone Telecel-Comunicacoes Pessoais,
S.A. ('Telecel'), its quoted subsidiaries in Sweden, the Netherlands and
Portugal, respectively, concerning possible tender offers by Vodafone for the
outstanding shares which it does not already own in each of these subsidiaries.

Vodafone has indicated to the relevant Boards that it expects its offers for the
outstanding minorities would be made in cash and on the following basis:

For each Europolitan share:                                             SEK45.00
For each Libertel share:                                                  €11.00
For each Telecel share:                                                    €8.50

The aggregate cost of the offers on this basis would be up to approximately €2.0
billion and would be satisfied from the Group's cash resources and existing
facilities.  Vodafone expects that these offers, if made, would be earnings
enhancing.

Vodafone has no plans to make an offer for the outstanding minority interests in
either Vodafone Panafon S.A. or Japan Telecom Holdings Company, Ltd.

The companies intend to make a further announcement as soon as practicable.

This announcement does not constitute a public offer.

                                    - ends -



For further information contact:



Vodafone Group Plc

Tim Brown, Group Corporate Affairs Director

Melissa Stimpson, Director of Group Investor Relations

Bobby Leach, Head of Group Financial Media Relations

Darren Jones, Senior Investor Relations Manager

Tel:  [phone]



Tavistock Communications

Lulu Bridges/John West

Tel:  [phone]



Notes for editors:



*     Vodafone's current shareholdings in its quoted subsidiaries are as follows:


Target                          Vodafone         Minority            Total        Vodafone        Minority
                              Shares (m)       Shares (m)       Shares (m)         Holding        Interest

Europolitan:                       306.2            103.7            409.9           74.7%           25.3%
Libertel:                          242.4             70.1            312.5           77.6%           22.4%
Telecel:                           132.0             83.0            215.0           61.4%           38.6%



*     The offer price for each Telecel share will not be more than the €8.50
expected offer price indicated in this announcement.



Any offer, if made, would not be made, directly or indirectly, in or into the
United States of America, Canada or Japan, and copies of this document and any
future related materials are not being and may not be mailed or otherwise
distributed or sent in or into the United States of America, Canada or Japan.

Any offer, if made, would furthermore not be directed to persons whose
participation in the offering requires that further offer documents are issued
or that registration or other measures are taken, other than those required
under Swedish, Dutch or Portuguese law, as relevant. No document relating to the
proposed offer, if made, may be distributed in or into any country where such
distribution or offering requires any of the aforementioned measures to be taken
or would be in conflict with any law or regulation of such a country.



This announcement has been issued by Vodafone Group Plc and is the sole
responsibility of Vodafone Group Plc and has been approved solely for the
purposes of Section 21 of the Financial Services and Markets Act 2000 by Goldman
Sachs International.

Goldman Sachs International is acting for Vodafone Group Plc and no one else in
connection with any offers and will not be responsible to any other person for
providing the protections afforded to clients of Goldman Sachs International, or
for providing advice in relation to any offers.




                      This information is provided by RNS
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