(VOD)                                www.vodafone.co.uk/

A leading provider of mobile telecommunications
services including cellular radio wide area paging
pocket radio and added-value network services
world-wide.

Why we bought the share

One of the major leaders in mobile telecommunications.
Last year they bought Mannesmann which owned Orange,
and also recently purchased 3A Telecommunications for £6
Million.

Tuesday this week, they sold Orange for £25.1 billion
pounds to France Telecommunications.

News reports I saw a couple of months ago tipped
shares to reach £6 by the end of the year, (current price approx
£3.).

During May, share price fell quite heavily, but end of
May the price had recovered.

Downside to this is that it would mean another purchase
in the same sector as C&W.


And since ...

TBA

STANDING DATA

**************************************
VODAFONE AIRTOUCH/MANNESMANN **************************************

Industry: COMMUNICATIONS

THE COURTYARD
2-4 LONDON ROAD
BERKSHIRE
RG14 1JX

TEL: (44)1635 33251
FAX: (44)1635 45713

Employees: 12642
Market Cap (MIL): -9,999.99

Officers:
CEO: C C GENT
COB: NONE LORD MACLAURIN
Secretary: S R SCOTT