Vodafone Group Plc 10 May 2005 10 May 2005 VODAFONE OMNITEL N.V. The Board of directors of Vodafone Omnitel N.V. (Vodafone Italy) has approved a proposal to buy back issued and outstanding shares at a value of approximately €7.9 billion (£5.4 billion). If the proposal is approved by the shareholders of Vodafone Italy, participation in the buy back will be invited on a pro rata basis in two tranches, the first in June 2005 and the second expected to occur in October 2005. After the transaction is completed, Vodafone (Vodafone Group Plc) and Verizon (Verizon Communications, Inc) will continue to hold approximately 77% and 23% indirectly through their wholly-owned subsidiaries. It is anticipated that the buy back will be funded from currently available and forecast available cash of Vodafone Italy. - ends- For further information: Vodafone Group Simon Lewis, Group Corporate Affairs Director Tel: +44 (0) 1635 673310 Investor Relations Media Relations Charles Butterworth Bobby Leach Darren Jones Ben Padovan Sarah Moriarty Tel: +44 (0) 1635 673310 Tel: +44 (0) 1635 673310 This information is provided by RNS The company news service from the London Stock Exchange