AGM WEBCAST DISCLAIMER

Welcome to the conference call for the presentation of Vodafone Group Plc's Key Performance Indicators for the quarter ended 31 December 2006.

Any information in this communication relating to the price at which relevant investments have been bought or sold in the past, or the yield on such investments, cannot be relied upon as a guide to the future performance of such investments.

This communication does not constitute an offering of securities or otherwise constitute an invitation to any person to underwrite, subscribe for or otherwise acquire securities in any company within the Vodafone Group.

This communication contains forward-looking statements which are subject to risks and uncertainties because they relate to future events. Some of the factors which may cause actual results to differ from these forward-looking statements can be found by referring to the information contained under the headings "Cautionary Statement" in our key performance indicators announcement for the quarter ended 31 December 2006 or the information contained under the headings "Cautionary Statements Regarding Forward-Looking Statements" and "Risk Factors" in our Annual Report for the year ended 31 March 2006. The key performance indicators announcement and our Annual Report can be found on our website (www.vodafone.com).

This communication also contains certain non-GAAP financial information. The Group's management believes these measures provide valuable additional information in understanding the performance of the Group or the Group's businesses because they provide measures used by the Group to assess performance. These measures should not be viewed as replacements for, but rather as complementary to, the comparable GAAP measures.  Details of the nearest GAAP equivalent of certain non-GAAP measures can be found in our interim results announcement for the six months ended 30 September 2006.

Any information in these presentations relating to the price at which relevant investments have been bought or sold in the past, or the yield on such investments, cannot be relied upon as a guide to the future performance of such investments.  These presentations do not constitute an offering of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities in any company within the Group.
The presentations contain forward-looking statements which are subject to risks and uncertainties because they relate to future events.  In particular, such forward-looking statements include, without limitation, statements with respect to Vodafone's expectations as to expected savings from cost reduction initiatives, expected growth in emerging markets, the development and introduction of new products and services and expected dividends.  Some of the factors which may cause actual results to differ from these forward-looking statements can be found by referring to the information under the headings "Cautionary Statement Regarding Forward-Looking Statements" and "Risk Factors" in Vodafone Group Plc's Annual Report for the year ended 31 March 2007.  The Annual Report can be found on our website (www.vodafone.com).
The presentations also contain certain non-GAAP financial information. The Group's management believes these measures provide valuable additional information in understanding the performance of the Group or the Group's businesses because they provide measures used by the Group to assess performance. Although these measures are important in the management of the business, they should not be viewed as replacements for, but rather as complementary to, the comparable GAAP measures such as turnover and reported items on the consolidated profit and loss account or the consolidated statement of cash flows.
Your access and use of this website (the "Site") is governed by the Terms and Conditions of the Site, which are accessible by clicking on the link at the foot of this page. In particular, you may not copy or use any part of the webcast for any commercial purpose.