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VODAFONE GROUP PLC ANNOUNCES AGREEMENT ON RECOMMENDED OFFER FOR HAWTHORN LESLIE GROUP PLC

 LONDON, March 11 /PRNewswire/ -- Vodafone Group Plc (NYSE: VOD) and Hawthorn Leslie Group PLC today announced they have reached agreement on the terms of a recommended offer to be made on behalf of Vodafone by Goldman Sachs International Limited for the whole of the issued ordinary share capital of Hawthorn Leslie.
 The offer values the whole of the ordinary share capital of Hawthorn Leslie at 2.912 million pounds sterling and each share at 1.54 pence. In addition, Vodafone has conditionally agreed to procure the redemption of the 16 million pounds Convertible Loan Stock 2007 of Hawthorn Leslie held by Svenska Handlesbanken and repay outstanding loan facilities from Svenska.
 The offer places a value on the Hawthorn Leslie Group equivalent to 31.5 million pounds taking into account the current level of the Hawthorn Leslie Group's debt and the settlement with the CP Finance funders.
 Hawthorn Leslie's subsidiary, HL Communications, is a leading cellular service provider with a subscriber base of around 49,000, the majority of which are connected to the Vodafone network.
 Commenting on the offer, Gerry Whent, chief executive of Vodafone Group Plc, said, "HL Communications is an important independent service provider for the Vodafone network. I firmly believe that it is in the best interest of the industry that the company with its distinctive brand names, including London Car Telephones, continues in business providing service to its existing subscribers and acquiring new customers."
 Andrew Alers-Hankey, Hawthorn Leslie's chairman and chief executive, said, "I am delighted we have reached agreement with Vodafone on a transaction which secures the future of HL Communications and its employees, enables the group to meet its substantial liabilities to its creditors, and provides some value for shareholders."
 -0- 3/11/93
 /CONTACT: Terry Barwick, director - corporate affairs of Vodafone, 0635-33251; Tim Brown of Tavistock Communications, 071-920-0036, for Vodafone; Andrew Alers-Hankey, chairman and chief executive of Hawthorn Leslie, 071-236-5858; or Warren Finegold of Goldman Sachs International, 071-774-4195 (all in the U.K.)/
 (VOD)


CO: Vodafone Group Plc; Hawthorn Leslie Group PLC; HL Communications ST: IN: TLS SU: OFR

GK-OS -- NY028 -- 5056 03/11/93 10:43 EST
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Date:Mar 11, 1993
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