Press Releases

Lisbon, 28 June 2002 – The Annual General Meeting of Shareholders held today,
at Vodafone Telecel headquarters, approved the proposal of distribution of the
2001 net results, amounting to EUR 104.831 million, which includes a dividend
payment to shareholders of about 14% of these results, in the amount of EUR
0.07 per share totalling EUR 15.017 million.