July 26, 2005

Vodafone Group said that its nearly 45-percent interest in U.S.-based operator Verizon Wireless yielded 850,000 proportionate subscriber additions during the quarter, and that Verizon Wireless posted an industry-record 1.9 million net customer additions during the quarter.

Verizon Wireless had previously posted several quarters with around 1.7 million net customer additions and posted an industry-leading 6.3 million net customer additions last year.

The results, which are expected to be released by Verizon Wireless tomorrow, would be well above analysts' estimates of between 1.5 million and 1.7 million net additions and substantially more than the 1.1 million customers larger rival Cingular Wireless L.L.C. said it added during the second quarter.

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Verizon Wireless added 1.5 million subscribers during the second quarter of 2004 and 1.3 million customers in 2003.

Vodafone said it added 4.1 million proportionate mobile subscribers during its fiscal quarter ended June 30 and acquired another 6 million customers through the closing of previously announced acquisitions, ending the period with 165 million subscribers worldwide.

Vodafone noted that the internally driven customer additions were a 35-percent increase compared with 2004 results, and it counted more than 3.3 million customers using third-generation devices at the end of the quarter.

"We have seen strong performance across Europe and in the U.S., and we continue to focus on improving our business in Japan," said Vodafone Chief Executive Arun Sarin. "3G is building momentum with over 1 million more registered devices in the quarter."

Source: RCR News