AirTouch Announces Record Date for Second Quarter Dividends On Convertible Preferred Stock

Business Wire, June 15, 1999

SAN FRANCISCO--(BUSINESS WIRE)--June 15, 1999--

AirTouch Communications (NYSE:ATI) Board of Directors has declared June 30, 1999, as the record date for the second quarter dividends on its 6.00% Class B Mandatorily Convertible Preferred Stock, Series 1996 and its 4.25% Class C Convertible Preferred Stock, Series 1996.

The dividend on the 6.00% Class B Preferred Stock will be $0.43500 per share, and the dividend on the 4.25% Class C Preferred Stock will be $0.53125 per share. The payment date for both dividends is August 16, 1999.

On January 15, 1999, AirTouch and Vodafone Group Plc announced a definitive agreement to merge. If the merger of AirTouch Communications and Vodafone Group Plc is consummated prior to June 30, 1999, then the record date for the Class B Preferred Stock will be inapplicable and dividends will be paid only with respect to the period from April 1, 1999 until the consummation of such merger. A notice regarding certain potential tax consequences of the merger to holders of the Class C Preferred Stock was sent to holders on June 11, 1999 and has been filed with the SEC on a Form 8-K.

AirTouch Communications is the largest wireless company in the world based on the 44 million total customers served by its global ventures. AirTouch has 19 million proportionate customers based on its ownership share in cellular, paging, and personal communications services in the United States, Belgium, Egypt, Germany, India, Italy, Japan, Poland, Portugal, Romania, South Korea, Spain, and Sweden. AirTouch also has an interest in the Globalstar satellite system. On January 15, 1999, AirTouch and Vodafone Group Plc announced a definitive agreement to merge. If consummated, the transaction would result in the creation of a global wireless company with more than 29 million proportionate customers in 23 countries. The transaction is targeted to close in June or July 1999, but not prior to June 23, 1999.

For a fax copy of this or other AirTouch press releases, please call 1-800-344-7531 or visit the AirTouch web site at www.airtouch.com.