[en] A wave dispersion relation has been derived from a one-dimensional, two-pressure, two-component, two-fluid model. A modified Rayleigh's equation was used as the closure law which related the phasic pressures. Comparison of analytical results with experimental data indicated that the virtual-mass effect is very important in the determination of the speed of sound in a two-phase mixture. The propagation velocity of a pressure pulse was related to the group velocity which was evaluated from the wave dispersion relation for a propagating wave. The effect of the differential terms on critical two-phase flow due to virtual-mass acceleration was assessed by comparison of model predictions with critical two-phase flow data. The relationship between critical flow and wave propagation was also established. It has been demonstrated that both critical flow and wave propagation data can be used to deduce the functional form of the virtual-volume coefficient, C_VM(α), although neither were able to provide data on the virtual-mass acceleration parameter,lambda(α)