1) Women are exempt from the obligation to recite the Shema, as this is a positive commandment which is dependent on time. It is, however, correct for them to recite it, to accept upon themselves the yoke of the kingdom of heaven. They should at least recite the first verse and Baruch shem. (Shulchan Aruch and Mishne Berurah 65).
2) Women are obligated to mention the exodus from Egypt, as this is not dependent on time, as it is an obligation all day and all night. (ibid)