GCS Geiger Counter Limited

RNS Number:6625E
Girovend Cashless Systems PLC
31 January 2000

                  FIRST INTERNET ACQUISITION

GiroVend Cashless Systems PLC ("GiroVend") today announces the
completion  of  its first internet acquisition  following  the
statement in mid-December that GiroVend is to focus  upon  the
emerging Business to Business e-commerce market with a  vision
of becoming a leading European B2B Internet company.

Proactive Interactive has developed an on-line methodology for
the  sale  of 3600 performance-improvement profiling, training
and  continued development for senior managers and  employees.
The  Proactive product will form a key element of  the  common
horizontal  service strands which GiroVend plans to  roll  out
across its chosen vertical trade communities.

GiroVend  is  to acquire 100% of the issued share  capital  of
Proactive  Interactive Limited together with the  intellectual
property rights to the Proactive Interactive name and  product
range for #1.085 million.  The consideration will be satisfied
by  the  issue of 825,723 new ordinary share of 2.5p  each  in
GiroVend to the vendor shareholders at an issue price of 131.4
per  share.   65,335  of the consideration  shares  have  been
placed  by  Collins Stewart Limited on behalf of the  vendors.
Application will be lodged with the London Stock Exchange  for
the  shares to be admitted to the Official List on 3  February
2000.  Mark Starmer, the founder and principal shareholder  of
Proactive  Interactive Limited has entered into a new  service
contract  with  the  Company  and  has  undertaken  to  retain
substantially all of his consideration shares for a minimum of
one  year.   The minority vendor shareholders will  retain  at
least 50% of their consideration shares for the same period.

At  acquisition, Proactive Interactive Limited had no material
net assets other than its intellectual property rights and had
not traded.

Paul McGrane, Chief Executive of GiroVend said:

"The  acquisition  of Proactive Interactive reflects  the  new
business  direction of GiroVend. Its unique product will  help
us  provide the horizontal services to the different  vertical
business groups we plan to serve. It is the first step towards
GiroVend becoming a leading European B2B Internet company."

Enquiries: Paul McGrane              Tel:   01628 539000
           Robin Fieth

           Steve Liebmann
           Buchanan Communications   Tel:   020 7466 5000

About GiroVend:

GiroVend  Cashless  Systems is Europe's  leading  provider  of
money substitute solutions for in-house catering, vending  and
other  related  payment  services.  The  Group's  systems  are
designed  to eliminate the problems and costs associated  with
traditional  cash handling by replacing coins and  notes  with
electronic  purses in the form of magnetic  stripe  and  smart
cards  or tags.  GiroVend's systems are also designed to  work
with  a  wide range of other applications to deliver efficient
control  solutions for managed environments  based  on  multi-
function staff and user cards or tags.

Mondex  UK  Limited  holds a 6.28% stake in  GiroVend  and  is
represented on the GiroVend Board by its Chief Executive,  Ron
Clark.

GiroVend  announced at the end of 1999 its vision to become  a
leading  European B2B Internet company, drawing revenues  from
the  provision  of transactional services to  a  comprehensive
range of vertical markets and its intention to change its name
to Transacsys plc in the near future.

END

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