Girovend Cashless - Re Operations in N.Germany

RNS Number:6828C
Girovend Cashless Systems PLC
16 December 1999

                      GIROVEND CASHLESS SYSTEMS PLC

                     
         GIROVEND COMPLETES THE RESTRUCTURING OF ITS OPERATIONS
                          IN NORTHERN GERMANY

The Board of GiroVend Cashless Systems PLC is pleased to announce that it has
reached agreement with DBS Projektsteuerung GmbH, Hanover ("DBS") for the
establishment of a new exclusive GiroVend distributorship for the Hanover,
Hamburg and Bremen areas of northern Germany.

Under the terms of the agreement, concluded in Frankfurt yesterday and effective
from 1 January 2000, DBS will purchase the fixed assets and stock of GiroVend
Cashless Systems Deutschland  the Group's Germany subsidiary, for an estimated
consideration of DM 0,4 million (#130,000) cash and will assume the employment
contracts of substantially all of the subsidiary's existing employees.

The transaction completes the restructuring of GiroVend's operations in 
northern Germany and will eliminate future annual operating costs estimated at
DM 1.4 million (#460,000). There is not expected to be a significant impact on
the Group's results for the current financial year.

Enquiries:       Paul McGrane    Tel:  01628 539000
                 Robin Fieth     Fax:  01628 539001

About GiroVend:

GiroVend Cashless Systems is Europe's 1 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
system  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.

END

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