Acquisition

RNS Number:0456N
Cardpoint PLC
02 July 2003



 Press Release                                                   2 July 2003



               Cardpoint plc acquires mobile top up division of
                      Project Telecom plc for #1.7 million

Cardpoint plc, the first UK quoted independent ATM deployer, has acquired PT
Distribution Limited (PTD), which comprises the electronic mobile top up
division of Project Telecom plc, for a total cash consideration of #1.7 million.
The division, which trades under the name of 'E Top Up', operates
approximately 2,900 mobile top up terminals in retail outlets across the UK.

In the year ended 31 December 2002, the E Top Up division of PTD had sales of
#4.4 million and an operating loss of #102,000.  The Directors anticipate that
the acquisition will be earnings enhancing in the years to 30 September 2003 and
2004.

The acquisition marks an important step in the Company's stated strategy of
broadening the Group's revenue stream whilst continuing to focus on maximising
value from secure payment terminals in retail locations. PTD has a proven,
scaleable and profitable business model and has terminals in retail outlets such
as MOTO, Costcutter, Spar and Londis.  The acquired customer portfolio has many
synergies with Cardpoint's since both businesses target retail outlets in
complementary locations and with similar demographics.  As a result the
acquisition will provide cross-selling opportunities, and also allow both
divisions of the Cardpoint Group to access new markets and customer databases.

PTD's experienced management team is staying with the company and its offices
will remain in Newark.

Mark Mills, Chief Executive of Cardpoint, said:  "We are acquiring a business
with a strong management team and a proven business model in a growing market.
We believe that electronic top-ups will play an increasing important role as it
is intended that vouchers, which currently account for a significant percentage
of the pre-paid top up market, will be replaced from mid 2004.

"Our expertise in growing, managing and exploiting value from a network of cash
machines combined with the expert management team at PTD is ideally suited to
maximising the potential return to shareholders from this acquisition."



For further information:


Cardpoint Plc

Mark Mills, Chief Executive Officer                    Tel: [phone]
[e-mail]                                 www.cardpointplc.com




Evolution Beeson Gregory
Mike Brennan / Henry Turcan                            Tel: [phone]



Media enquiries:


Bankside

Henry Harrison-Topham / Ariane Vacher                  Tel: [phone]
[e-mail]                                      www.bankside.com





Notes to editors


About Cardpoint


Cardpoint plc is an independent owner and operator of more than 1,700 ATMs
across the UK.  The Company typically charges #1.60 per cash withdrawal, with
their customers' permission, and receives transaction revenues for balance
enquiries and card rejections.

The ATMs are typically placed in convenience stores, shopping centres, motorway
service stations, hospitals and train stations, and in areas that are not
traditionally serviced by other ATM providers, thereby offering their customers
greater convenience and access to cash.

Cardpoint acquired Securicor Cash Machine Limited in June 2003 and acquired
Green Machine in October 2002.

Cardpoint is a full member of the LINK Network, the only branded shared network
of ATMs and self-service terminals in the UK, which allows 80 million
cardholders of every member financial institution to use the ATM of another LINK
member.

Cardpoint listed on the Alternative Investment Market in June 2002.  The
Company's Stock Exchange EPIC is CASH.L



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            The company news service from the London Stock Exchange
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