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Monday 01 March, 2010


Acquisition Acquisition of Vellum Consultants

26 February 2010

                                  CHOICEXS PLC



ChoiceXS  announces that its 100% subsidiary ICTV has completed the  acquisition
of  40%  of  the  issued share capital of Vellum Consultants  Ltd  (Vellum)  for
€300,000.  The Directors believe that this acquisition will further enhance  the
previous cooperation of the two companies and expects to strengthen its services
in  the  IT industry and its distribution channels. The acquisition is  part  of
ChoiceXS' expansion plan following the recent admission to PLUS markets (symbol:
CXSP). The consideration for Vellum was paid in cash by ICTV.

Vellum  was  established in 1995, in Athens, Greece, by Mr.  Yani  Rovis  as  an
independent  management  consulting  firm  specialized  in  Information  Systems
implementations. Mr. Rovis is an Electrical Engineer (ETH Zurich) and  holds  an
MBA  (IMD).  Previously, he has worked as CEO and General Manager  in  the  FMCG
sector  and  as  a  partner at Andersen Consulting specializing in  implementing
Management Processes and Management Information Systems. Vellum has shown  rapid
growth  during  the  last year. In 2008, it had total sales  of  €1,180,000  and
multiplied its pretax and after tax profits substantially. Projections for  2009
are  for revenues exceeding €1,2M and pretax profits over €40,000. Its customers
are  mainly  major  Greek and multinational private sector companies  that  need
Information Systems implementation and operation services.

The  Directors  of  the Company accept responsibility for the  content  of  this


David Sinclair, Axiom Capital Limited             +44 208 455 0011
Katerina Kalligatsi, CEO and Vice President       +30 2310 804 980                                                                                                                                                                                                  

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