GSD Goldshield Grp

RNS Number:0471Q
Goldshield Group PLC
29 August 2000


        Second US Acquisition For Goldshield plc
                            
    Group Acquires Women's Health Product Range Plus
                  Distributor Database


Goldshield   Group  plc  ("Goldshield")   announces   the
acquisition of Achievers Unlimited Inc. based in  Florida
USA  ("Achievers Unlimited") for a deferred,  performance
related   maximum  sum  of  US$9.3  million.    Achievers
Unlimited  is an established business selling nutritional
products  for  slimming  and women's  health  across  the
United States.

The  acquisition, being carried out through  Goldshield's
US  subsidiary,  Goldshield USA, Inc., involves  a  small
initial  cash  payment  of up  to  US$  800,000  for  the
inventory held on the 1 September 2000.   Goldshield  has
agreed  to  purchase  the remaining assets  of  Achievers
Unlimited,  including its distributor  database  of  over
30,000  names, for a maximum sum of $9.3 million, payable
27   months  following  completion.   The  earn  out   is
performance related and based on a multiple of 7.2  times
earnings  before interest, tax and amortisation and  will
be based upon average annualised earnings over a 20 month
period  beginning 1st January 2001 and ending  30  August
2002.   As  with  the acquisition of Golden  Pride,  Inc,
announced  in  July,  Achievers  Unlimited  is  based  in
Florida.   The  close proximity of the two  companies  is
expected to enable cost efficiencies in the near term.

The  unaudited  results for Achievers Unlimited  for  the
first six months of this year show sales of approximately
US$4  million and an unaudited profit before tax and non-
recurring items of $150,000. Achievers Unlimited recorded
a  net  profit of $639,000 for the year ended 31 December
1999  and  the  value of the Company's net assets  on  31
December 1999 was $892,000.

The results of Achievers have declined over recent years,
however,  the  Directors of Goldshield believe  there  is
potential  to stem this decline and believe the  business
has potential for further growth.

Goldshield  has  agreed to retain all the  management  of
Achievers  Unlimited and has  granted them 150,000  share
options  based  on the price at close of market  on  25th
August 2000.

Ajit Patel, Chairman of Goldshield Group plc, said:

     "By the end of this year we should start to see some
     significant  efficiencies  setting  in  through  the
     close  proximity and related business areas of these
     two  acquisitions.   In the space of only six  weeks
     we  have  acquired  a  widely  spread  direct  sales
     network  through  which  to  sell  both  established
     Goldshield  brands and those recently acquired  from
     Achievers Unlimited.   Over the next year  our  main
     focus  will be on getting these two companies turned
     around  and in establishing complimentary  US  sales
     channels for our products."
     
For Further Information Please Contact:

Goldshield Group plc           Tel:  +44 (0) 20 8649 8500
Ajit Patel, Chairman
Rakesh Patel, Finance Director

Buchanan Communications        Tel:  +44 (0) 20 7466 5000
Nicola How 

Notes to editors:

Goldshield  Group plc: a profitable, British,  marketing-
led,  emerging pharmaceutical company based  in  Croydon,
Surrey,  was  founded  in 1990, to  sell  healthcare  and
pharmaceutical products internationally.   In  June  1998
Goldshield  floated  on  the London  Stock  Exchange  and
currently  has  a market capitalisation  of  around  #300
million.

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