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   Gold/Mining/EnergyCSI Credit Systems CSU.VSE


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To: richieg who wrote (85)6/17/1999 1:00:00 AM
From: ED BAARTMAN
   of 90
 
A very interesting post. Why don't you think the Royal Bank will get control at $1.30?

Ed B.

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To: ED BAARTMAN who wrote (86)6/17/1999 10:04:00 AM
From: keith schaefer
   of 90
 
Say goodbye to CSI, Canaccord accepts $1.30
Thursday, June 17, 1999

Canaccord makes surprise
endorsement of CSI deal

John Schreiner
Financial Post

VANCOUVER - In a surprising turn of events, Canaccord Capital
Corp. yesterday decided to endorse Royal Bank of Canada's
$1.30-a-share takeover offer for CSI Credit Systems International
Inc. of Burnaby, B.C.

"We think it's a fair offer, so we're going to recommend tendering to
the offer," Peter Brown, Canaccord chairman, said after getting a
report from a team of Canaccord analysts who visited CSI earlier
this week.

With Royal Bank seeking a minimum of 75% of the 14 million
shares in the offer mailed yesterday, Canaccord clients could
frustrate the takeover because they hold about a third of the shares.

John Pryde, a Canaccord broker whose clients account for most of
those shares, confirmed some of his clients are disappointed but
said he will recommend they take the bank's offer.

Christopher Harrop, chairman of Northern Securities Inc. in
Toronto, and Steve Ottridge, a Vancouver broker with Nesbitt
Burns Inc. -- each believed to represent clients holding close to one
million shares -- also said their clients are not happy with the offer.
"But I can't fight the Royal Bank and Peter Brown," Mr. Harrop
said.

CSI is a small firm that has developed and is marketing leading edge
software for retailers using customer loyalty cards.

CSI's directors have endorsed the takeover and said in their circular
they will not solicit other takeover or merger proposals. They have
left the door open to unsolicited proposals but will have to pay the
Royal Bank a $400,000 fee if they back another bid. There are no
known other bidders.

The market clearly had expected a competing bid would emerge.
Since the offer for CSI was announced on June 4, the
Vancouver-listed shares have traded actively and often in large
blocks. On Tuesday, when 511,500 shares traded, several trades
were done at $1.31 and other blocks were offered briefly at $1.50.
Yesterday, 84,400 shares changed hands. They closed at $1.28, off
1¢.

Formed in 1992, CSI appears poised to become profitable after
several years of losses because it has won software contracts with
such major retailers as Nike Canada Inc.

The directors' circular said CSI accepted Royal's offer, which is at a
modest premium to where the shares were trading, because of the
commercial risks faced by CSI "without a strategic partner, the
increase in the level of competition in the U.S. market and the need
for capital that would be required to achieve CSI's plans of
expansion into the United States."

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To: ED BAARTMAN who wrote (86)6/17/1999 2:32:00 PM
From: richieg
   of 90
 
Canaccord and a handful of others control (or their clients do) too many shares for the bank to grasp 75% of the total shares. Many of these people have said "no".

However, now with the turn of events at Canaccord I believe the(the Royal) will get control and so goes our thoughts on a real winner.

I am still curious regarding the internet possibilities but have this A.M. resigned myself to the facts of the existing offer and have sold.. taking the capital another venture ... check out DXT on VSE

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To: richieg who wrote (88)7/6/1999 1:35:00 PM
From: Stephen O
   of 90
 
CSU CN: Eddie Bauer Moves To Ernex (tm) Loyalty Solution
7/6/99 0:9

99/07/06 Market News Publishing Inc. No: 000034

CSI CREDIT SYSTEMS INTERNATIONAL INC ("CSU-V;CDRFF-L")
- Eddie Bauer Moves To Ernex (tm) Loyalty Solution

Installing 201 Terminals in 38 stores across Canada--Each terminal
will offer the ERNEX Real-Time Points program-
CSI Credit Systems International Inc. ("CSI") announces that they will
launch their ERNEX real-time electronic marketing program at 38 Eddie Bauer
stores across Canada this summer.
Eddie Bauer, one of Canada's premier clothing retailers has chosen CSI
to operate their loyalty program - the Eddie Bauer Rewards program. CSI
will replace the existing static point collection system that requires the
mailing of gift certificates to complete the customer reward loop. In its
place, Eddie Bauer will use CSI's ERNEX Real-Time points program. This
system will save Eddie Bauer the expense associated with direct mail as
fulfilment is done at the cash register, in real time.
Two hundred and one (201) GT-100 terminals will be installed in all 38
Eddie Bauer stores across Canada. All GT-100 terminals will support
marketing transactions to the ERNEX host and debit card transactions to the
Bank of Nova Scotia. ERNEX will track cardholder point levels and
automatically issue customer specific messages and reward certificates when
customers reach pre-assigned point levels.
"ERNEX offers Eddie Bauer a cost-effective and simple means to capture
important purchase information and to reward our Eddie Bauer Reward Club
members immediately, and at the point of sale," says Bill Michel, SVP,
Marketing at Eddie Bauer. "In addition, CSI and its ERNEX electronic
marketing programs have proven to be extremely flexible allowing us to be
able to create our program the way we want it."
"CSI has again proven that the real-time capability of ERNEX is the
right solution in the fast paced retail market." stated James Christensen,
President & CEO of CSI. "Loyalty marketing means recognizing and rewarding
your best customers immediately - not four weeks later. With ERNEX, Eddie
Bauer will now know when their best customers are standing in front of
them."
CSI Credit Systems International Inc. is a transaction information
company specializing in business-to-customer transactions. CSI offers
retail businesses the opportunity to market products and services on a
customer specific basis through a comprehensive and fully integrated
network of customer information gathering software and hardware.
CSI Credit Systems International Inc. will shortly change its name to
ERNEX Marketing Technologies Inc.

TEL: (604) 415-1517 J. Caren Holtby, Corporate Communications
EMAIL: caren.holtby@ernexinc.com
INET : www.ernexinc.com
____________

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To: richieg who wrote (88)10/7/1999 6:50:00 PM
From: Stephen O
   of 90
 
CSI Cred Sys: Delisting from Trading on the VSE
10/7/99 14:16

99/10/07 Market News Publishing Inc. No: 000259

CSI CREDIT SYSTEMS INTERNATIONAL INC ("CSU-V;CDRFF-L")
- Delisting from Trading on the VSE

Michael Lukas, Vice-President and Director of CSI Credit Systems
International Inc. ("CSI") announces that CSI has applied to the VSE to
delist its shares from trading on the VSE. The reason for the delisting is
because CSI's shares are no longer held by a sufficient number of
shareholders to meet the minimum listing requirements of the VSE, which
include the requirement to have a minimum of 100 public shareholders
(excluding directors, officers and persons holding not less than 10% of
CSI's securities) holding at least 100 shares. As a result of the
successful completion of the takeover bid, there are now a total of only 46
shareholders who hold at least 100 shares.
CSI's delisting of its securities will be effective approximately 10
days after the VSE issues a notice approving the delisting of CSI's
securities.
Notwithstanding delisting from the VSE, CSI will continue to be a
reporting issuer in accordance with the B.C. Securities Act. As such, it
will continue to meet its obligations under that Act.

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