MDY Mdy Healthcare

RNS Number:3964Z
Medisys PLC
23 February 2001

                            
                       Medisys PLC
               ("Medisys" or "the Group")

    Re: Variable Rate Convertible Bonds due 2002 (the
                        "Bonds")
                            
Medisys announces that it has today given notice  to  the
Bondholders  that  pursuant to  and  in  accordance  with
Condition  6(c)(i)  of the terms and  conditions  of  the
Bonds,  it will redeem all outstanding Bonds on 26  March
2001  at  their  principal amount together with  interest
accrued to (but excluding) the Redemption Date.

In  accordance  with  Condition 5(a)  of  the  terms  and
conditions of the Bonds, Bondholders will remain entitled
to  exercise  their conversion rights and  convert  their
Bonds  into  Medisys ordinary shares, at  the  conversion
price  of 18.5p per ordinary share at any time up to  the
close of business on 19 March 2001.

Bondholders  wishing to exercise their right  to  convert
should  obtain  and complete a notice of conversion  from
the offices of a Paying and Conversion Agent, as detailed
below.

          PRINCIPAL PAYING AND CONVERSION AGENT
                            
                  Bankers Trust Company
                    Winchester House
                1 Great Winchester Street
                     London EC2N 2DB
                            
            OTHER PAYING AND CONVERSION AGENT
                            
              Bankers Trust Luxembourg S.A.
                       PO Box 807
               14 Boulevard F.D. Roosevelt
                         L-2450

At  close  of  business on 22 February 2001,  there  were
2,059  Bonds outstanding.  Full conversion of these Bonds
would  result  in  the  issue of 11,128,895  new  Medisys
ordinary shares.

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