ABSTRACf. Recent investigations of excitation and ionisation in collisions of fast highly-charged projectiles with H2 and He targets have shown that effects due to projectile-electron -targetelectron interactions can be clearly identified. The interacting electrons, traditionally assigned only a passive screening role, are now seen to acquire a new dynamic role, contributing a significant part of the excitation cross section, measuring up to 60%, as in the case of K-shell projectile ionisation at collision energies of a few Me V lu. Experimental signatures for these dynamic, twocentre e-e interactions can be found in the observation of excitation thresholds, resonances and electron exchange processes, traditionally associated with excitation of ions by free electrons.Improved applications of the Born and Impulse Approximations have been successful in accounting for the new data. A brief account of these investigations is presented.