SOURCE: Transax International

April 20, 2006 08:47 ET

Transax International Announces Contract With Cabesp

MIAMI, FL -- (MARKET WIRE) -- April 20, 2006 -- Transax International Limited (Transax) (OTC BB: TNSX), a leading network solutions company for healthcare providers and health insurance companies, announced today it has agreed to provide real-time solutions for the self managed healthcare company Caixa Beneficente dos Funcionários do Banespa, or Cabesp, in Brazil.

Since 1968, Cabesp has been providing most of its healthcare services in the greater São Paulo, Brazil area. Cabesp has 110,000 users in the region, through a network of 13,000 medical providers including; doctors' offices, hospitals, clinics and labs. It covers consultations, exams, clinical therapy, surgery, home care services, in patient procedures, mental health and dental assistance.

With initial revenue anticipated within four months, full rollout is expected to be achieved within one year. The contract is likely to generate an additional 70,000 transactions per month, or roughly 840,000 per year. Additionally, the contract is expected to add in excess of $400,000 in annualized revenue.

Stephen Walters, President & CEO of Transax, stated, "We are pleased to add another well-recognized managed healthcare company like Cabesp to our roster. Cabesp will dramatically reduce both management and medical costs with the implementation of our solutions." Mr. Walters continued, "Consistent with our business strategy, we continue to capitalize from the growing adoption of real-time solutions within the Brazilian healthcare market."

About Transax International Limited

Transax International is an emerging network solutions provider for the healthcare sector. Utilizing its proprietary MedLink™ technology, Transax provides a service similar to a credit card processing for the health insurance and providers industries. A Transax transaction consists of: approving eligibility, authorization, auto-adjudication of the health claim and generating the claim payable files -- provided instantaneously in "real time" -- regardless of method of claim generation.

Transax's solutions have been proven to significantly decrease health insurance claim expenditures and healthcare provider costs. Based in Miami, FL, Transax maintains a major operations office in Rio de Janeiro, Brazil with approximately 35 staff. The Company has contracts in place with major health insurers in Brazil for up to 2,500,000 transactions per month and currently undertakes approximately 600,000 transactions per month, for which Transax receives approximately $0.55 cents per transaction.

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