SOURCE: Transax International

August 01, 2006 08:30 ET

Transax International Launches Cabesp Contract

-Program Launched Ahead of Schedule-

MIAMI, FL -- (MARKET WIRE) -- August 1, 2006 -- Transax International Limited (Transax) (OTCBB: TNSX), a network solutions company for healthcare providers and health insurance companies, announced today that its wholly owned subsidiary, MedLink, has launched its previously announced contract with Caixa Beneficente dos Funcionários do Banespa, or Cabesp, in Brazil.

Cabesp is among Brazil's 50 largest healthcare companies. It has 110,000 users in the state of São Paulo and operates through a network of 13,000 medical providers, including doctors' offices, hospitals, clinics and labs. The Cabesp provider network covers medical consultations, exams, clinical therapy, surgery, home care services, in-patient procedures, as well as mental health and dental assistance. Cabesp, formed in 1968, provides most of its healthcare services in the state of Sao Paulo, Brazil's main economic area.

MedLink's implementation team will monitor Cabesp's providers, including the provider's physical and operational environment. Additionally, it will provide training along with help-desk support. During the launch phase, the business rules for all lives covered under Cabesp's health plans will be tested and commissioned. Cabesp's installed base will consist of approximately 896 Point-Of-Sales (POS), 904 Interactive Voice Response (IVR) and 11 PC NET solutions.

Stephen Walters, President & CEO of Transax, commented, "We are pleased to have worked together with Cabesp over the past three months to prepare for today's launch. Given our existing exposure throughout Brazil, 47% of the Cabesp provider base overlaps with our existing installed provider base and would require minimal upgrades to come online. During the first phase of our rollout, we expect to have 350 Cabesp providers connected by the end of January 2007 -- generating some 30,000 transactions per month. Within one year, we anticipate connecting 1,443 providers, generating 70,000 transactions per month." Mr. Walters continued, "From a financial perspective, we expect to record revenues immediately and this is expected to continue to increase throughout the remainder of the year and well into 2007."

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 executes approximately 700,000 transactions per month, for which Transax receives approximately $0.55 cents per transaction.

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