Transco Resources Corp.
TSX VENTURE : TRN

September 21, 2005 09:00 ET

Transco Resources Corp.- Corporate Update

CALGARY, ALBERTA--(CCNMatthews - Sept. 21, 2005) - Transco Resources Corp. ("Transco") (TSX VENTURE:TRN) has signed an engagement letter with Research Capital Corporation to raise up to $8,000,000 through the issuance of up to 8,000,000 common shares of Transco The financing proceeds are expected to be used in conjunction with a proposed transaction which Transco is currently negotiating. Transco intends to price the deemed price per share for the potential transaction equivalent to the private placement price.

Transco also announces that it has ceased negotiations with regard to obtaining the coal mining license in Africa and that Ian Neilson has resigned as an officer of Transco.

A more detailed press release will be issued by Transco updating the status of the potential transaction when information becomes available.

The Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.

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