Transax International Reports Record Second Quarter Results

Miami, Fl. --(www.USEquityNews.com)-- 08/20/2008 - Transax International Limited (Transax) (OTCBB: TNSX), a network solutions company for healthcare providers and health insurance companies, today reported record financial results for the first half of 2008 and second quarter ended June 30, 2008.



For the quarter ending June 30, 2008, Transax generated net revenues of $1,730,992 compared to $1,337,676 in net revenues during second quarter of 2007, a 29% increase. The increase in revenue was reflected by continued growth in real-time transactions and rollout of previously announced contracts and currency exchange differences. Transaction volume was 2.2 million for the second quarter of 2008.

Loss from operations in the second quarter of 2008 was $101,561 compared with a $46,639 loss during the same period in 2007. Net loss for the second quarter of 2007 was $926,945, compared with a net loss in the second quarter of 2007 of $217,703. The increase in net loss is principally due to an increase in non-cash expenses related to derivative liabilities.

For the quarter ending June 30, 2008, the Company incurred $1,832,553 in operating expenses compared to $1,384,315 during the same period in 2008. The increase in expenses was attributed to additional one time costs for installation of new software in the Company's terminals in Brazil in compliance with a newly introduced government standard for electronic healthcare transactions.

For the six months ended June 30, 2008 revenues increased by 27% to $3,211,956 from $2,523,902 during the same period in 2007. The Company recorded operational income of $23,818 for the six months ending June 30, 2008 compared to operational income of a $67,261 during the same period in 2007. Net loss for the first six months of 2008 was $161,584 compared to net income of $212,302 for the same period in 2007.

At the end of the second quarter 2008 the Company had over 6,750 solutions operational in Brazil including 3,063 Point of Sales (POS) Solutions and 868 operational web solutions. The company realigned its installed base of solutions updating Interactive Voice Response solutions for its higher priced proprietary Web based products.

About Transax International Limited

Transax International is an emerging network solutions provider for the healthcare sector. Utilizing its proprietary MedLink(TM) technology, Transax provides a service similar to 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 and currently undertakes approximately 750,000 transactions per month, for which Transax receives on average approximately $0.70 cents per transaction.

SAFE HARBOR STATEMENT: "THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH RESPECT TO ACHIEVING CORPORATE OBJECTIVES, DEVELOPING ADDITIONAL PROJECT INTERESTS, THE COMPANY'S ANALYSIS OF OPPORTUNITIES IN THE ACQUISITION AND DEVELOPMENT OF VARIOUS PROJECT INTERESTS AND CERTAIN OTHER MATTERS. THESE STATEMENTS ARE MADE UNDER THE 'SAFE HARBOR' PROVISIONS OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN."

Contact Information:
David Sasso
Vice President
Investor Relations & Corporate Communications
Tel: 305.629.3090
Email Contact
http://www.transax.com

U.S. Equity News
Tel: (626) 961-8039
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