Transax International Limited Secures $5 Million In Financing

IRVINE, Calif., Nov. 3 /PRNewswire-FirstCall/ -- Transax International Limited ("Transax") (BULLETIN BOARD: TNSX) announced today that it has entered into US$5 million financial arrangement with Cornell Capital Partners, L.P. Under the terms of the funding arrangement with Cornell Capital, Transax has secured a US$250,000 bridge loan and Standby Equity facility for a further US$5 million. The Standby Equity Distribution Agreement commits Cornell Capital to provide up to US$5 million of funding to Transax over a 24-month period. There are no minimum draw downs in the agreement.

Stephen Walters, President & CEO of Transax, said: "This agreement with Cornell Capital will allow the Company to raise equity capital at appropriate times in accordance with the Company's expansion plans. Transax is receiving a number of inquiries for its product from many parts of the world and this financial arrangement will allow us to proactively capitalize on these opportunities as well as further develop our current business in Latin America, review acquisition opportunities and undertake our planned expansion to the USA market during 2005."

The financing arrangement with Cornell Capital does not restrict Transax from securing other sources of debt and equity financing.

Craig Engler, Vice President at Cornell Capital Partners, L.P., stated: "We are impressed with the substantial growth Transax has achieved in 2004 and look forward to working with the Company's management team. We are pleased to be able to assist the Company with ongoing financial needs as Transax expands into other markets. We look forward to a long-term relationship with Transax."

About Cornell Capital Partners, L.P.

Based in Jersey City, NJ, Cornell Capital Partners, L.P. began operations in January 2001 to address the financing needs of publicly traded companies. Since then, Cornell Capital has successfully financed numerous public companies.

About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the "real-time" automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease health insurance claim expenditure and provides additional operational efficiencies for the health insurer. Transax "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in "real-time". MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in "real time" regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 300,000 transactions per

month, has contracts in place for in excess of 2,500,000 transactions per month, and other potential contracts in various stages of negotiation.

Web Site : http://www.transax.com/ Email : info@transax.com Investor Relations Inquiries Mirador Consulting Inc, Boca Raton, Florida Contact Casey Burt, Tel : 877/Mirador or 877-647-2367 Email: cb@miradorconsulting.com

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."

Transax International Limited

CONTACT: Investors, Casey Burt of Mirador Consulting Inc,+1-877-647-2367, cb@miradorconsulting.com, for Transax International Limited

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