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Press Release Source: Transax International


Transax International Reports Record Third Quarter Results
Monday November 20, 5:25 pm ET


Transaction Volume and Revenues Reach Record Levels


MIAMI, FL--(MARKET WIRE)--Nov 20, 2006 -- Transax International Limited (Transax) (OTC BB:TNSX.OB - News), a network solutions company for healthcare providers and health insurance companies, today reported record financial results for the third quarter ended September 30, 2006.
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For the quarter ending September 30, 2006, Transax generated net revenues of $1,115,930 compared to $948,993 during the third quarter of 2005, a 17.6% increase. The increase in revenue was reflected by continued growth in real-time transactions and continued installation of our software and services. Transaction volume increased to 2.04 million for the third quarter of 2006, an approximate 16.5% increase from 1.75 million in the third quarter of 2005.

Loss from operations in the third quarter of 2006 was $206,809 compared with $9,671 during the same period in 2005. Net loss for the third quarter of 2006 was $623,578 or ($0.02) per share, compared with a net loss in the third quarter of 2005 of $317,780, or ($0.01) a share. The Company incurred $1,322,739 in operating expenses for the third quarter of 2006, compared to $958,664 during the same period in 2005. The increase in operating expenses was due in part to higher product support services resulting from the increase in revenue, as well as higher professional and administrative costs.

For the nine months ended September 30, 2006, revenues were $3,131,832 compared to $2,450,424, an increase of 27.8%. Operational losses for the first nine months of 2006 were $3,684,533 compared to $2,554,988. Net loss for the first nine months of 2006 was $2,617,668, or ($0.08) a share compared to $583,641, or $(0.02) a share for the same period in 2005. The increase in net loss relates to the classification of the embedded conversion feature and related warrants issued in connection with our "Series A" preferred stock debenture payable as a derivative instrument.

Stephen Walters, President & CEO of Transax, stated, "Our revenues and transaction volume continued their steady rise during the quarter and our year over year growth remains strong." Mr. Walters continued, "During the first nine months of 2006, we executed over 5.8 million transactions compared to 4.78 million in 2005, an increase of over 21%."

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 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.

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

Andrew Barwicki
Tel: [phone]



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Source: Transax International