Transmedia Europe closes second tranche of 6.5% Convertible Preferred Stock offer

Business Wire, July 7, 1995

LONDON, England--(BUSINESS WIRE)--July 7, 1995--Transmedia Europe Inc. (NASDAQ symbol "TMNE") announced today that a further $1,000,000 had been raised from its Convertible Preferred Stock offering, which has resulted in total gross proceeds of $2,000,000.

The Convertible Preferred Stock is convertible into 1.125 shares of Common Stock and has a dividend rate of 6.5%.

The company reported that the offering will remain open for the balance of the Convertible Preferred Stock being offered and that it was anticipated that additional sales will be effected.

Edward Guinan, president of the company, stated that the proceeds of the offering will be used for further expansion of the company's business, in particular in France where the company recently announced a joint venture with Paribas US Growth Fund.

The company is engaged in operating a discount restaurant charge business using the Transmedia card with initial operations in the United Kingdom. The company currently has more than 20,000 cardholders and 430 participating restaurants in the United Kingdom. The Transmedia card is accepted in the United States, United Kingdom and Australia and with France scheduled for the near future. Transmedia Europe's stock is traded in the U.S. on the NASDAQ system.

CONTACT: For Further Information please contact:

Edward Guinan of Transmedia Europe on

Telephone: (0171) 930 0706

or Facsimile: (0171) 839 2768

or

Howard Bronson of Howard Bronson Associates at:

212/867-6160