A one-dimensional stochastic exclusion process with two species of particles, + and -, is studied where density of each species can fluctuate but the total particle density is conserved. From the exact stationary state weights we show that, in the limiting case where density of negative particles vanishes, the system undergoes a phase separation transition where a macroscopic domain of vacancies form in front of a single surviving negative particle. We also show that the phase-separated state is associated with a diverging correlation length for any density and that the critical exponents characterizing the behavior in this region are different from those at the transition line. The static and the dynamical critical exponents are obtained from the exact solution and numerical simulations, respectively.
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