World Access Files Agreement With Noteholders

Apr 11, 2001, 01:00 ET from World Access, Inc.

    ATLANTA, April 11 /PRNewswire/ -- World Access, Inc. (Nasdaq: WAXS)
 announced today that it has filed the Stipulation and Consent Order (the
 "Order"), executed last week by the Company and its noteholders, with the
 United States Bankruptcy Court for the District of Delaware to stay the
 bankruptcy case against World Access commenced on April 4, 2001 by three
 holders of World Access' 13.25% Senior Notes due 2008.  A copy of the Order
 has been filed on Form 8-K with the Securities and Exchange Commission.
 
     About World Access
     World Access is focused on being a leading provider of bundled voice, data
 and Internet services to small- to medium-sized business customers located
 throughout Europe.  In order to accelerate its progress toward a leadership
 position in Europe, World Access is acting as a consolidator for the highly
 fragmented retail telecom services market, with the objective of amassing a
 substantial and fully integrated business customer base.  To date, the Company
 has acquired several strategic assets, including Facilicom International,
 which operates a Pan-European long distance network and carries traffic for
 carrier customers, NETnet, with retail sales operations in 9 European
 countries, and WorldxChange, with retail accounts in the US and Europe.  World
 Access, branding as NETnet, offers services throughout Europe, including long
 distance, internet access and mobile services.  The Company provides end-to-
 end international communication services over an advanced asynchronous
 transfer mode internal network that includes gateway and tandem switches, an
 extensive fiber network encompassing tens of millions of circuit miles and
 satellite facilities.  For additional information regarding World Access,
 please refer to the Company's website at www.waxs.com .
 
     This press release may contain financial projections or other forward-
 looking statements made pursuant to the safe harbor provisions of the
 Securities Reform Act of 1995.  Such statements involve risks and
 uncertainties which may cause actual results to differ materially.  These
 risks include:  inability to obtain adequate financing or financing on terms
 acceptable or favorable to the Company; inability to restructure existing debt
 obligations; potential inability to identify, complete and integrate
 acquisitions; difficulties in expanding into new business activities; delays
 in new service offerings; the potential termination of certain service
 agreements or the inability to enter into additional service agreements; and
 other risks described in the Company's SEC filings, including the Company's
 Annual Report on Form 10-K for the year ended December 31, 1999, as amended,
 the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31,
 2000 and June 30, 2000, as amended, the Company's Quarterly Report on Form 10-
 Q for the quarter ended September 30, 2000, and the Company's Registration
 Statements on Forms S-3  (No. 333-79097) and S-4 (No. 333-37750 and
 333-44864), and the Company's Report on Form 8-K dated February 21, 2001, all
 of which risks are incorporated by reference into this press release.
 
     CONTACT:  Investor Relations of World Access, Inc, 404-231-2025
 
 

SOURCE World Access, Inc.
    ATLANTA, April 11 /PRNewswire/ -- World Access, Inc. (Nasdaq: WAXS)
 announced today that it has filed the Stipulation and Consent Order (the
 "Order"), executed last week by the Company and its noteholders, with the
 United States Bankruptcy Court for the District of Delaware to stay the
 bankruptcy case against World Access commenced on April 4, 2001 by three
 holders of World Access' 13.25% Senior Notes due 2008.  A copy of the Order
 has been filed on Form 8-K with the Securities and Exchange Commission.
 
     About World Access
     World Access is focused on being a leading provider of bundled voice, data
 and Internet services to small- to medium-sized business customers located
 throughout Europe.  In order to accelerate its progress toward a leadership
 position in Europe, World Access is acting as a consolidator for the highly
 fragmented retail telecom services market, with the objective of amassing a
 substantial and fully integrated business customer base.  To date, the Company
 has acquired several strategic assets, including Facilicom International,
 which operates a Pan-European long distance network and carries traffic for
 carrier customers, NETnet, with retail sales operations in 9 European
 countries, and WorldxChange, with retail accounts in the US and Europe.  World
 Access, branding as NETnet, offers services throughout Europe, including long
 distance, internet access and mobile services.  The Company provides end-to-
 end international communication services over an advanced asynchronous
 transfer mode internal network that includes gateway and tandem switches, an
 extensive fiber network encompassing tens of millions of circuit miles and
 satellite facilities.  For additional information regarding World Access,
 please refer to the Company's website at www.waxs.com .
 
     This press release may contain financial projections or other forward-
 looking statements made pursuant to the safe harbor provisions of the
 Securities Reform Act of 1995.  Such statements involve risks and
 uncertainties which may cause actual results to differ materially.  These
 risks include:  inability to obtain adequate financing or financing on terms
 acceptable or favorable to the Company; inability to restructure existing debt
 obligations; potential inability to identify, complete and integrate
 acquisitions; difficulties in expanding into new business activities; delays
 in new service offerings; the potential termination of certain service
 agreements or the inability to enter into additional service agreements; and
 other risks described in the Company's SEC filings, including the Company's
 Annual Report on Form 10-K for the year ended December 31, 1999, as amended,
 the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31,
 2000 and June 30, 2000, as amended, the Company's Quarterly Report on Form 10-
 Q for the quarter ended September 30, 2000, and the Company's Registration
 Statements on Forms S-3  (No. 333-79097) and S-4 (No. 333-37750 and
 333-44864), and the Company's Report on Form 8-K dated February 21, 2001, all
 of which risks are incorporated by reference into this press release.
 
     CONTACT:  Investor Relations of World Access, Inc, 404-231-2025
 
 SOURCE  World Access, Inc.

RELATED LINKS

http://www.waxs.com