Access Worldwide Communications (AWWC) 8-K Access Worldwide Reports Fourth Quarter

Exhibit 99.1

ACCESS WORLDWIDE REPORTS FOURTH QUARTER

AND YEAR-END FINANCIAL RESULTS

ARLINGTON, VA – April 2, 2008 – Access Worldwide Communications, Inc. (OTC Bulletin Board: AWWC), an established marketing and Business Process Outsourcing (“BPO”) services company, today reported financial results for the three and twelve months ended December 31, 2007.

For the Three Months Ended December 31, 2007

Our revenues decreased by $1.3 million, or 15.3%, to $7.2 million for the quarter ended December 31, 2007, compared to $8.5 million for the quarter ended December 31, 2006. Revenues for our U.S. Segment decreased $2.3 million, or 35.4% to $4.2 million for the quarter ended December 31, 2007, compared to $6.5 million for the quarter ended December 31, 2006. The decrease in revenues was primarily attributed to the loss of a profitable program, and our termination of another program due to its low performance and profitability. Revenues for our International Segment increased $1.0 million, or 50.0% to $3.0 million for the quarter ended December 31, 2006, compared to $2.0 million for the quarter ended December 31, 2006. The increase was primarily attributed to a 138.9% increase in production hours billed.

We reported a net loss from continuing operations of $1.5 million and basic and diluted loss per share of common stock from continuing operations of $0.05 for the quarter ended December 31, 2007, compared to a net loss from continuing operations of $0.3 million and basic and diluted loss per share of common stock from continuing operations of $0.02 for the quarter ended December 31, 2006.

Total weighted average diluted shares outstanding for the quarters ended December 31, 2007 and December 31, 2006 were 31,092,481 and 17,340,065, respectively.

For the Twelve Months ended December 31, 2007

Our revenues increased $5.1 million, or 18.4%, to $32.8 million for the year ended December 31, 2007, compared to $27.7 million for the year ended December 31, 2006. Revenues for the U.S. Segment increased $0.1 million, or 0.4%, to $22.6 million for 2007, compared to $22.5 million for 2006. Revenues for the International Segment increased $5.0 million, or 96.2%, to $10.2 million for 2007, compared to $5.2 million for 2006.

We reported net loss from continuing operations of $4.9 million and diluted loss per share of common stock of $0.19 for the year ended December 31, 2007, compared to net loss from continuing operations of $4.3 million and diluted loss per share of common stock from continuing operations of $0.25 for the year ended December 31, 2006.

Total weighted average common shares outstanding for year ended December 31, 2007 and December 31, 2006 were 25,482,446 and 17,340,065, respectively.

Access Worldwide is an established marketing and BPO services company that provides a variety of sales and communication services. Our spectrum of services include the full range of inbound and outbound voice services such as customer service, customer acquisition, helpdesk, and a growing list of IT and back office services among others. Headquartered in Arlington, Virginia, Access Worldwide has about 1,000 employees in offices throughout the United States and the Philippines. More information is available at www.accessww.com.

Contacts:

Access Worldwide Communications, Inc.

(703) 292-5210

Mark Wright

General Counsel, Secretary

mwright@accessww.com

This press release contains forward-looking statements. Such statements involve known or unknown risks, uncertainties and other factors that may cause the actual results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, the following: our ability to continue as a going concern if we are unable to generate cash flow and income from operations; competition from other third-party providers and those clients and prospects who may decide to do work in-house that we currently do for them; potential consumer saturation reducing the need for services; our ability and our clients ability to comply with state, federal and industry regulations; our reliance on a limited number of major clients; the reduction in services performed for or the loss of one or more major clients; our ability to develop or fund the operations of new products or service offerings; our reliance on technology; our reliance on key personnel and labor force and our ability to recruit additional personnel. For a more detailed discussion of these risks and others that could affect results, see our filings with the Securities and Exchange Commission, including the risk factors section of Access Worldwide’s Annual Report on Form 10-K for the year ended December 31, 2007 filed with the Securities and Exchange Commission. The Company assumes no duty to update any forward-looking statements.

- Tables Follow -

Access Worldwide Communications, Inc.

Condensed Consolidated Balance Sheets

December 31,

	2007			2006
ASSETS
Current Assets:
Cash and cash equivalents	$	777,354		$	1,186,980
Certificate of Deposit	$	883,553			—
Restricted cash		123,000			123,000
Accounts receivable, net of allowance for doubtful accounts of $10,983 and $99,130; respectively		4,739,401			6,956,218
Unbilled receivables		—			7,750
Other current assets, net		465,364			831,958
Total current assets		6,988,672			9,105,906
Property and equipment, net		3,815,750			3,374,575
Investments		—			1,650,000
Restricted cash		220,000			343,000
Other assets, net		516,176			386,127
Total assets	$	11,540,598		$	14,859,608
LIABILITIES AND COMMON STOCKHOLDERS EQUITY (DEFICIT)
Current Liabilities:
Current portion of indebtedness	$	2,623,062		$	438,866
Current portion of indebtedness—related parties		—			1,750,000
Accounts payable		826,965			1,315,785
Accrued expense		364,396			654,140
Accrued salaries, wages and related benefits		466,042			586,107
Customer deposits		969,296			1,210,146
Deferred revenue		240,515			669,290
Accrued interest		21,664			—
Total current liabilities		5,511,940			6,624,334
Long-term portion of indebtedness		249,845			259,256
Other long-term liabilities		423,511			530,992
Convertible Notes, net		—			4,625,490
Mandatorily redeemable preferred stock, $0.01 par value:		—			—
1,000,000 shares authorized, 40,000 shares issued and outstanding		4,000,000			4,000,000
Total liabilities		10,185,296			16,040,072
Commitments and contingencies
Common stockholders’ equity (deficit):
Common stock, $0.01 par value: voting 100,000,000 and 40,000,000 shares authorized; 31, 219,146 and 17,340,065 shares issued and outstanding, respectively		312,191			173,401
Additional paid-in capital		78,884,981			71,362,793
Accumulated deficit		(77,721,021	)		(72,716,658	)
Less: treasury stock at cost, 209,808 shares		(120,849	)		—
Total common stockholders’ equity (deficit)		1,355,302			(1,180,464	)
Total liabilities and common stockholders’ equity (deficit)	$	11,540,598		$	14,859,608

Access Worldwide Communications, Inc.

Condensed Consolidated Statements of Operations

	Unaudited For the Three Months Ending December 31,						For the Twelve Months Ending December 31,
	2007			2006			2007			2006
Revenues	$	7,223,190		$	8,466,711		$	32,831,193		$	27,711,626
Cost and expenses:
Cost of services		6,199,110			6,337,666			26,276,214			21,315,235
Selling, general and administrative expenses		1,987,202			1,958,671			6,942,956			6,557,701
Depreciation and amortization expense		400,013			248,694			1,463,493			1,037,856
Total costs and expenses		8,586,325			8,545,031			34,682,663			28,910,792
Loss from operations		(1,363,135	)		(78,320	)		(1,851,470	)		(1,199,166	)
Interest expense, net		(92,221	)		(271,482	)		(3,042,840	)		(3,051,906	)
Loss from continuing operations		(1,455,356	)		(349,802	)		(4,894,310	)		(4,251,072	)
Discontinued operations:
(Loss) from discontinued operations		610			138,790			(110,053	)		(591,631	)
Gain on disposal of segment, net of income tax expense of $0		—			(470,845	)		—			7,728,775
		610			(332,055	)		(110,053	)		7,137,144
Net (loss) income		(1,454,746	)		(681,857	)		(5,004,363	)		2,886,072
Basic and diluted (loss) income per share of common stock:
Continuing operations	$	(0.05	)	$	(0.02	)	$	(0.19	)	$	(0.25	)
Discontinued operations	$	0.00		$	(0.02	)	$	—		$	0.41
Net (loss) income	$	(0.05	)	$	(0.04	)	$	(0.20	)	$	0.17
Weighted average common shares outstanding		31,092,481			17,340,065			25,482,446			17,340,065

ACCESS WORLDWIDE COMMUNICATIONS, INC.

Consolidated Statements of Cash Flows

	For the Years Ended December 31,
	2007			2006
Cash flows from operating activities:
Net (loss) income	$	(5,004,363	)	$	2,886,072
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization		1,463,493			1,037,856
Allowance for doubtful accounts		(87,838	)		98,821
Amortization of deferred compensation		10,500			10,500
Amortization of deferred financing costs		210,743			600,239
Accretion of discount on Convertible Notes		1,009,510			691,727
Gain on sale of discontinued operations		—			(7,728,775	)
Interest expense paid in common shares		1,729,806			—
Share based compensation expense		104,032			227,119
Changes in assets and liabilities from discontinued operations		(45,135	)		734,419
Changes in operating assets and liabilities:
Accounts receivable		2,150,617			(4,253,286	)
Other assets		240,373			(449,720	)
Accounts payable, accrued expenses and other liabilities		(761,952	)		287,465
Accrued salaries, wages and related benefits		(115,538	)		301,441
Customer deposits		(48,392	)		(2	)
Deferred revenue		(428,775	)		325,603
Accrued interest and related pary expenses		21,664			(778,167	)
Net cash provided by (used in) operating activities		448,745			(6,008,688	)
Cash flows from investing activities:
Additions to property and equipment, net		(1,455,174	)		(564,988	)
Write offs of property and equipment from discontinued operations, net		15,351			(187,549	)
Net proceeds from sale of discontinued operations		—			9,751,470
Investments in CD and variable rate preferred		766,647			(1,650,000	)
Decrease in restricted cash		123,000			314,000
Net cash (used in) provided by investing activities		(550,176	)		7,662,933
Cash flows from financing activities:
Payments on capital leases		(519,775	)		(383,146	)
Proceeds from issuance of common stock		—			5,535
Proceeds from exercise of common stock options and warrants		20,390			—
Net borrowings under Credit Facility and Debt Agreement		2,238,487			(4,454,388	)
(Payments) Borrowings under not payable to related party		(1,750,000	)		2,000,000
Repayment of Convertible Notes		—			(115,000	)
Loan origination fees		(145,334	)		(140,000	)
Proceeds from issuance of Convertible Notes		—			1,500,000
Payments under note payable to related party		—			(602,334	)
Payments on equipment and insurance financing, net		(13,522	)		(17,122	)
Payments on capital leases from discontinued operations		(17,592	)		(16,736	)
Purchase of common stock from investor		(120,849	)		—
Net cash (used in) financing activities		(308,195	)		(2,223,191	)
Net (decrease) in cash and cash equivalents		(409,626	)		(568,946	)
Cash and cash equivalents, beginning of year		1,186,980			1,755,926
Cash and cash equivalents, end of year	$	777,354		$	1,186,980
Supplemental disclosure of cash flow information:
Cash paid during the period for:
Interest (note: $1,000,000 was paid for early termination of credit facility)	$	252,874		$	1,896,767
Non-Cash Investing and Financing Activities:
Equipment acquisitions through capital leases	$	474,651		$	24,290
Issuance of warrants on Note	$	171,750		$	158,000
Conversion of Convertible Notes with interest	$	5,635,000		$	—
Issuance of common stock to pay bonuses	$	—		$	49,147