1
[WORLD ACCESS LOGO]







          WORLD ACCESS TERMINATES TENDER OFFER FOR 13.25% SENIOR NOTES

            World Access Receives Waiver From Majority Of Noteholders

         Atlanta, Georgia - March 1, 2001 - WORLD ACCESS, INC. (NASDAQ: WAXS)
announced today that it is terminating its cash tender offer with respect to the
Company's 13.25% Senior Notes due 2008 (the "Notes"). On February 27, 2001,
World Access entered into an agreement with the holders of a majority in
aggregate principal amount of the Notes (the "Majority Holders") under which the
Majority Holders waived World Access' obligation to complete the tender offer.
The waiver was granted under the terms of the Indenture governing the Notes and
is effective until the date that a consent agreement providing for the complete
and irrevocable termination of World Access' obligations regarding the tender
offer is signed with the Majority Holders, the date, not earlier than March 15,
2001, a majority of the Majority Holders notifies the Company in writing that
the waiver is withdrawn, or March 31, 2001, whichever occurs first.

         If World Access and the Majority Holders enter into a consent
agreement, World Access anticipates making a new tender offer for a reduced
aggregate principal amount of Notes, subject to the terms and contingencies
contained in the consent agreement. As previously announced in the Company's
press release dated February 15, 2001, the Company expects that the agreement
will allow the Company to retire approximately $70.6 million aggregate principal
amount of the Notes, rather than the approximately $161.4 million aggregate
principal amount which was to be retired pursuant to the Company's
previously-announced tender offer. The agreement would also modify certain
covenants in the existing indenture governing the Notes, which would grant the
Company greater flexibility in future financing activities. In exchange for the
foregoing, World Access would pay the noteholders a $10 million consent fee and
issue an aggregate of 32 million shares of common stock to the noteholders. The
Company would also issue 16 million common shares (or warrants to purchase 16
million common shares, exercisable at a nominal price), which would be forfeited
under certain circumstances. Finally, the Notes would be secured, but would be
subordinate to the Company's senior lenders or any future senior lenders.

         If the waiver is withdrawn or expires before the parties enter into a
consent agreement, World Access must launch a new tender offer on terms
substantially similar to the original tender offer.


   2

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
approximately 200 carrier customers, NETnet, with retail sales operations in 9
European countries, and WorldxChange, with over 750,000 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 JANUARY 10, 2001,
    ALL OF WHICH ARE INCORPORATED BY REFERENCE INTO THIS PRESS RELEASE.


WORLD ACCESS CONTACT:      MICHELE WOLF
(404-231-2025)             V.P. OF INVESTOR RELATIONS
http://www.waxs.com