1 PROXY FOR THE SPECIAL MEETING OF STOCKHOLDERS TO BE HELD ON NOVEMBER 30, 1998 THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF TELCO SYSTEMS, INC. The Board recommends a vote FOR the proposal to approve the Agreement and Plan of Merger and Reorganization relating to the merger of Telco Systems, Inc. with and into Tail Acquisition Corporation, a wholly owned subsidiary of World Access, Inc., with Telco Systems, Inc. thereupon becoming a wholly owned subsidiary of World Access, Inc. FOR [ ] AGAINST [ ] ABSTAIN [ ] The undersigned appoints William B. Smith and William J. Stuart, and each of them, with full power of substitution, the proxies and attorneys of the undersigned, to vote as specified hereon at the Special Meeting of Stockholders (the "Special Meeting") of Telco Systems, Inc. (the "Company") to be held on November 30, 1998 at 10:00 a.m. local time, and at any adjournments or postponements thereof, with all powers (other than the power to revoke the proxy or vote the proxy in a manner not authorized by the executed form of proxy) that the undersigned would have if personally present at the Special Meeting, to act in their discretion upon any other matter or matters that may properly be brought before the Special Meeting and to appear and vote all the shares of Common Stock of the Company that the undersigned may be entitled to vote. The undersigned hereby acknowledges receipt of the accompanying Joint Proxy Statement/Prospectus, and hereby revokes any proxy or proxies heretofore given by the undersigned relating to the Special Meeting. UNLESS OTHERWISE MARKED, THIS PROXY WILL BE VOTED AS IF MARKED FOR THE PROPOSAL ABOVE. Signature ------------------------------- Signature if jointly held ------------------------------- Dated: ------------------------------, 1998 PLEASE DATE AND SIGN AS NAME APPEARS HEREON. WHEN SIGNING AS EXECUTOR, ADMINISTRATOR, TRUSTEE, GUARDIAN OR ATTORNEY, PLEASE GIVE FULL TITLE AS SUCH. IF A CORPORATION, PLEASE SIGN IN FULL CORPORATE NAME BY PRESIDENT OR OTHER AUTHORIZED CORPORATE OFFICER. IF A PARTNERSHIP, PLEASE SIGN IN PARTNERSHIP NAME BY AUTHORIZED PERSON. JOINT OWNERS SHOULD EACH SIGN.