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EXHIBIT 99.1
[WORLD ACCESS LOGO] FILED BY WORLD ACCESS, INC.
PURSUANT TO RULE 425 UNDER THE SECURITIES ACT OF 1933
AND DEEMED FILED PURSUANT TO RULE 14A-12
OF THE SECURITIES EXCHANGE ACT OF 1934
SUBJECT COMPANIES: STAR TELECOMMUNICATIONS, INC. AND
COMMUNICATIONS TELESYSTEMS INTERNATIONAL
D/B/A WORLDXCHANGE COMMUNICATIONS
FORM S-4 REGISTRATION STATEMENT FILE NO. 333-37750
TELDAFAX AG
FORM S-4 REGISTRATION STATEMENT FILE NO. 333-44864
WORLD ACCESS SHAREHOLDERS APPROVE STAR,
WORLDXCHANGE AND TELDAFAX TRANSACTIONS
Atlanta, Georgia - December 14, 2000 - WORLD ACCESS, INC. (NASDAQ:
WAXS) announced today that the shareholders of World Access have approved
proposals to acquire STAR Telecommunications (NASDAQ: STRX), WorldxChange
Communications and TelDaFax, AG (NEUER MARKT: TFX). Subject to the satisfaction
of certain closing conditions, including, without limitation, STAR's shareholder
vote to be held on December 18, 2000 and STAR's sale of PT-1, STAR and
WorldxChange are expected to close next week. World Access has begun its tender
for the remaining outstanding shares of TelDaFax and expects to close its tender
mid-January.
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, and NETnet, with retail sales operations in
9 European countries. NETnet's services include long distance, internet access
and mobile services. Located strategically throughout the United States and 13
European countries, World Access 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:
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
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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), ALL OF WHICH ARE INCORPORATED BY REFERENCE INTO
THIS PRESS RELEASE.
WORLD ACCESS AND STAR HAVE FILED A JOINT PROXY
STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS CONCERNING
THE STAR MERGER AND THE WORLDXCHANGE MERGER WITH THE UNITED
STATES SEC. ADDITIONALLY, WORLD ACCESS HAS FILED A PROXY
STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS CONCERNING
THE TELDAFAX TRANSACTIONS WITH THE SEC. WE URGE INVESTORS TO
READ THE JOINT PROXY STATEMENT/PROSPECTUS AND ANY OTHER
RELEVANT DOCUMENTS FILED WITH THE SEC BECAUSE THEY CONTAIN
IMPORTANT INFORMATION.
INVESTORS WILL BE ABLE TO OBTAIN THE DOCUMENTS FREE OF CHARGE
AT THE SEC'S WEB SITE, WWW.SEC.GOV. IN ADDITION, DOCUMENTS
FILED WITH THE SEC BY WORLD ACCESS WILL BE AVAILABLE FREE OF
CHARGE BY WRITING TO INVESTOR RELATIONS, WORLD ACCESS, INC.,
945 E. PACES FERRY ROAD, SUITE 2200, ATLANTA, GA, 30326, OR
BY TELEPHONE REQUEST TO 404-231-2025. DOCUMENTS FILED BY STAR
CAN BE OBTAINED BY WRITING TO INVESTOR RELATIONS, STAR
TELECOMMUNICATIONS, SANTA BARBARA, CA, 93101, OR BY TELEPHONE
REQUEST AT 805-899-1962.
THE PARTICIPANTS, AS DEFINED IN INSTRUCTION 3 TO ITEM 4 OF
SCHEDULE 14(A) IN THE SOLICITATION OF PROXIES FROM THE WORLD
ACCESS STOCKHOLDERS FOR THE APPROVAL OF THE MERGER INCLUDE
WORLD ACCESS AND WALTER J. BURMEISTER, KIRBY J. CAMPBELL,
BRIAN CIPOLETTI, STEPHEN J. CLEARMAN, JOHN P. IMLAY, JR.,
MASSIMO PRELZ OLTRAMONTI, JOHN D. PHILLIPS, JOHN P. RIGAS,
CARL E. SANDERS, DRU A. SEDWICK, AND LAWRENCE C. TUCKER, EACH
A DIRECTOR OF WORLD ACCESS. PLEASE SEE WORLD ACCESS' ANNUAL
REPORT ON FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 1999,
FILED ON MARCH 30, 2000, FOR A DESCRIPTION OF THE WORLD
ACCESS SECURITY HOLDINGS OF EACH OF THE WORLD ACCESS
DIRECTORS.
WORLD ACCESS CONTACT: MICHELE WOLF
(404-231-2025) V.P. OF INVESTOR RELATIONS
HTTP://WWW.WAXS.COM
