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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility
Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
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- -------------------------------- OMB APPROVAL
FORM 3 OMB Number: 3235-0104
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Estimated average burden
hours per response .... 0.5
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1. Name and Address of Reporting Person *
Brown Brothers Harriman & Co.
(Last) (First) (Middle)
59 Wall Street
(Street)
New York NY 10005
(City) (State) (Zip)
2. Date of Event Requiring Statement ( Month / Day / Year )
4/21/99
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
World Access, Inc. (WAXS)
5. Relationship of Reporting Person to Issuer (Check all applicable)
Director X 10% Owner
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Officer (give title Other
----- below) ----- (specify
below)
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6. If Amendment, Date or Original (Month/Year)
7. Individual or Join/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
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Form filed by More than One Reporting Person
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TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
1. Title of security 2. Amount of Securities 3. Ownership 4. Nature of Indirect
(Inst.4) Beneficially Owned Form: Direct (D) Beneficial Ownership
(Instr. 4) or Indirect (I) (Instr. 5)
(Inst. 5)
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the Form is filed by more than one reporting person, SEE instruction 5(b)(v). SEC 1473(8-92)
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FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS,
CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
1. Title of Derivative Security 2. Date Exercisable and 3. Title and Amount of Securities Underlying
(Instr. 4) Expiration Date Derivative Security (Instr. 4)
(Month/Day/Year)
Amount or
Date Expiration Title Number of
Exercisable Date Shares
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Preferred Stock (1) Immed. N/A Common Stock (2) (3)
Preferred Stock (1) Immed. 6/30/00 Common Stock (6) (3)
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4. Conversion or 5. Ownership 6. Nature of Indirect
Exercise Price of Form of Beneficial Ownership
Derivative Derivative (Instr. 5)
Security Security:
Direct (D) or
Indirect (I)
(Instr. 5)
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(4) I (5)
(4) I (5)
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Explanation of Responses:
(1) Par value $.01 per share.
(2) 4,347,826 shares, subject to adjustment.
(3) Brown Brothers Harriman & Co. is the the general partner of The 1818 Fund
III, L.P., and, as such, its pecuniary interest in the securities is limited
to its percentage interest in such securities.
(4) $1,000 per share of Preferred Stock divided by the Conversion Price, set at
$11.50, but subject to adjustment.
(5) By The 1818 Fund III, L.P.
(6) 1,739,130 shares, subject to adjustment.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, SEE Instruction 6 for procedure.
Brown Brothers Harriman & Co.
/s/ Lawrence C. Tucker May 10, 1999
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**Signature of Reporting Person Date
Page 2
SEC 1473 (8-92)
