TRANSCOM REPORTS FINANCIAL RESULTS FOR THE FOURTH QUARTER AND FULL YEAR ENDED 31 DECEMBER 2008

TRANSCOM REPORTS FINANCIAL RESULTS FOR THE FOURTH QUARTER AND FULL YEAR ENDED 31
DECEMBER 2008

Luxembourg, 9 February 2009 - Transcom WorldWide S.A., the global outsourced
services provider, today announced its financial results for the fourth quarter
and full year ended 31 December 2008.

FOURTH QUARTER HIGHLIGHTS

•	Net revenue down 9% to €151.9 (€167.6) million
•	Gross margin down to 20.8% (23.4%)
•	EBITA down 56% to €5.3 (€12.0) million  
•	EPS down to €0.03 (€0.09)
•	Organic External revenue up 24%, with Tele2 revenue representing 23% of total
Group revenue
•	One-off costs of €3.2 million relating to the transition of CEO and bad debt
provisions in the North region

FULL YEAR FINANCIAL HIGHLIGHTS

•	Net revenue up 5% to €631.8 (€599.2) million
•	Gross margin up to 20.9% (20.8%)
•	EBITA down 16% to €31.0 (€37.1) million 
•	EPS down to €0.22 (€0.33)
•	Tele2 revenue represented 26% of total Group revenue


CHIEF EXECUTIVE OFFICER'S STATEMENT

Pablo Sanchez-Lozano, President and Chief Executive Officer of Transcom, said:
“During 2008, Transcom experienced volume reductions with a number of major
clients and, towards the end of the year, began to see the impact of the weaker
overall macroeconomic environment.  These volume decreases resulted in
realignments in some of Transcom's markets during the year, which contributed to
a year-on-year EBITA reduction of €15 million.  In addition, in the fourth
quarter Transcom reported one-off costs of €3.2 million relating the change of
CEO and bad debt provisions in the North region.

“In line with the Company's strategy, we maintained the momentum of Transcom's
offshore operations, which continued to deliver profitable growth throughout the
year.  In addition, the CMS business showed steady performance, with revenue
from the CMS sector increasing by 28.5% in the full-year and representing 15.1%
of total Group revenue in 2008, with a gross margin of 31.5%.

“Moving forward, Transcom remains focused on margin expansion and cash
management, and seeks growth opportunities that will enhance the Company's
overall profitability.  We are closely monitoring the effects that the current
macroeconomic climate is having on our business and are putting in place
measures in respect of operational processes and cost structures in order to
mitigate the impact that these external factors may have on Transcom's financial
performance.

“Transcom's Board of Directors will propose to the Annual General Meeting of
Shareholders 2009 that no dividend will be paid out to shareholders for the
full-year 2008, as they wish to remain prudent and retain Transcom's current
financial flexibility.”


GROUP OPERATING & FINANCIAL REVIEW

Revenue & New Business Development

In the fourth quarter, Transcom's revenue decreased by 9.4% year-on-year to
€151.9 million (€167.6 million), while revenue for the full year was up by 5.4%
year-on-year to €631.8 million (€599.2 million).  Organic External revenue
increased by 23.7% in the fourth quarter and by 33.5% in the full-year.
During the fourth quarter, the Company signed a number of new contracts in the
CRM and CMS sectors and extended many existing contracts.  New CRM signings
during the fourth quarter included Kabel Deutschland and DHL in Germany,
Castorama in France and Ventelo AB in Sweden.  New CMS contracts signed during
the fourth quarter included Syd Energi Broadband in Denmark and PKO Bank Polski
in Poland.

It is important to note that although the Company continues to win significant
new business it is not always possible to disclose the names of new clients due
to internal HR-related considerations. 

CRM Sector

CRM revenue decreased by 10.1% to €127.8 million (€142.1 million) in the fourth
quarter.  This was the result of a number of factors, including lower volumes
and a year-on-year reduction in outbound telemarketing activities.  The North
America & Asia Pacific and Iberia regions both delivered top- and bottom-line
results ahead of the Company's plans during the fourth quarter on the back of
significant growth in Transcom's Manila operations and the existing customer
base.

In line with the Company's expectations, the CRM gross margin was 19.1% in the
fourth quarter, up slightly over Q407 (18.9%).  Fourth quarter EBITA for the CRM
sector was €2.4 million.  The year-on-year reduction in EBITA was mainly driven
by adjustments to the customer portfolio and bad debts provisions in the North
region.

CMS Sector

In the fourth quarter, CMS revenue declined by 5.5% to €24.1 million (€25.5
million).  The CMS gross margin decreased to 31.5% from 40.8% in Q407.  The
decrease in revenue and profit in the fourth quarter was the result of lower
volumes with existing clients.  The Company continued to generate new business
in this area and expects this trend to continue. 

Transcom purchased a small debt portfolio for €1.1 million in the fourth
quarter.  Following this transaction, the Company now has €1.7 million worth of
portfolios on its balance sheet and all of Transcom's portfolios continue to
outperform planned recovery rates.  

Financial Review

Depreciation & Amortisation
Depreciation in the fourth quarter was €5.1 million and Transcom had a cost of
€800,000 relating to the amortisation of intangible assets.  For the full-year,
depreciation increased to €18.4 million (€13.3 million), and the Company had an
amortisation cost of €3.1 million (€1.1 million).

SG&A
SG&A decreased to €26.3 million (€27.2 million) in the fourth quarter.  Compared
to Q308, Transcom had increased SG&A costs in the fourth quarter as it continued
to grow its business in the Philippines, consolidated Newman & Co. (the UK debt
collection business acquired in September 2008), and incurred some one-off
costs.

Working Capital
Credit risk and working capital management are key areas of focus for the
Company and extensive work is currently being carried out.  Cash improved by
€2.1 million in the fourth quarter due to a decrease in working capital
reduction in the quarter as a result of improvements in debt collection. 

Exchange Rate Impact
Exchange rate movements had an impact on Transcom's Euro-denominated reporting
figures in the fourth quarter that resulted in a €2.7 million reduction in
revenues and a €200,000 reduction in operating profit.

Debt & Financing
As at 31 December 2008 Transcom had gross debt of €127 million and its net debt
was €82 million.  The Company's current net debt to EBITDA ratio is 1.7 and
Transcom expects this ratio to remain between 1.5 and 2.5 in the coming year.

For the fourth quarter, the Company had net interest payments of €1.5 million
due to the interest payable on its corporate loan facility.  Interest payments
for the full-year amounted to €6.0 million.  For the full year 2009, Transcom is
forecasting interest payments to remain relatively flat.

Tax Rate
Transcom's tax rate was 26% for both the fourth quarter and the full-year.  The
Company is forecasting a similar tax rate for 2009.


SEGMENTAL OPERATING REVIEW

North

Revenue in the North region decreased by 21.3% to €34.8 million (€44.2 million)
in the fourth quarter.  This revenue decrease was largely accounted for by Euro
translation losses of €2.7 million, a €3.6 million decrease in installed base
revenues due to lower customer activity levels and changes to the customer mix.

The North region reported an EBITA loss of €1.1 million in the fourth quarter,
mainly as a result of bad debt provisions and the overall re-engineering of the
region's CMS business.

West & Central

Revenue in the West & Central region decreased by 15.3% to €36.0 million (€42.5
million) in the fourth quarter.  This decrease was largely the result of a €7.5
million year-on-year CRM volume decline in sales of existing customers across
the region.

The CMS business continued to develop well in the West & Central region during
the fourth quarter.  The Company is now working on a greater number of legal
cases, which have higher costs in the short-term compared to contingency
collections.  These changes affected the region's fourth quarter gross margin,
which was reduced to 22.5% (31.8%).  Fourth quarter EBITA decreased by 60.0% to
€2.4 million (€6.0 million).  

South

Revenue in the South region decreased by 32.3% to €28.5 million (€42.1 million)
in the fourth quarter.  As previously mentioned, this was driven by lower
outbound telemarketing revenues as well as volume reductions with major
customers in the region.  Transcom continued to ramp-up its Tunisian operations
during the fourth quarter.

The South region reported an EBITA loss of €400,000 in the fourth quarter.  This
was largely the result of the volume reductions noted above.

Iberia

Revenue in the Iberia region increased by 32.1% to €25.1 million (€19.0 million)
in the fourth quarter.  This was due in large part to the expansion of recently
signed contracts and the performance of the CMS business in the region.  

The Iberia region's EBITA increased to €2.0 million (€100,000) in the fourth
quarter. 

North America & Asia Pacific

Revenue in the North America & Asia Pacific region increased by 38.9% to €27.5
million (€19.8 million) in the fourth quarter.  This was primarily due to the
continued ramp-up of Transcom's Manila centre due to increasing demand from
existing and new clients in North America.  

The North America & Asia Pacific region reported EBITA of €2.4 million
(€900,000) on the back of the increased scale of the Philippines operation.


OTHER INFORMATION

Notice of Financial Results
Transcom's financial results for the first quarter and three months ended 31
March 2009 will be published on 20 April 2009.


Transcom Board of Directors
9 February 2009


Transcom WorldWide S.A.
45 rue des Scillas
L-2529 Howald
Luxembourg
+352 27 755 000
www.transcom.com
Company registration number: RCS B59528
Notes to Editors:

The following provides a breakdown of which countries are included in each
geographical region.

•	North: Denmark, Norway and Sweden
•	West & Central: Austria, Belgium, Croatia, Czech Republic, Estonia, Germany,
Hungary, Latvia, Lithuania, Luxembourg, the Netherlands, Poland, Romania,
Serbia, Slovakia, Switzerland AND the United Kingdom
•	South: France, Italy and Tunisia
•	Iberia: Chile, Portugal and Spain
•	North America & Asia Pacific: Canada, Philippines and USA

For the full tabular financial information, please see attached PDF file, visit
the Transcom website at www.transcom.com, or call Shared Value on the number
listed below.

#  #  #

For further information please contact: 
Pablo Sanchez-Lozano, President and CEO
+352 27 755 000

Noah Schwartz, Investor & Press Enquiries
+44 20 7321 5032
transcom@sharedvalue.net 


About Transcom
Transcom WorldWide S.A. is a rapidly expanding Customer Relationship Management
(CRM) solution provider, with 75 sites delivering services from 29 countries -
Austria, Belgium, Canada, Chile, Croatia, Czech Republic, Denmark, Estonia,
France, Germany, Hungary, Italy, Latvia, Lithuania, Luxembourg, the Netherlands,
Norway, the Philippines, Poland, Portugal, Romania, Serbia, Slovakia, Spain,
Sweden, Switzerland, Tunisia, the UK and the USA.
The company provides CRM solutions for companies in a wide range of industry
sectors, including telecommunications and e-commerce, travel & tourism, retail,
financial services and utilities.  Transcom offers clients a broad array of
relationship management services, including inbound communication; telemarketing
and outbound; Administrative Tasks; Web servicing; CRM Consultancy Service;
Contract Automation; Credit Management Service; Legal Services; and
Interpretation Services.  Client programs are tailor-made and range from single
applications to complex programmes, which are offered on a country-specific or
international basis in up to 33 languages. 

Transcom WorldWide S.A. class A and B shares are listed on the Nordic Exchange
Mid Cap list under the symbols ‘TWW SDB A' and ‘TWW SDB B'.