PROPOSAL FOR TRANSCOM’S BOARD OF DIRECTORS

Luxembourg, 25 April 2012 – Transcom WorldWide S.A., the global outsourced
services provider, today announced that, ahead of the Annual General Meeting
(the “AGM”) on 30 May 2012, the Nomination Committee proposes that the AGM
approves (i) the re-election of Mr. Henning Boysen, Mr. Stefan Charette and Mr.
Roel Louwhoff as directors of Transcom, and (ii) the election of Mrs. Laurie
Bowen, Mr. Alexander Izosimov, Mr. Dermot Jenkinson, and Mr. Mikael Larsson as
new directors of Transcom. Mrs. Mia Brunell Livfors, Mr. Charles Burdick, Mr.
Robert Lerwill, and Mrs. Torun Litzén have declined re-election. The Nomination
Committee proposes that the board of directors of Transcom re-elects Mr. Henning
Boysen to be Chairman of the board of directors of Transcom.
Laurie Bowen is President, Enterprise Business at Tata Communications Ltd
(“TCL”), part of the $83.5 billion Tata Companies. She is responsible for all of
TCL’s business with enterprises globally. In addition she is responsible for
marketing across the TCL group, as well as new ventures including TCL’s Banking
Infrastructure Services business. Prior to joining TCL, Mrs. Bowen held a number
of leadership positions at British Telecom, including Managing Director of
Commercial & Brands at BT Global Services, President of Global Business
Management, President of Global Financial Services, and CEO of BT Radianz. Mrs.
Bowen also spent over 20 years at IBM in a number of senior leadership positions
focusing on the telecommunications and financial services industries. Mrs. Bowen
has an MBA and BSc degrees in Electrical Engineering and Computer Science from
Washington University in St. Louis, USA.

Alexander Izosimov served as Chief
Executive Officer of the VimpelCom Group and, latterly, the enlarged VimpelCom
Ltd, which is one of the world’s largest emerging market telecommunications
companies, between 2003 and 2011. Mr. Izosimov is a director of Modern Times
Group MTG AB, East Capital AB, EVRAZ Group S.A. and Dynasty Foundation. He has
been a member of the Board of the GSMA (the governing body for the global mobile
telecommunications industry), as well a member of the Russian Prime Minister’s
Council for Competiveness and Entrepreneurship. Mr. Izosimov previously held
several senior management positions at Mars, Inc. over a period of seven years,
including as a member of the Global Executive Management Board and as Regional
President for Russia, the CIS, Eastern Europe and the Nordics. Mr. Izosimov also
worked as a consultant for McKinsey & Co in Stockholm and London for five years.
Mr. Izosimov graduated from the Moscow Aviation Institute with a Master’s degree
in Science and from INSEAD with an MBA.

Dermot Jenkinson is the founder of
beCogent Ltd, and was the company’s Chairman until its sale in August 2010. Mr.
Jenkinson remained with the business in an advisory capacity until March 2011.
Mr. Jenkinson has a wide range of other business interests, including membership
of the boards of John Menzies plc, the Scottish Friendly Society, Sunlaws
Development Company Ltd, Renewable Resources (Energy Solutions) Ltd, where he is
Chairman. Mr. Jenkinson was Executive Chairman of Early Learning Centre since
1987 and oversaw the expansion of the company from 90 to 212 stores, operating
in nine countries. As Executive Chairman of Smythsons, he successfully
repositioned it from a loss-making old-fashioned stationers, operating out of a
small shop in Bond Street, into a profitable modernized business with five
stores and a mail order operation in USA. Mr. Jenkinson was one of the founder
shareholders of Regal Hotel Group, and was its director from inception until the
business was sold in 1999. He started beCogent Ltd from scratch in 1999, and in
2010 the company had revenues of £50 million with five locations and over 3,000
employees. Mr. Jenkinson won Scottish Entrepreneur of the Year 2009. Mr.
Jenkinson is a graduate from Carnegie Mellon University in Pittsburgh,
USA. 

Mikael Larsson is Chief Financial Officer of Investment AB Kinnevik
since 2001. Mr. Larsson is a member of the boards of Bergvik Skog AB, Latgran
Biofuels AB, Vireo Energy AB and Relevant Traffic Europe AB, among others. Prior
to joining Kinnevik Mr. Larsson worked six years with audit and transaction
advisory services at Arthur Andersen in Stockholm. He also has experience from
his position as Group Controller at Scandinavian Leisure Group (today Thomas
Cook Northern Europe). As CFO of Kinnevik Mr. Larsson has overall responsibility
for the group’s internal and external financial reporting, internal control,
legal compliance, risk management, treasury and taxes. Mr. Larsson is a graduate
in Business Administration from Uppsala University. Mr. Larsson is familiar with
Transcom following seven months of working with the company as an adjunct and
advisory to the Board of Directors.

Nomination Committee Chairman Cristina
Stenbeck commented: "On behalf of the Nomination Committee, I am pleased to
announce the nomination of several new directors to the Board of Transcom. The
Nomination Committee believes the new Board will be well placed to steer the
business forward given its new strategic priorities.

The addition of Laurie
Bowen from Tata Communications, with her extensive international systems
services experience, will reinforce and strengthen Transcom's strategic focus on
growing and deepening its client relationships worldwide. Alexander Izosimov
brings, in addition to his strategic insight, a successful track record gained
in emerging markets, notably in Eastern Europe and Russia, in the media and
telecommunications arenas which remain important market sectors for Transcom.
Dermot Jenkinson, who founded and operated a call center business for 11 years
in the United Kingdom, brings direct sector experience and thus strengthening
the Board’s industry knowledge. As CFO of Kinnevik, Transcom's largest
shareholder, Mikael Larsson brings strong financial leadership skills required
to lead the Audit Committee's work ensuring its focus on the turnaround of the
business following its recent restructuring.

On behalf of Transcom’s
shareholders, I would like to thank Mia Brunell Livfors, Charles Burdick, Robert
Lerwill and Torun Litzén for their contributions over the years to Transcom,
especially during this most recent demanding period of restructuring that
required a lot of their time and commitment."

The Nomination Committee
consists of Cristina Stenbeck as representative of Investment AB Kinnevik,
Stefan Charette as representative of Creades AB, Tomas Ramsælv as representative
of Odin Funds, and Caroline af Ugglas as representative of Skandia Liv. The four
shareholder representatives in the Nomination Committee jointly represent more
than 50 percent of the voting rights in Transcom. Information about the work of
the Nomination Committee can be found on Transcom’s corporate website at
www.transcom.com.

# # #

For further information, please contact:

Johan
Eriksson, President and CEO
+46 70 776 80 22

Aïssa Azzouzi, CFO
                                    +352 27 755 021

Stefan Pettersson, Head
of Investor Relations                                   +46 70 776 80 88
About Transcom

Transcom is a global outsourced service provider entirely
focused on customers, the service they experience and the revenue they generate.
Our customer management and credit management services are designed to
strengthen our clients’ customer relationships and secure their revenue
streams.

Our broad service portfolio supports every stage of the customer
lifecycle, from acquisition through service, retention, cross and upsell, then
on through early and contingent collections to legal recovery.  Expert at
managing both customers and debt, we make a positive contribution to our
clients’ profitability by helping them win customers, maintain their loyalty and
secure their payments.

And, while our services are designed to maximize
revenue, our delivery operations are built to drive efficiency.  Through our
global network we can provide service in any country where our clients have
customers, accessing the most appropriate skills and deploying the best
communication channels in the most cost effective locations.

Every day we
handle over 600,000 customer contacts in 33 languages for more than 350 clients,
including brand leaders in some of today’s most challenging and competitive
industry sectors. The experience we gain is used to constantly refine our
service portfolio and business processes, allowing us to respond quickly to
changing market conditions and client requirements.

Transcom WorldWide S.A.
Class A and Class B shares are listed on the Nasdaq OMX Stockholm Small Cap list
under the symbols ‘TWW SDB A’ and ‘TWW SDB B’.