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PBC acquires TMS Health

August 10, 2006
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Palm Beach Capital, through one of its investment entities, today announced that it has acquired TMS Health (formerly known as TMS Professional Markets Group) for $10.5 million from Access Worldwide Communications, Inc. (OTC Bulletin Board: AWWC.OB). Additional terms of the transaction were not disclosed. The transaction marks the fifth equity investment by Palm Beach Capital during 2006.

Founded in 1992 and located in Boca Raton, Florida, TMS Health (“TMS”) is a leading provider of relationship marketing solutions for the pharmaceutical industry. Specifically, TMS provides cost-effective marketing reach for pharmaceutical clients by delivering customized marketing programs that educate and communicate with healthcare professionals and healthcare consumers. The company’s programs utilize the telephone as a primary communications vehicle with direct mail, interactive voice response, the Internet and e-mail employed as complementary media, all combined to increase marketing results and customer value for its clients. TMS Health processes inbound calls from consumers who obtain toll-free numbers through pharmaceutical marketing media and also initiates outbound calls on behalf of its pharmaceutical clients to doctors, pharmacists and other healthcare professionals. The company communicates with an average of 5,000 physicians and 15,000 pharmacists each week through its 340-seat pharmaceutical-dedicated call center.

“TMS Health is an innovative leader in providing marketing reach to the pharmaceutical industry,” stated Michael L. Schmickle of Palm Beach Capital. “In addition to its unique position in a pharmaceutically focused niche, what further attracted us to the company was the quality of individuals on the TMS team. At all levels, the organization is comprised of individuals with a clear goal in mind – to expand the sales and marketing efforts of its clients while at the same time improving the health and lives of healthcare consumers.”

The company has established itself as a consistently reliable provider of pharmaceutical marketing services by delivering high quality programs in pharmacy stocking, product detailing, pharmacy education and awareness, clinical trial recruitment, physician tele-detailing, pharmacist profiling, direct-to-consumer (“DTC”) call handling, vacant territory management and pharmaceutical compliance/adherence programs. TMS has worked with the majority of mid-sized to large pharmaceutical companies over the past 14 years and enjoys a high level of awareness among key marketing decision makers in the industry.

Palm Beach Capital partnered with both Lee H. Edelstein, the company’s original founder, and Guy M. Amato, the company’s former CEO, for the acquisition. Edelstein will assume the role of non-executive Chairman and Amato will run the day-to-day operations as the company’s President and CEO.

Lee Edelstein, founder of TMS Health stated, “I watched the company from the outside for the past few years while it was under prior ownership. Now, as an owner in the business once again and through employing strategic initiatives and leadership with Guy Amato, I am confident that TMS will enhance its already exceptional customer service, expand its customer base and become a dominant player in the pharmaceutical marketing industry.”

“We are excited about the expertise and opportunities that our partner, Palm Beach Capital, will bring to this organization,” stated Guy Amato. “I left the company in mid-2005 and must admit that I am extremely delighted to be back in the organization with such a strong, dedicated equity partner. With the financial resources of Palm Beach Capital and the historical knowledge and industry expertise that Lee and I both bring, the new TMS is poised to reach its full potential.”

TMS Health prides itself in being an industry leader and innovator in expanding the marketing reach of its client base. Notable clients of TMS Health include Astra Zeneca, Johnson & Johnson, Merck, Novartis, Novo Nordisk and leading pharmaceutical advertising agencies among others. For more information, please visit the company’s website at www.tmshealth.com.

About Palm Beach Capital

Founded in 2001, Palm Beach Capital is a private equity investment firm which specializes in making investments in and building early and middle-stage private companies. With offices in both Palm Beach and Tampa, Florida, the firm focuses on high growth investment opportunities with enterprise values ranging from $10 million to $100 million. Since its inception, Palm Beach Capital has made investments in over 20 companies and has approximately $200 million in total assets under management. For more information, please visit the firm’s website at www.pbcap.com.

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