Telespectrum Worldwide Inc. Announces it is in Discussion With its Bank Group

King of Prussia, PA- August 13, 2001 - Telespectrum Worldwide Inc. (OTC: TLSP), today announced that it is in discussions with its bank group to modify its credit agreement. The Company plans to reach an agreement with the bank group that will modify certain financial covenants and provide additional deferral of interest payments. Upon reaching agreement with the bank group, the Company plans to release its results of operations for the second quarter of 2001 and file its June 30, 2001 Form 10-Q.

Since financial results for the second quarter of 2001 have not yet been released, the conference call scheduled for today at 11:00am Eastern time to discuss these results has been postponed. The call will be rescheduled after the second quarter results are announced.