EXHIBIT 10.4
                                    GUARANTY


         In consideration  of, and as an inducement for the granting,  execution
and  delivery of the  foregoing  Lease  Agreement,  dated  October 28, 2005 (the
"Lease"),  by 3280 PEACHTREE I LLC,  landlord therein named  ("Landlord",  which
term shall be deemed to include the named Landlord, its successors and assigns),
to AMERICAN  TELECONFERENCING  SERVICES,  LTD.,  D/B/A PREMIERE GLOBAL SERVICES,
tenant therein named ("Tenant",  which term shall be deemed to include the named
Tenant and its successors and assigns),  and in further consideration of the sum
of One Dollar ($1.00) and other good and valuable consideration paid by Landlord
to  the   undersigned,   the  receipt  and   sufficiency  of  which  are  hereby
acknowledged,  the  undersigned,  PREMIERE GLOBAL SERVICES,  INC.  ("Guarantor",
which term shall be deemed to include the named Guarantor and its successors and
assigns), does hereby guarantee, absolutely and unconditionally, to Landlord the
full and prompt  payment of Base Rental,  additional  rent and all other charges
and  sums  (including,   without  limitation,   Landlord's  legal  expenses  and
attorneys' fees and disbursements) payable by Tenant under the Lease, and hereby
further  guarantees  the full and timely  performance  and observance of all the
covenants, terms, conditions and agreements therein provided to be performed and
observed  by  Tenant;  and  Guarantor  hereby  covenants  and agrees to and with
Landlord  that if an event of default shall at any time be made by Tenant in the
payment of any Base Rental,  additional  rent or other  charges and sums,  or if
Tenant should  default in the  performance  and  observance of any of the terms,
covenants and  conditions  contained in the Lease under Article 19 of the Lease,
Guarantor  shall and will  forthwith  pay Base Rental,  additional  rent and all
other charges and sums, to Landlord and any arrears thereof,  and shall and will
forthwith  faithfully  perform  and fulfill  all of such  terms,  covenants  and
conditions  and will  forthwith  pay to Landlord  all damages  that may arise in
consequence  of any such event of default by Tenant under the Lease,  including,
without limitation,  all reasonable  attorneys' fees and disbursements  actually
incurred by Landlord or caused by any such  default or the  enforcement  of this
Guaranty.

         This Guaranty is an absolute and unconditional guaranty of payment (and
not  of  collection)  and  of   performance.   The  liability  of  Guarantor  is
co-extensive  with that of Tenant and also joint and several  and this  Guaranty
shall be  enforceable  against  Guarantor  without the  necessity of any suit or
proceeding on Landlord's  part of any kind or nature  whatsoever  against Tenant
and without  the  necessity  of any notice of  non-payment,  non-performance  or
non-observance  or of any notice of  acceptance of this Guaranty or of any other
notice or demand to which Guarantor  might  otherwise be entitled,  all of which
Guarantor  hereby expressly  waives.  Guarantor hereby expressly agrees that the
validity of this Guaranty and the obligations of Guarantor hereunder shall in no
way be  terminated,  affected,  diminished  or  impaired  by  reason  of (a) the
assertion  or the  failure to assert by  Landlord  against  Tenant of any of the
rights or remedies  reserved by Landlord  pursuant to the terms,  covenants  and
conditions  of the Lease,  or (b) any  non-liability  of Tenant under the Lease,
whether by insolvency,  discharge in bankruptcy,  or any other defect or defense
which may now or hereafter exist in favor of Tenant.



<PAGE>

         This  Guaranty  shall be a continuing  guaranty,  and the  liability of
Guarantor  hereunder  shall in no way be  affected,  modified or  diminished  by
reason of (a) any assignment,  renewal, modification,  amendment or extension of
the Lease,  or (b) any  modification or waiver of or change in any of the terms,
covenants  and  conditions  of the  Lease by  Landlord  and  Tenant,  or (c) any
extension of time that may be granted by Landlord to Tenant, or (d) any consent,
release, indulgence or other action, inaction or omission under or in respect of
the Lease,  or (e) any  dealings or  transactions  or matter or thing  occurring
between Landlord and Tenant, or (f) any bankruptcy, insolvency,  reorganization,
liquidation, arrangement, assignment for the benefit of creditors, receivership,
trusteeship  or  similar  proceeding  affecting  Tenant,  whether  or not notice
thereof is given to Guarantor.  Guarantor  expressly waives the right to require
Landlord  to take action  against  Tenant as  provided  for in Official  Code of
Georgia  Annotated  Section  10-7-24  (Michie  1981,  as  amended  or  hereafter
amended).

         Should Landlord be obligated by any bankruptcy or other law to repay to
Tenant or to Guarantor or to any trustee,  receiver or other  representative  of
either of them, any amounts  previously  paid, this Guaranty shall be reinstated
in the amount of such repayments.  Landlord shall not be required to litigate or
otherwise  dispute its  obligations to make such  repayments if it in good faith
believes that such obligation exists.

         No delay on the part of  Landlord  in  exercising  any right,  power or
privilege under this Guaranty or failure to exercise the same shall operate as a
waiver of or otherwise affect any such right, power or privilege,  nor shall any
single or  partial  exercise  thereof  preclude  any other or  further  exercise
thereof or the exercise of any other right, power or privilege.

         No waiver or  modification  of any  provision of this  Guaranty nor any
termination  of this Guaranty  shall be effective  unless in writing,  signed by
Landlord;  nor  shall  any such  waiver be  applicable  except  in the  specific
instance for which given.

         All of  Landlord's  rights and remedies  under the Lease and under this
Guaranty,  now or  hereafter  existing  at law or in  equity  or by  statute  or
otherwise, are intended to be distinct,  separate and cumulative and no exercise
or partial  exercise of any such right or remedy therein or herein  mentioned is
intended to be in exclusion of or a waiver of any of the others.

         Guarantor  agrees  that  whenever  at any  time  or  from  time to time
Guarantor  shall make any  payment to  Landlord  or perform or fulfill any term,
covenant  or  condition  hereunder  on account  of the  liability  of  Guarantor
hereunder,  Guarantor  will  notify  Landlord  in writing  that such  payment or
performance,  as the  case may be,  is for  such  purpose.  No such  payment  or
performance  by  Guarantor  pursuant  to  any  provision  hereof  shall  entitle
Guarantor by  subrogation  or otherwise to the rights of Landlord to any payment
by Tenant or out of the property of Tenant,  except after payment of all sums or
fulfillment  of all  covenants,  terms,  conditions  or agreements to be paid or
performed by Tenant.

         Guarantor  agrees  that it will,  at any  time  and from  time to time,
within ten (10) business days following  written  request by Landlord,  execute,
acknowledge and deliver to Landlord a statement certifying that this Guaranty is
unmodified  and in full force and  effect (or if there have


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<PAGE>

been  modifications,  that the same is in full force and effect as modified  and
stating such modification). Guarantor agrees that such certificate may be relied
on by anyone  holding or  proposing  to acquire any interest in the Building (as
defined in the Lease) from or through  Landlord or by any  mortgagee (as defined
in the  Lease) or  prospective  mortgagee  or lessor of the  Building  or of any
interest therein.

         Without  regard to  principles  of  conflicts  of laws,  the  validity,
interpretation,  performance  and enforcement of this Guaranty shall be governed
by and construed in  accordance  with the internal laws of the State of Georgia.
Guarantor hereby submits to the non-exclusive personal jurisdiction in the State
of Georgia,  the courts  thereof and the United States  District  Courts sitting
therein,  for the enforcement of this Guaranty,  and Guarantor hereby waives any
and all personal rights under the law of any jurisdiction to object on any basis
(including, without limitation, inconvenience of forum) to jurisdiction or venue
within  the State of  Georgia  for the  purpose of  litigation  to enforce  this
Guaranty.

         IN WITNESS  WHEREOF,  the  undersigned  has duly executed this Guaranty
this 28th day of October, 2005.


                                                 GUARANTOR(S):

                                                 PREMIERE GLOBAL SERVICES, INC.
Signed, sealed and delivered
in the presence of:

/s/ Janine K. Seebeck                      By:   /s/ Jeffrey A. Allred   (SEAL)
---------------------                            -------------------------------
Witness                                          Its: PRESIDENT
                                                      --------------------------

                                           Attest:  /s/ L. Scott Askins
                                                    ----------------------------
/s/ Anne E. Jacobs                               Its:  Svp - Legal and Secretary
------------------                                    --------------------------
Notary Public                                               (CORPORATE SEAL)

My Commission Expires: May 16, 2006        Address:

__________________________________         3399 Peachtree Rd NE
(NOTARIAL SEAL)                            Suite 700
                                           Atlanta, GA 30326

                                           Social Security Number or
                                           Federal Identification Number:

                                           59-0374176


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