1. A method for developing context dependent acoustic models, comprising the steps of: developing a low-dimensional space from training speech data obtained from a plurality of training speakers; representing the training speech data from each of said plurality of training speakers as the combination of a speaker dependent component and a speaker independent component; representing said speaker dependent component as centroids within said low-dimensional space; representing said speaker independent component as linear transformations of said centroids; and performing maximum likelihood re-estimation on said training speech data of at least one of said low-dimensional space, said centroids, and said offsets to represent context dependent acoustic model.