iBasis President and CEO to Highlight Continuing Growth of International Voice-over-IP Industry at Fall 2001 VON Conference

Ofer Gneezy to Contrast Expansion of International VoIP With Contraction of Traditional Telecommunications; New Technologies, Applications Seen Key to Growth of Voice Services

BURLINGTON, Mass.- October 10, 2001 - iBasis, Inc., (Nasdaq: IBAS), the leader in advanced Internet-based voice communications, today announced that its president and CEO Ofer Gneezy will deliver an industry keynote address at the upcoming Fall 2001 Voice on the NetTM (VON) Conference, hosted by Pulver.com. In his address, Mr. Gneezy will highlight the continuing growth and market penetration of international Internet telephony and cite the emerging VoIP solutions, voice transport and application development standards, and new, carrier-grade outsourced communications services that are expected to drive growth in voice services. Mr. Gneezy will deliver his keynote presentation on Wednesday, October 17th, from 2:45 to 3:10 pm US EDT, at the Fall 2001 VON Conference, which will be held at The Georgia International Convention Center in Atlanta, Georgia.

"The continuing market penetration of international VoIP transport stands in sharp contrast to the well-publicized challenges facing traditional telecommunications and other VoIP markets, such as PC-to-phone, enterprise and domestic services," said Ofer Gneezy, iBasis' president and CEO. "International service generally represents less than 10% of revenues for large carriers. However, the costs of maintaining a global service infrastructure are disproportionately high, which is why, less than four years since its introduction, VoIP has become a strategic advantage for global carriers, accounting for a significant and growing percentage of all international voice traffic."

Fall 2001 VON will be held from Monday, October 15th through Thursday, October 18th at the Georgia International Convention Center in Atlanta, Georgia. Fall VON will focus on the businesses, technologies and issues facing the Voice-over-IP industry today through a series of workshops, demos, industry perspectives, and general and breakout sessions. The conference will host more than 275 industry leader presentations, and over 130 exhibitors.

"The VON conference is a gathering of the Voice-over-IP elite, and we are thrilled to have industry leader and visionary Ofer Gneezy participate," said Jeff Pulver, founder, president and CEO of Pulver.com. "Ofer Gneezy was one of the first to grasp the true strategic potential of IP voice. Under his leadership, iBasis has quickly delivered on the promise of this new technology and become a recognized leader in global Internet telephony and enhanced voice services."

About Voice on the NetTM (VON)
Voice on the NetTM (VON) Conferences (www.von.com) focus on the convergence of the telecom and Internet industries. Considered to be the meeting place for the IP communications industry, VON focuses on the businesses, technologies and issues facing Voice-over-IP providers and users today. VON Conferences are held three times a year. Attendees include carriers, ISPs, next gen telecommunications providers, and enterprise users

About Pulver.com
Pulver.com builds a community for the IP communications industry through conferences, newsletters, mailing lists, analysis, liaison roles, advise to start-ups, summits, test projects and its web site. The Pulver.com role started with the emerging Voice-over-IP industry and has expanded into the instant messaging, wireless internet and broadband home spaces, as such services provide an integral back end to the increased functionality of IP-based communications. The company's founder, Jeff Pulver, has been involved with the technology since the beginning.

Newsletters include the Pulver Report, a monthly look at the industry, The Wireless Internet Report, and the The Broadband Home Report. Conferences include Voice on the Net (VON) held three times a year, Presence and Instant Messaging, and The Broadband Home. While VON attracts more than 2,000 delegates, Pulver.com sponsors various other smaller events as well.

Implementation projects include the Pulver Open Test Network, a completely open environment for companies to test interoperability. Pulverradio pushes the limits of streaming media and provides VoIP-related content. Content on the Pulver.com web site (www.pulver.com) includes slides from previous conferences, past Pulver reports, and job listings, as well as gateway, next gen telcos, instant messaging and SIP company listings.

About iBasis
Founded in 1996, iBasis (Nasdaq: IBAS) is the leader in advanced Internet-based voice communications. iBasis delivers toll quality international voice services and provides the infrastructure for hosted communications solutions, including messaging and speech-enabled content, e-commerce and customer service applications. The company's customers include many of the largest enterprises and carriers in the world, including AT&T, Cable & Wireless, China Mobile, China Unicom, Concert, ExxonMobil, Gannett, H&R Block, Home Shopping Network, Morgan Stanley, NTT, Telstra, Sabre Group, Sprint, Western Union, WorldCom, and Verizon. iBasis' hosted, enhanced service solutions include SpeechPortTM, a scalable, customizable ASP environment for speech-enabled business solutions, VoCore^SM messaging and the IP CallCardTM pre- and post-paid calling card platform. The iBasis NetworkTM is the world's largest international Cisco Powered Network for Internet Telephony and the first to receive the Unified Communications-Cisco Powered Network (UC-CPN) designation. iBasis is listed in both the Russell 2000® and Russell 3000® Indexes. The company can be reached at its worldwide headquarters in Burlington, Mass., USA at 781-505-7500 or on the Internet at http://www.ibasis.com.

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