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Q3EarningsDateRelease_FINAL

iBasis Announces Third Quarter 2002 Results Release and Conference Call Date

BURLINGTON, MASS. - October 8, 2002 - iBasis, Inc., (NASDAQ: IBAS), the leader in Internet-based voice communications, today announced that it will report third quarter 2002 financial results on Thursday, October 24, 2002, before the opening of the stock market.

The company will also host a conference call, led by Ofer Gneezy, iBasis president & CEO, to discuss the results of the quarter on Thursday, October 24, 2002, at 11:00 AM EDT (8:00 AM PDT). The public is invited to listen in by logging on at the company's website at www.ibasis.com.

Individual investors can also listen to the call through CCBN's individual investor center at www.companyboardroom.com. Institutional investors can access the call via CCBN's password-protected event management site, StreetEvents (www.streetevents.com).

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Except for historical information, all of the expectations, projections and assumptions contained in the foregoing press release, including those relating to the company's current expectations regarding revenue growth, sources of revenue, margin improvement and future capital expenditures constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties. Important factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, (i) the extent of adoption of the company's services and the timing and amount of revenue generated by these services; (ii) fluctuations in the market for and pricing of these services; (iii) potential inability of the company to maintain its NASDAQ listing; and (iv) the other considerations described as "Risk Factors" in iBasis' Annual Report on Form 10-K for its fiscal year ended December 31, 2001, and the company's other SEC filings. We have no current intention to update any forward-looking statements.