iBasis To Highlight New Portability of Speech Applications, Outsourcing Capabilities at Global Speech Day

Company's Vice President of Technology for Speech Solutions Will Outline Strategies for Delivering Successful Hosted Speech Recognition Applications

BURLINGTON, MA - May 16, 2002 - iBasis, Inc., (Nasdaq: IBAS), the leader in Internet-based voice communications, today announced that Vishal Dhawan, the company's vice president of Technology for Speech Solutions, will speak on May 22^nd at Global Speech Day, the world's largest online event for the speech recognition industry. Mr. Dhawan's presentation will provide an overview of the exciting new technologies that are making it possible for enterprises to safely and cost-effectively outsource mission critical speech applications using the emerging VoiceXML standard. Mr. Dhawan will detail the new development efficiencies and portability of today's speech applications, as well as the advantages of outsourcing phone-based speech services using iBasis SpeechPortTM and the iBasis Open Hosting Environment (OHE).

Global Speech Day 2002, a free, two-day event hosted by SpeechWorks International (NASDAQ: SPWX), will take place "live" online on May 21-22. Last year, more than 10,000 registrants from over 94 countries participated. To hear Mr. Dhawan's presentation, which is scheduled for 11:50 AM US EDT on Wednesday, May 22^nd, and to learn more about the conference, please visit http://www.globalspeechday.com/home_main.asp .

About iBasis SpeechPort
iBasis SpeechPort is an ASP environment that helps enterprises and carriers grow revenues and enhance customer loyalty and satisfaction with automated, phone-based customer self-service applications. As an outsourced, hosted solution, iBasis SpeechPort enables organizations to minimize the operating and capital costs of phone-based self-service applications, while maintaining tight control over mission- critical data and systems. SpeechPort supports rapid application development with speech recognition, text-to-speech, and extensive back-end integration capabilities. iBasis Speech Solutions has more than a decade of experience providing complex, high-volume customer care applications to Fortune 500 companies including AT&T, Kelly Services, Home Shopping Network, H&R Block, MCI, Morgan Stanley, and Western Union.

In January 2002, iBasis SpeechPort was awarded the 2001 Product of the Year by Communications Solutions^® Magazine, and in February 2002, was named 2001 Product of the Year award by Customer Interaction Solutions^® Magazine.

About iBasis
Founded in 1996, iBasis (Nasdaq: IBAS) is the leader in Internet-based voice communications. iBasis delivers toll quality international voice services and provides the infrastructure for hosted communications solutions, including speech-enabled content, e-commerce and customer service applications. The company's customers include many of the largest carriers and enterprises in the world, including AT&T, Cable & Wireless, China Mobile, China Unicom, ExxonMobil, H&R Block, Home Shopping Network, Morgan Stanley, NTT, Qwest, Telefonica, Telenor, Telstra, Sabre Group, Sprint, Western Union, and WorldCom. iBasis' hosted, enhanced service solutions include SpeechPortTM, a scalable, customizable ASP environment for speech-enabled business solutions. The iBasis Network is the world's largest international Cisco Powered Network for Internet Telephony. iBasis is listed in both the Russell 2000® and Russell 3000® Indexes. The company can be reached at its worldwide headquarters in Burlington, Massachusetts, USA at 781-505-7500 or on the Internet at www.ibasis.com.

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Assured Quality Routing and iBasis are registered marks; The iBasis Network, Internet Central Office, Internet Branch Office, IP CallCard and SpeechPort are trademarks of iBasis, Inc. or its subsidiaries. Cisco and Cisco Powered Network are registered trademarks of Cisco Systems, Inc. All other trademarks are the property of their respective owners.

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; and (iii) 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.