iBasis, Inc. Receives NASDAQ Delisting Notification

To Request Hearing With Listing Qualifications Panel

BURLINGTON, MA - August 14, 2002 iBasis, Inc. (NASDAQ: IBAS) today announced that it has received a Nasdaq Staff Determination letter notifying the Company that it does not comply with the minimum bid price requirement of $1 per share for continued listing set forth in Marketplace Rule 4450(a)(5) and that it does not currently meet the continued inclusion requirements for the SmallCap market set forth in Marketplace Rule 4310(c)(2)(B).

The Company's securities are subject to delisting from the Nasdaq National Market if by August 20, 2002 it does not request a hearing before a NASDAQ Listing Qualifications Panel to review the Staff Determination. The Company intends to request such a hearing. There can be no assurance that the Panel will grant the Company's request for continued listing.

About iBasis

Founded in 1996, iBasis (Nasdaq: IBAS) iBasis is one of the 20 largest carriers of international voice traffic in the world. A leading driver of the telecommunications network of the future, the company commands 13% share of all international VoIP traffic¹. iBasis was named the #1 international wholesale carrier in Atlantic-ACM's 2002 International Wholesale Carrier Report Card. iBasis provides international voice services for many of the largest carriers in the world, including AT&T, Cable & Wireless, China Mobile, China Unicom, Concert, Sprint, Telefonica, Telenor, Telstra, and WorldCom. The company's global VoIP infrastructure, The iBasis Network, spans more than 85 on-net countries and is the world's largest international Cisco Powered NetworkTM for Internet Telephony. 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, and AQR 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; (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.