sparq, Leading Competitive Carrier in Taiwan, Selects iBasis for International VoIP Services

BURLINGTON, MASS. - March 10, 2003 - iBasis, Inc. (OTCBB: IBAS), the leader in Internet-based voice communications, today announced that New Century InfoComm, a leading service provider in Taiwan doing business as sparqTM, has chosen to interconnect with iBasis for international call completion services over the iBasis NetworkTM. Interconnecting to iBasis will enable sparq to route international voice traffic over The iBasis Network, the world's largest Cisco Powered NetworkTM for Internet telephony, as well as complete calls for iBasis in Taiwan.

sparq joins the more than 170 carriers worldwide who have formed partnerships with iBasis. By providing Tier One quality international service to these carriers, iBasis has become one of the world's 10 largest carriers of international traffic¹ and was recently ranked by global service providers as the world's #1 international wholesale carrier² for the second consecutive year.

Using its nationwide high speed fiber network, as well as satellite facilities and undersea cable infrastructure, sparq provides a wide range of data and voice services to residential and business customers. Voice services include local, long distance, toll-free, and pre-paid calling card services. Data services include Internet access, virtual private networks (VPN), and hosting services.

"sparq is an innovative carrier in one of the most active international business markets in the world," said Ofer Gneezy, president and CEO of iBasis. "Like many other leading competitive carriers and PTTs, it is discovering that by outsourcing international traffic to iBasis it is able to focus on growing its domestic retail business."

About sparq
sparq is a privately owned telecommunication company formed with financial support from the Far Eastern Group, SingTel, and leading local enterprises. The company provides users a variety of telecommunication services based on its advanced technology, innovative services, and commitment to quality. sparq is licensed to provide communications services that include broadband applications, enterprise portals, Internet protocol virtual private networks (IP-VPN), and web hosting.

Through the application of high technology, sparq provides innovative and customer-oriented services. sparq's ultimate goal is not only to become a brand leader in the telecommunications industry, but also to help advance telecommunications service in Taiwan by introducing new technologies to the market.

About iBasis

Founded in 1996, iBasis (OTCBB: IBAS) is a leading provider of wholesale international telecommunications services. Named each of the last two years by service providers as the #1 international wholesale carrier in Atlantic-ACM's annual International Wholesale Carrier Report Card, iBasis is a preferred provider for many of the largest carriers in the world. Customers include AT&T, Cable & Wireless, China Mobile, China Telecom, China Unicom, Sprint, Telefonica, Telenor, Telstra, and WorldCom. The company's global VoIP infrastructure, The iBasis NetworkTM, is the world's largest international Cisco Powered NetworkTM for Internet Telephony. Based on its revenue growth from 1997 through 2001, iBasis was ranked the #8 fastest-growing technology company in North America and the #1 fastest-growing technology company in New England in the Technology Fast 500 national program sponsored by Deloitte & Touche. 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, ConnectPoint Global Access, and IP CallCard are trademarks of iBasis, Inc. 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' most recent Forms 10-K and 10-Q, and the company's other SEC filings. We have no current intention to update any forward-looking statements.