iBasis Announces Former BT, Concert Sales Executive to Head Sales for Europe, Middle East and Africa

BURLINGTON, MASS. - May 12, 2003 - iBasis, Inc. (OTCBB: IBAS), the leader in Internet-based voice communications, today announced that Patrick Moran has been named Vice President of Sales for Europe, the Middle East, and Africa (EMEA). The position was formerly held by Dan Powdermaker, who was promoted to Sr. Vice President of Worldwide Sales in 2002.

Moran brings more than 30 years of telecommunications sales and sales management experience to iBasis. During 28 years with British Telecom (BT), he held a variety of positions including Head of New Business Sales for Europe and Sales Channel Director for Wholesale Services. Moran also gained substantial experience in the wireless communications market as Head of Mobility Sales for Concert Ltd., the joint venture between AT&T and BT.

"We're thrilled to have Pat on our sales management team," said Ofer Gneezy, president and CEO of iBasis. "He has tremendous experience in developing and managing both large accounts and effective sales teams and in selling to large national carriers and mobile carriers. Pat's presence allows Dan Powdermaker to apply his proven sales management skills more broadly across our entire sales organization, and help drive continued margin growth worldwide."

Based in London, Moran is responsible for all day-to-day operations of iBasis' EMEA sales team, including selling iBasis services to carriers and developing new partnerships for termination within the region. Under Powdermaker's leadership iBasis' business in the EMEA region grew rapidly and the company added more than 20 Tier One carriers from the region to its customer list. iBasis also established four Internet Central Offices (ICOs) in Europe during that period. Powdermaker joined iBasis in 1997 and was the company's first sales person. Prior to leading the EMEA sales team, he was responsible for iBasis' sales operations in the Asia Pacific region.

"There are large opportunities for iBasis all over the world as the market for high quality VoIP services continues to grow," said Dan Powdermaker, sr. vice president of worldwide sales for iBasis. "Having a proven sales executive like Pat taking over the growth and management of this key region enables me to focus my energies on ensuring that we're making the most of these opportunities."

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 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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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.