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iBasis Names eCommerce Veteran to Head On-line Retail International Calling Business

BURLINGTON, MA— May 13, 2004 —- - iBasis, Inc. (OTCBB: IBAS), the leader in Internet-based voice communications, today announced that it has named Edward Weisberg, vice president, eCommerce, to head the Company's on-line retail international calling business. Weisberg brings to iBasis 10 years of eCommerce expertise, and over 20 years of marketing, sales, and business development experience in technology-driven companies. "Last year we leveraged our core strength in international wholesale to launch our fast-growing, higher-margin retail prepaid calling card business," said Ofer Gneezy, president and CEO of iBasis. "Now we are taking the next step in this progression by creating a direct relationship with the consumer. This will once again leverage our international network and billing system, and is expected to deliver higher margins than the retail prepaid calling card business.

"Ed brings to iBasis a depth of experience in the creation of successful eCommerce businesses that, in combination with our existing strengths, will further advance our leadership position in international communication services."

Prior to joining iBasis, Weisberg developed the Internet channel FrugalFlower.com, a national flower distribution company. Weisberg was previously president and co-founder of BX Technologies, Inc., a pioneering Web development, hosting, and web applications company. While there, he was instrumental in bringing more than 500 Web initiatives to fruition, including those for GE Silicones and Readers Digest. He oversaw the development, sales, and ongoing management of comprehensive eCommerce systems, content management systems, and several key vertical web-based product solutions. Prior to founding BX Technologies, Weisberg held various key marketing, planning, and sales roles at Paradigm Management Group, BASF, Data General, and Wang Laboratories.

Weisberg received a Masters in Management from MIT/Sloan School, and a BA from the University of Pennsylvania.

About iBasis

Founded in 1996, iBasis (OTCBB: IBAS) is a leading provider of wholesale international telecommunications services. For the past two years the company has been named by service providers as the best international wholesale carrier in Atlantic-ACM's annual International Wholesale Carrier Report Card1. iBasis is a preferred provider for many of the largest carriers in the world, including AT&T, Cable & Wireless, China Mobile, China Unicom, MCI, Sprint, Telefonica, Telenor, and Telstra. iBasis has carried more than six billion minutes of international voice traffic over its global Cisco Powered Network™, and is one of the ten largest carriers of international voice traffic in the world2. In addition to its wholesale international telecommunications services, iBasis provides retail prepaid calling cards to major distributors, utilizing the international iBasis Network. 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.

The New England Technology Fast 50 program is presented by Deloitte & Touche and Hale and Dorr, in association with the sponsor, Mazonson Inc. In addition, Mass High Tech and Trinity Communications are associated with the program.

   
 
 
     

 

 


 

1 ATLANTIC-ACM International Wholesale Carrier Report Card - 2002, 2003, & 2004

2 Telegeography 2003 data compared with iBasis annualized Q1 2004 traffic volume.

Assured Quality Routing, ConnectPoint, and iBasis are registered marks, The iBasis Network, Internet Central Office, Internet Branch Office, 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.