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iBasis CEO to Discuss Company's Progress in Retail Services at Mass. Telecom Council Investors Conference

Addition of Retail Prepaid Calling Cards, Plans for eCommerce Business Move Company Closer to Consumer, Increase Retail Margins

BURLINGTON, MA— May 19, 2004 —- - iBasis, Inc. (OTCBB: IBAS), the leader in Internet-based voice communications, today announced that company President and CEO Ofer Gneezy will discuss the Company's recent expansion into retail communications services as well as its continued growth in wholesale Voice over Internet Protocol (VoIP). Mr. Gneezy's presentation will take place at the Massachusetts Telecommunications Council's annual Investors Conference in Boston on Friday, May 21. In his remarks, Mr. Gneezy plans to highlight the Company's retail business initiatives, including the prepaid calling card business launched in 2003, and its plans for future eCommerce-based services. In addition, Mr. Gneezy will discuss the characteristics that have enabled iBasis to achieve a leadership position in international VoIP and that position the company for continued growth and market leadership. A copy of Mr. Gneezy's presentation will be available on the iBasis investor relations web site beginning on Friday, May 21, concurrent with the Investors Conference.

"Recently, we have leveraged the same network and back office assets that are at the core of our wholesale business to expand into retail international services, which enable us to capture the higher margins that come from being closer to the end consumer," said Gneezy. "More than one-third of all international voice traffic flows through wholesale carriers like iBasis. This continues to be a growing business for us, and one in which we excel, as demonstrated by our top ranking in the ATLANTIC-ACM International Wholesale Carriers Report Card for each of the last three years. The combination of high quality service, low-cost VoIP infrastructure, and proven operational excellence is enabling us to become one of the premier carriers of international phone calls."

About the Massachusetts Telecommunications Council Investors Conference

The Massachusetts Telecommunications Council's Eleventh Annual MTC Investors Conference on May 21, 2004 at the Sheraton Boston Hotel is one of the region's key technology events and provides a unique forum for investors, analysts, industry decision-makers and the media to get current information about a select group of the Commonwealth's top telecommunications companies. Presentations are made throughout the day by CEOs and CFOs from 40 telecommunications and networking companies. For a complete listing of participating companies and registration information, visit the MTC website at www.masstel.org.

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.