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iBasis CEO to Discuss Trends Continuing to Drive VoIP Growth at 7th Annual Needham & Co. Growth Conference

BURLINGTON, MA— January 5, 2005 — iBasis, Inc. (OTCBB: IBAS), a leader in international long distance, VoIP, and prepaid calling services, today announced that company President and CEO Ofer Gneezy will discuss the major trends in international telecommunications that are helping to drive growth in wholesale and retail VoIP services. Mr. Gneezy's presentation will take place at the 7th Annual Needham & Co. Growth Conference in New York on Friday, January 14, 2005. A webcast of the presentation will be accessible from the iBasis investor relations site at www.ibasis.com shortly after the completion of the live presentation.

Mr. Gneezy will focus on the factors that position iBasis to be a preferred international carrier for the fast-growing voice over broadband (VoBB) market comprising a variety of service providers ranging from AT&T and Verizon, to Skype and Yahoo BB.

About the Needham & Co. Growth Conference

The Conference will take place at the New York Palace Hotel January 10 - 14. Mr. Gneezy's presentation is scheduled to begin at 9:30 a.m. on Friday, January 14. For more information or to register for the conference, visit the Needham & Co. web site at www.needhamco.com.

About iBasis

Founded in 1996, iBasis (OTCBB: IBAS) is a leading wholesale carrier of international long distance telephone calls and a provider of retail prepaid calling services, including the Pingo™ (www.pingo.com) web-based offering and disposable calling cards, which are sold through major distributors and available at retail stores throughout the U.S. iBasis customers include many of the largest telecommunications carriers in the world, including AT&T, Cable & Wireless, China Mobile, China Unicom, MCI, Sprint, Telefonica, Telenor, and Telstra. iBasis has carried more than ten billion minutes of international VoIP traffic over its global Cisco Powered™ network, and is one of the ten largest carriers of international voice traffic in the world1. For three consecutive years service providers have named the Company as the best international wholesale carrier in ATLANTIC-ACM's annual International Wholesale Carrier Report Card2. iBasis was also ranked the #1 fastest-growing technology company in New England in the 2002 and 2003 Technology Fast 50 programs 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.

Assured Quality Routing, ConnectPoint, and iBasis are registered marks, Pingo, DirectVoIP, The iBasis Network, Internet Central Office, Internet Branch Office, and IP CallCard are trademarks of iBasis, Inc. Cisco and Cisco Powered are registered trademarks of Cisco Systems, Inc. All other trademarks are the property of their respective owners.

   
 
 
     

 

 
 

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

2 ATLANTIC-ACM International Wholesale Carrier Report Card—2002, 2003, & 2004.

Assured Quality Routing and iBasis are registered marks, DirectVoIP and The iBasis Network 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, profitability, future capital expenditures, and cash flows 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 and margin 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 the Company's 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.

Use of Non-GAAP Financial Data
The Company provides certain financial data in addition to providing financial results in accordance with GAAP. This data is not in accordance with, or an alternative to GAAP, and may be different from Non-GAAP financial data used by other companies. This Non-GAAP financial data includes average revenue per minute, which the Company believes provides useful information, to both its management and investors about the Company's current performance.