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Independent Ratings of Major Wholesale Carriers Places VoIP Leader Ahead of AT&T, MCI, Sprint, Deutsche Telekom, Teleglobe

Burlington — May 24, 2005 — iBasis, Inc., a leader in international long distance, VoIP, and prepaid calling cards, today announced that rankings by carriers place the company as the world's best international wholesale carrier overall for the fourth year in a row in ATLANTIC-ACM's annual carrier study. The study, Global Wholesale Long Distance 2005-2009: Carrier Report Card, evaluates the performance of wholesale carriers based on ratings by their resale customers. It is the seventh edition of the principal wholesale benchmarking tool for the competitive long distance industry.

The annual survey ranks the world's leading international wholesale carriers based on the opinions of carriers who use them. The 2005 edition compiled individual ratings for customer service, provisioning, network quality, pricing, products, billing, and sales representatives across many of the world's largest carriers, including AT&T, MCI, Sprint, Deutsche Telekom, France Telecom, and Teleglobe. iBasis was ranked #1 in five of the seven voice categories in the study - Billing, Provisioning, Customer Service, Voice Products, and Sales Representatives.

iBasis has also been awarded an Atlantic-ACM Seal of Excellence based on its' performance in the 2005 benchmarking study. "We are proud to have retained the top ranking overall for four consecutive years, particularly as it comes from our customers," said Ofer Gneezy, president and CEO of iBasis. "It is also very gratifying for iBasis employees, who have maintained their focus on quality and continuous improvement. While many others are retreating from the wholesale business today, we are gaining market share and leveraging our superior back office capabilities to capitalize on the major trends that are driving our tremendous growth."

About ATLANTIC-ACM

Boston-based ATLANTIC-ACM is a leading provider of strategic research and consulting services serving the telecommunications and information industries. The company assists clients in evaluating telecommunications opportunities for successful investment, market entry, and long-term planning. For more information, visit ATLANTIC-ACM's website at www.atlantic-acm.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™ web-based offering (www.pingo.com) 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, Skype, and Telefonica. iBasis carried approximately 5 billion minutes of international voice over IP (VoIP) traffic in 2004, and is one of the ten largest carriers of international voice traffic in the world1. For four consecutive years service providers named iBasis the best international wholesale carrier in ATLANTIC-ACM's annual International Wholesale Carrier Report Card2. iBasis was also ranked among the fastest-growing technology companies in New England in the 2002, 2003, and 2004 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.

   
 
 
     

 

 


1 Telegeography 2005 data compared with iBasis 2004 traffic volume.

2 ATLANTIC-ACM International Wholesale Carrier Report Card - 2002, 2003, 2004, & 2005.

Assured Quality Routing and iBasis are registered marks, Pingo, DirectVoIP, and The iBasis Network are trademarks of iBasis, 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.