iBasis Enables Consumers to 'Pingo the Planet for Pennies' by Dropping Long Distance Rates on VoIP Calling Service

Calls to More than 75 Countries Now 3¢ or Less per Minute Using Pingo® Prepaid Calling Service's Local Access Numbers

BURLINGTON, MA — May 30, 2006 — iBasis, the global VoIP company™, today announced that Pingo (www.pingo.com), its online prepaid calling card service, has reduced long distance calling rates by as much as 30%. Now, Pingo customers using the service's local access numbers in the U.S. can call more than 75 countries for 3¢ or less per minute.

"Pingo's RateWatcher™ promise is to continually look for ways to add value for our Pingo customers so that Pingo really is the last calling card they'll ever need," said Ofer Gneezy, president and CEO of iBasis. "This time, we're leveraging local access numbers across the U.S. to lower our costs, and we're passing that savings on to our customers so they can Pingo the world for less."

Pingo's local access numbers are available in more than 800 communities in 38 states plus the District of Columbia. By using local access, Pingo customers can save an additional one cent per minute off the already low Pingo rates for long distance calls. Whenever a local access number is not available, Pingo customers can always rely on toll-free numbers, which are available in 35 countries, including the U.S., Canada, and the U.K. The full list of U.S. local access numbers and international toll-free access numbers are available on the Pingo website.

About Pingo Taking advantage of iBasis' global VoIP network, Pingo enables consumers to realize the cost-savings of VoIP or Internet telephony from their regular fixed or mobile phones, without requiring any additional hardware or software downloads. Pingo offers consumers in 35 countries high quality long distance service on a prepaid basis, along with many convenient usability features. Pingo customers save on calls to and from both landline and mobile phones. Mobile phone users in particular can save as much as 90% on international calls by using Pingo's toll-free access and lower rates on international calls. Minutes can be purchased using credit cards and PayPal at www.pingo.com. New customers begin saving immediately with a sign-up bonus of $5 worth of free calling and can receive additional $5 credits by successfully referring their friends to the Pingo service. Pingo can also be used to save on calls from 34 countries outside the U.S., including Canada, Japan, Germany, Mexico, Russia, and the U.K.

About iBasis Founded in 1996, iBasis (OTCBB: IBSE) 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, Verizon, Sprint, Skype, Yahoo, and Telefonica. For four consecutive years service providers named iBasis the best international wholesale carrier in ATLANTIC-ACM's annual International Wholesale Carrier Report Card . 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.