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iBasis Regains NASDAQ Listing

Company Returns to NASDAQ National Market under IBAS Symbol Effective June 21, 2006

BURLINGTON, MA— June 19, 2006 — iBasis, the global VoIP company™, announced today that its application for listing of its common stock on The NASDAQ National Market has been approved and iBasis common stock will begin trading on The NASDAQ National Market on Wednesday, June 21, 2006. At that time, the stock will return to its original stock symbol, IBAS. iBasis stock has been trading on the Over-the-Counter Bulletin Board under the symbol IBSE since the Company implemented a reverse stock split on May 3, 2006. The Company's common stock will continue to trade as IBSE on the OTCBB through the close of the market on Tuesday, June 20, 2006.

"Our return to the NASDAQ market is an important validation of our achievements over the last several years, including the elimination of our long-term debt and our continued strong growth in revenue, gross profit, and net income," said Ofer Gneezy, president and CEO of iBasis. "We believe that listing on the NASDAQ National Market will enable us to attract more institutional investors and analyst coverage to the benefit of all iBasis stockholders."

Closing Bell Ceremony
In celebration of its return to the NASDAQ, iBasis executives will ring the closing bell on the NASDAQ exchange on July 11.

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, including AT&T, Cable & Wireless, China Mobile, China Unicom, MCI, Sprint, Skype, and Telefonica. iBasis carried 7.8 billion minutes of international voice over IP (VoIP) traffic in 2005, 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 ATLANTIC-ACM International Wholesale Carrier Report Card—2002, 2003, & 2004.

iBasis and Pingo are registered marks, and the global VoIP company is a trademark of iBasis, Inc. All other trademarks are the property of their respective owners.

Except for historical information, all of the expectations, plans and assumptions contained in the foregoing press release constitute forward-looking statements under Section 21E of the Securities Exchange Act of 1934 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 Company's ability to execute its business plan; (ii) the extent of adoption of the Company's services and the timing and amount of revenue and gross profit generated by these services; (iii) fluctuations in the market for and pricing of these services; and (iv) 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. Such forward-looking statements are only as of the date they are made, and we have no current intention to update any forward-looking statements.