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iBasis CEO Ofer Gneezy Named "Business Leader Of The Year" By Capacity Magazine

Gneezy and iBasis Recognized for 'Showing the Way Forward' with Innovative Wholesale Outsourcing Model

BURLINGTON, Massachusetts & AMSTERDAM, Netherlands - November 15, 2007 iBasis, Inc. (NASDAQ: IBAS), the global VoIP company, today announced that company President and CEO, Ofer Gneezy, was named "Business Leader of the Year" by Capacity Magazine, a widely respected trade magazine for the telecommunications and service provider industry. The annual Global Wholesale Awards were announced during Capacity Europe 2007, held this week in Amsterdam. The awards are judged by a panel including the magazine's editors, leading telecom industry analysts and consultants from, Yankee Group, ATLANTIC-ACM, Paul Budde Communication and the Arab Advisors Group.

"Gneezy was selected as Best Business Leader by Capacity magazine at the 2007 awards because of his thought leadership and development of an innovative wholesale outsourcing solution," said Mark Kemp, CEO and editor-in-chief of Capacity. "His vision of a new wholesale model has created opportunities in the market and shown the way forward in the area of outsourcing voice traffic. Over the past eleven years, Gneezy has built iBasis into a compelling example of innovation in the wholesale telecoms market."

The honor comes in the wake of iBasis' acquisition of the international wholesale voice business of Royal KPN N.V., the national carrier of the Netherlands, completed on October 1, 2007. The combination makes iBasis one of the three largest carriers of international voice traffic in the world (1) and the first IP-based carrier to break into Telecom's Top Three. The news has widely been regarded by analysts as a major event in an industry-wide migration to the Internet as a preferred communications platform. Gneezy, along with co-founder and Executive VP Gordon VanderBrug, began the company in the basement of Gneezy's home in 1996. Today, according to combined pro forma 2006 figures, iBasis has annual revenues of $1.3 billion and carries more than 20 billion minutes of international voice traffic. The company has experienced 42 percent compound annual traffic growth rate for the past five years.

"Due in great part to Ofer's leadership, iBasis has proven that high volume, high quality voice over the Internet is possible, and we have leveraged that to achieve a combination of scale and efficiency that positions us extraordinarily well to benefit from further consolidation of the international telecommunications industry," said Gordon VanderBrug, executive vice president and co-founder of iBasis.

About iBasis

Founded in 1996, iBasis (NASDAQ: IBAS) is a leading wholesale carrier of international long distance telephone calls and a provider of retail prepaid calling services and enhanced services for mobile operators. iBasis customers include KPN and its retail brands KPN Mobile, E-plus, and BASE, and many other large telecommunications carriers such as AT&T, Verizon, Vodafone, China Mobile, China Unicom, IDT, Qwest, Skype, Telecom Italia, Telefonica, and Yahoo. In October 2007, iBasis acquired KPN Global Carrier Services to create one of the three largest carriers of international voice traffic in the world, and KPN became a majority stockholder of iBasis. On a pro forma basis, the combined company carried more than 20 billion minutes of international voice over IP (VoIP) traffic in 2006. The Company can be reached at its worldwide headquarters in Burlington, Mass., USA at +1 781-505-7500 or on the Internet at www.ibasis.com.

About Capacity Magazine

Capacity Magazine is the only monthly publication that focuses on the latest business techniques and strategies for bringing innovation and efficiency to the wholesale telecommunications industry. The publication brings together operators, carriers, service providers, metro-fiber providers, system integrators, equipment providers, OSS providers and end users. Capacity Magazine is a must-read for all companies striving to maintain competitive advantage and achieve optimal business performance within the telecommunications community. For further information please see http://www.capacitymedia.com.



1 Based on Telegeography 2007 and iBasis and KPN Global Carrier Services pro forma 2006 traffic.

iBasis is a registered mark, 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. Examples of forward-looking statements include, but are not limited to, statements describing the effects of the combination of iBasis and KPN in the industry, the expected geographic coverage of the combined business, the consolidating nature of the international voice market and iBasis' ability, to increase business activities and market presence, while lowering costs. Important factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to,(i) the ability of the Company to successfully integrate the operations and employees of KPN Global Carrier Services, the ability to realize anticipated synergies, the emergence of new competitive initiatives resulting from rapid technological advances or changes in pricing in the market, business conditions and volatility and uncertainty in the markets that the Company serves; (ii) the Company's ability to execute its business plan; (iii) the extent of adoption of the Company's services and the timing and amount of revenue and gross profit generated by these services; (iv) fluctuations in the market for and pricing of these services; and (v) the other factors described in the Company's most recent Annual Report on Form 10-K and other periodic and current reports, all of which are available at www.sec.gov. 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.