iBasis Reports First Quarter 2008 Results

Business Wire, April 28, 2008

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, KPN Mobile, E-Plus, BASE, and many other large telecommunications carriers such as 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 approximately 24 billion minutes of international voice traffic in 2007. 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.

(1) Telegeography 2008 and iBasis pro forma 2007 traffic.

iBasis and Pingo are registered marks, and The iBasis Network 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, any forward statements implied by our pro forma results, as well as forward-looking statements regarding: (i) our belief that recent declines in the wholesale telecommunications market generally are temporary, that we will resume growth overall and in particular from the addition of traffic resulting from our transaction with TDC and that we expect the TDC agreement to generate approximately $80 million in annual revenue; (ii) the synergies from the KPN transaction that we expect to realize in two to three years, including those in LCR, transmission, and operating expenses; (iii) the expected growth from cross-selling and more transparent pricing in our Retail business; (iv) our expectation that we will be able to take advantage the consolidation trends in the international voice industry; and (v) our expected 2008 Adjusted EBITDA and capital asset expenditures. 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,(ii) the ability to realize anticipated synergies,(iii) the emergence of new competitive initiatives resulting from rapid technological advances, (iv) changes in business conditions and volatility and uncertainty in the markets that the Company serves; (v) the Company's ability to execute its business plan;(vi) the extent of adoption of the Company's services and the timing and amount of revenue and gross profit generated by these services; (vii) fluctuations in the market for and pricing of these services; and (viii) 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.