New Pingo RateWatcher Reduces Rates on Phone Calls to Latin America by...

New Pingo RateWatcher Reduces Rates on Phone Calls to Latin America by as Much as 20%; New Feature Saves Pingo Users from Task of Comparing Prepaid Calling Card Rates



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Burlington, MA–(HISPANIC PR WIRE – BUSINESS WIRE)–January 27, 2005–Pingo(R), the web-based prepaid calling service from iBasis, today announced rate reductions of up to 20% on calls from the U.S. to Latin American countries. The reduced rates are the result of RateWatcher(TM) a new Pingo feature that ensures low international calling rates. Pingo Calling Cards are sold directly to consumers via the http://www.pingo.com website. RateWatcher, strengthens Pingo’s position as “the last calling card you’ll ever need(TM)” by actively monitoring changing long distance costs around the world to provide low international calling rates while saving Pingo subscribers from the chore of having to compare rates from a multitude of prepaid calling card offerings.

With RateWatcher, Pingo customers benefit from the worldwide buying power of iBasis, one of the ten largest carriers of international phone calls in the world. iBasis has proven it’s ability to deliver high quality service and cost savings to its customers through the technological superiority of it’s own global VoIP network and an annual run-rate of more than five billion minutes.

RateWatcher Reduces Pingo Rates to Latin America

With the implementation of RateWatcher, effective immediately, Pingo has aggressively reduced its rates on calls to many Latin American and South American countries by an average of 5- 20%. The new rates begin as low as 3.2 cents per minute to Buenos Aires, Argentina.

Other countries with substantial rate drops include El Salvador, Ecuador, Guatemala, Bolivia, Columbia, Brazil, Mexico, and The Dominican Republic.

“Pingo customers enjoy a significant advantage over subscribers to other prepaid services,” said Ed Weisberg, vice president of eCommerce and Pingo at iBasis. “Unlike most competitive services, we own our network, and already carry a very high volume of traffic from our wholesale carrier customers. This gives us the leverage and the resources to be very effective in finding opportunities to pass savings along to Pingo customers, and reinforces Pingo’s position as ‘the last calling card you’ll ever need.'”

About Pingo and iBasis

Launched in September 2004, Pingo offers consumers high quality international calling services on a prepaid basis. Pingo customers save on calls to and from both landline and mobile phones. Mobile phones users in particular can benefit from Pingo’s domestic toll-free access and lower rates on international calls. Minutes can be purchased using credit cards and debit cards at http://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 leverages the global VoIP network of iBasis, a leading wholesale carrier of international long distance telephone calls and a provider of retail prepaid calling services and one of the ten largest carriers of international calls in the world. iBasis customers include many of the largest telecommunications carriers in the world, including AT&T, Cable & Wireless, China Mobile, China Unicom, MCI, Sprint, Telefonica, Telenor, and Telstra. Founded in 1996, iBasis (OTCBB: IBAS) can be found at its worldwide headquarters in Burlington, Massachusetts, USA at 781-505-7500 or on the Internet at http://www.ibasis.com.

Assured Quality Routing, iBasis, and Pingo are registered marks, DirectVoIP,The iBasis Network, PremiumCertified, Retail Quality Index, Internet Central Office, and Internet Branch Office are trademarks of iBasis, Inc. Cisco and Cisco Powered are registered trademarks of Cisco Systems, Inc. All other trademarks are the property of their respective owners.

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CONTACT:

iBasis, Inc.

Media:

Chris Ward, 781-505-7557

or

iBasis, Inc.

Investors:

Richard Tennant, 781-505-7409

New Pingo RateWatcher Reduces Rates on Phone Calls to Latin America by as Much as 20%; New Feature Saves Pingo Users from Task of Comparing Prepaid Calling Card Rates