New Pingo Prepaid Phone Card Service Launches with Free Million Minute Giveaway

New Pingo Prepaid Phone Card Service Launches with Free Million Minute Giveaway

Web-based Calling Card Service Offers Consumers Rechargeable, Low-cost International Calling Service from Leading VoIP Carrier


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Burlington, MA–(HISPANIC PR WIRE – BUSINESS WIRE)–September 15, 2004–iBasis, Inc. (OTCBB: IBAS), a leading provider of international long distance service, VoIP, and prepaid calling cards, today announced the launch of Pingo(TM), a prepaid calling card service offered directly to consumers over the Internet at http://www.pingo.com. To celebrate the launch, Pingo is giving away one million minutes of free calling to more than 50 destinations, including Argentina, Brazil, China, Mexico, Russia, and the United Kingdom.

Pingo calling card customers in the United States use credit cards to purchase calling time over the iBasis network, which provides international long distance phone service to more than 100 countries. The Pingo phone card service utilizes the same global VoIP infrastructure iBasis uses to provide high quality international long distance service to its wholesale carrier customers.

“Almost 40% of international phone calls from the U.S. are placed using prepaid calling card services today,” said Ofer Gneezy, president and CEO of iBasis. “Pingo provides consumers the savings of a discount calling card, with the greater convenience of automatic recharge and caller recognition, plus bonus rewards and reliable quality. Pingo offers a very attractive alternative for those whose needs are no longer being met by large incumbent carriers such as AT&T, MCI, and Sprint who are scaling back or eliminating consumer services from their ongoing marketing.”

Million Minute Giveaway

Pingo is celebrating its launch by giving away one million minutes of free long distance calling to more than 50 destinations around the world. Once Pingo customers exhaust the pool of free minutes, calls will be charged at the normal low Pingo rates. Included in the Million Minute Giveaway are destinations in many of the most frequently called countries, such as Argentina, Brazil, China, Mexico, Russia, and the United Kingdom.

Pingo Features

Pingo is designed to provide the savings of discount calling cards with added convenience features and the reliable quality of one of the world’s largest international carriers, iBasis. Pingo calling card customers select an amount to be charged to their credit card and are provided with a toll-free access number, account number and Personal Identification Number (PIN). As they use the service to place long distance calls, their account is debited according to the current per-minute Pingo rate. The only fees Pingo charges are a 98 cents per month account maintenance fee and a surcharge for calls placed from a pay phone (which all carriers charge). Other Pingo features include:

— PINpass(TM) — enables Pingo customers to by-pass having to enter their account number and PIN. Pingo users simply register the phone numbers of the fixed line, mobile, home and office phones they use most frequently, and using ANI recognition, Pingo will automatically “recognize” them;

— Auto-recharge – ensures continuous service by automatically refilling the users prepaid account when the balance reaches a minimum threshold. Customers set the recharge amount and a limit on the number of times per month their account can be recharged;

— Online Call History and Billing Reports – provide current views of the Pingo customers usage and account transactions; and

— Refer-a-Friend- promotes efficient word-of-mouth marketing by rewarding Pingo customers for referrals that become new Pingo customers.

About Pingo iBasis

Pingo is a service of iBasis. Founded in 1996, iBasis (OTCBB: IBAS) is a leading wholesale carrier of international long distance telephone calls and a provider of retail international prepaid calling cards sold through major distributors. iBasis customers include many of the largest telecommunications carriers in the world, including AT&T, Cable & Wireless, China Mobile, China Unicom, MCI, Sprint, and Telefonica. The company’s prepaid calling cards are sold through retail stores in major metropolitan markets throughout the U.S. iBasis is one of the ten largest carriers of international voice traffic in the world. For three consecutive years service providers have named the company as the best international wholesale carrier in ATLANTIC-ACM’s annual International Wholesale Carrier Report Card. iBasis was also ranked the #1 fastest-growing technology company in New England in the 2002 and 2003 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 http://www.ibasis.com.

Assured Quality Routing and iBasis are registered marks, Pingo, PINpass, DirectVoIP, The iBasis Network, 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.

–30–AS/bo*

CONTACT:

iBasis, Inc.

Media:

Chris Ward

781-505-7557

or

Investors:

Richard Tennant

781-505-7409

New Pingo Prepaid Phone Card Service Launches with Free Million Minute Giveaway