iBasis Reduces Pakistan Prepaid Calling Rates For Its Pingo® Prepaid Service Customers

RateWatcher™ Reduces Rates by 30 Percent, New Subscribers Offered One Hundred Free Minutes of Calling to Pakistan

BURLINGTON, Massachusetts – 03/10/2008 – Pingo (www.pingo.com), the online calling service from iBasis (NASDAQ: IBAS), today reduced the cost to call Pakistan by more than 30 percent. The lower Pakistan prepaid calling card rate is enabled by RateWatcher, a Pingo feature that actively searches for opportunities to reduce costs for customers. Pingo has also announced that new subscribers can receive one hundred free minutes of calling to Pakistan by registering through the www.pingopakistan.com page, which also contains additional information on the offering.

iBasis is one of the top three carriers of international phone calls in the world, resulting in a buying power that enables Pingo to consistently deliver extremely competitive rates. Customers save on calls to both landline and mobile phones in almost every country, with mobile phone users saving as much as 90 percent on international calling.

Pingo offers high-quality, low-cost international and long distance calling on a prepaid basis without any long term contractual obligation. The service can be used with both fixed-line and mobile phones and no additional equipment purchases or software downloads are required. Pingo minutes can be easily purchased online with credit/debit cards and PayPal. Subscribers can make payments in four currencies, compare rates in more than 38 other currencies, and interact with a Pingo website that includes automated voice prompts in five languages.

Pingo is designed with ease-of-use in mind and offers a host of convenient features. Accounts can be set-up to automatically recharge at a predetermined balance, or, an interactive voice response system can be used to alert customers of a low balance, allowing funds to be replenished with the simple push of the * key. Once mobile and/or fixed-line phones have been registered online, enhanced speed dialing enables customers to call a local Pingo access number and press a designated speed-dial number for fast and easy connection to calling destinations. Other features include PIN-less dialing, on-line call history reporting, a Refer-a-Friend program that offers a $5 bonus for each customer referral that joins Pingo and more.

iBasis also recently launched a version of Pingo with advanced features designed for enterprises. PingoBusiness provides small-to-medium size businesses (SMBs) the same low international calling rates, plus easy-to-use administrative features for managing up to 999 individual employee accounts on an “on demand” basis without long-term contracts. Through PingoBusiness, SMB employees can use company phones, as well as their own fixed-line and mobile phones to achieve up to 90 percent cost savings on international calling. The service offers the same convenience features as Pingo with additional functionality to help SMBs exercise better control over international calling expenditures. This includes the ability for administrators to set individual spending limits and easily monitor usage and manage account balances through a single, centralized account.

“Pingo leverages the scale and efficiency of the iBasis global VoIP network to bring consumers and SMBs low cost, high quality international and long distance calling, supported by convenient features and the ability to use existing fixed and mobile phones without additional equipment,” said Jayesh Patel, vice president of business development and strategy for iBasis. “Furthermore, there are no extended contracts; subscribers simply place funds in an account, register their phones, and in minutes they can begin taking advantage of our low rates. Pingo is easy, reliable, flexible, and the most effective option available for defraying international calling costs.”

About Pingo

Taking advantage of The iBasis Network, Pingo enables consumers to realize the cost-savings of VoIP or Internet telephony from regular fixed or mobile phones without any need for additional hardware or software. Pingo offers consumers high-quality long distance service on a prepaid basis, along with a host of convenient usability features. Pingo customers save on calls to both landline and mobile phones in almost every country. Mobile phone users in particular can save as much as 90 percent on international calls by using Pingo’s toll-free access and lower rates. Pingo minutes can be purchased with credit and debit cards, as well as PayPal, at www.pingo.com. Customers can access Pingo from toll-free and local access numbers in 35 countries, including the U.S., Australia, Canada, China, the U.K., France, Germany, Israel, Japan, Russia, and Thailand.

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 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 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 atwww.ibasis.com.