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Pingo Reduces its Cheap Long Distance Calling Card Rates by a Penny (May 31st, 2006)





Calls to More than 75 Countries Now 3 cents or Less per Minute Using Pingo(R) Prepaid Calling Service's Local Access Numbers

iBasis, the global VoIP company(TM), today announced that Pingo (http://www.pingo.com), its online prepaid calling card service, has reduced long distance calling rates by as much as 30%. Now, Pingo customers using the service's local access numbers in the U.S. can call more than 75 countries for 3 cents or less per minute.

"Pingo's RateWatcher(TM) promise is to continually look for ways to add value for our Pingo customers so that Pingo really is the last calling card they'll ever need," said Ofer Gneezy, president and CEO of iBasis. "This time, we're leveraging local access numbers across the U.S. to lower our costs, and we're passing that savings on to our customers so they can Pingo the world for less."
Pingo's local access numbers are available in more than 800 communities in 38 states plus the District of Columbia. By using local access, Pingo customers can save an additional one cent per minute off the already low Pingo rates for long distance calls. Whenever a local access number is not available, Pingo customers can always rely on toll-free numbers, which are available in 35 countries, including the U.S., Canada, and the U.K. The full list of U.S. local access numbers and international toll-free access numbers are available on the Pingo website.

About Pingo

Taking advantage of iBasis' global VoIP network, Pingo enables consumers to realize the cost-savings of VoIP or Internet telephony from their regular fixed or mobile phones, without requiring any additional hardware or software downloads. Pingo offers consumers in 35 countries high quality long distance service on a prepaid basis, along with many convenient usability features. Pingo customers save on calls to and from both landline and mobile phones. Mobile phone users in particular can save as much as 90% on international calls by using Pingo's toll-free access and lower rates on international calls. Minutes can be purchased using credit cards and PayPal at 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 can also be used to save on calls from 34 countries outside the U.S., including Canada, Japan, Germany, Mexico, Russia, and the U.K.

About iBasis

Founded in 1996, iBasis (OTCBB: IBSE - News) is a leading wholesale carrier of international long distance telephone calls and a provider of retail prepaid calling services, including the Pingo® web-based offering (www.pingo.com) and disposable calling cards, which are sold through major distributors and available at retail stores throughout the U.S. iBasis customers include many of the largest telecommunications carriers in the world, including AT&T, Cable & Wireless, China Mobile, China Unicom, Verizon, Sprint, Skype, Yahoo, and Telefonica. iBasis carried approximately 8 billion minutes of international voice over IP (VoIP) traffic in 2005, and is one of the largest carriers of international voice traffic in the world. For four consecutive years service providers named iBasis the best international wholesale carrier in ATLANTIC-ACM's annual International Wholesale Carrier Report Card(1).

The Company can be reached at its worldwide headquarters in Burlington, Massachusetts, USA at 781-505-7500 or on the Internet at www.ibasis.com.

iBasis and Pingo are registered marks; the last calling card you'll ever need, RateWatcher, and the global VoIP Company are trademarks 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. Important factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, (i) the Company's ability to execute its business plan; (ii) the Company's ability to meet the listing requirements of NASDAQ, (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 considerations described as "Risk Factors" in the Company's most recent Forms 10-K and 10-Q, and the Company's other SEC filings. 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.

(1) ATLANTIC-ACM International Wholesale Carrier Report Card - 2002, 2003, 2004, & 2005.

Contact:
iBasis, Inc.
Media:
Chris Ward, 781-505-7557
cward@ibasis.net
or
Investors:
Richard Tennant, 781-505-7409
ir@ibasis.net
________________________________________
Source: iBasis, Inc.


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