TMCnet News
iBasis Named International Voice over IP Carrier for Cyprus Telecom Retail Service BURLINGTON, Mass. --(Business Wire)-- July 6, 2004 -- New Service Brings Innovation and Savings to Consumers in CyprusiBasis, Inc. (OTCBB: IBAS), a leading provider of international long distance service and prepaid calling cards, today announced that Cyprus Telecom (CYTA), the national carrier of Cyprus, has named iBasis as the international VoIP carrier for its new retail international long distance service. The new service allows consumers to dial a four-digit number to select CYTA's new service independent of the consumer's existing long distance carrier. Through a direct interconnection with iBasis, international calls generated by the service will be carried over the iBasis global VoIP network to their destination. CYTA is one of more than 250 carriers worldwide who have formed relationships with iBasis to send and receive international long distance calls over the company's Cisco Powered Network, which has carried more than nine billion minutes of international long distance calls. By providing Tier One quality international service to these carriers, iBasis has become one of the world's 10 largest carriers of international traffic(1) and was recently ranked by global service providers as the world's best international wholesale carrier for the third consecutive year(2). "Retail service providers like CYTA are rapidly embracing the efficiency of the iBasis Network, for the cost savings of VoIP technology and the operational efficiencies of our global wholesale telecommunications model," said Ofer Gneezy, president and CEO of iBasis. About CYTA CYTA is a corporate body established in 1961 and was until recently the sole provider of telecommunication networks and services in Cyprus. It has approximately 2,400 employees and is one of the largest employers in Cyprus. CYTA offers the entire spectrum of telecommunications services, including mobile and fixed telephony, broadband and satellite communications. CYTA also offers a service of cable TV over DSL technology. Since the late 1990s, CYTA has become a telecommunications hub in the eastern Mediterranean and Middle East region, mainly due to the strength of its international network and the superb regional and international connectivity it offers. CYTA not only offers excellent electronic communication services but also plays a broader role in society, by consciously supporting by various means culture, the environment, sports, education, public health and science and technology. CYTA can be reached at its national headquarters in Nicosia, Cyprus at +357 22701000 or on the Internet at www.cyta.com.cy and www.cytaglobal.com. About 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 ATT, 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 has carried more than nine billion minutes of international voice over IP (VoIP) traffic over its global Cisco Powered Network(TM), and is one of the ten largest carriers of international voice traffic in the world(3). 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(4). 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 www.ibasis.com. Assured Quality Routing, ConnectPoint, and iBasis are registered marks, The iBasis Network, Internet Central Office, Internet Branch Office, and IP CallCard are trademarks of iBasis, Inc. Cisco and Cisco Powered Network are registered trademarks of Cisco Systems, Inc. All other trademarks are the property of their respective owners. Except for historical information, all of the expectations, projections and assumptions contained in the foregoing press release, including those relating to the company's current expectations regarding the proposed debt refinancing, revenue growth, sources of revenue, margin improvement and future capital expenditures constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995 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 actual completion of the proposed debt refinancing, as described in iBasis' recently filed Registration Statement on Form S-4, (ii) the extent of adoption of the company's services and the timing and amount of revenue generated by these services; (iii) fluctuations in the market for and pricing of these services; and (iv) the other considerations described as "Risk Factors" in iBasis' most recent Forms 10-K and 10-Q, and the company's other SEC filings. We have no current intention to update any forward-looking statements. (1) Estimated rank based on 2003 iBasis traffic compared to international traffic volumes for carriers as published in Telegeography 2004. (2) Atlantic-ACM International Wholesale Carrier Report Card 2003 - February 2003 (3) Telegeography 2003 data compared with iBasis annualized Q1 2004 traffic volume. (4) ATLANTIC-ACM International Wholesale Carrier Report Card - 2002, 2003, & 2004 |
