EXHIBIT 99.1

MONDAY JULY 15, 11:11 AM EASTERN TIME

PRESS RELEASE

SOURCE: iBASIS, INC.

iBASIS SELLS SPEECH SOLUTIONS BUSINESS TO CONVERGYS

SALE ENHANCES CASH POSITION AND INCREASES FOCUS ON CORE BUSINESS

BURLINGTON, Mass.--(BUSINESS WIRE)--July 15, 2002--iBasis, Inc., (Nasdaq: IBAS -
News), the leader in Internet-based voice communications, today announced that
it has sold its Speech Solutions business to Convergys Corporation (NYSE: CVG -
News) for $17 million in cash, which was delivered upon closing today, an
additional $1.5 million placed in escrow, and up to $16 million in earn-out
payments that will be awarded upon the achievement of certain milestones. The
earn-out period will conclude at the end of 2003.

In connection with the sale, the company expects to record a loss of
approximately $59 million from discontinued operations in the second quarter
2002. For the second quarter 2002 and all prior quarters, iBasis financial
results will report the Speech Solutions business in a single line item as
discontinued operations.

As a result of the sale and a recent 18% reduction in workforce in the core
Internet telephony business, iBasis has reduced its total workforce to 215
employees.

"These actions have accomplished two important goals: enabling iBasis to focus
exclusively and more efficiently on our core business of wholesale international
telephony, and providing additional cash to run the business," said Ofer Gneezy,
president and CEO of iBasis.

Convergys, the global leader in integrated billing, employee care, and customer
care services, has acquired all of the assets associated with the iBasis Speech
Solutions business, including its data centers, customers, revenue streams,
customer prospects, and approximately 130 employees based in Reston, Virginia.

"Acquiring the Speech Solutions business complements our position as a market
leader in customer management solutions by adding capabilities in advanced
customer self-service application development and hosting," said Jim Orr
chairman, president and CEO of Convergys Corporation.

The Speech Solutions line of business develops and hosts advanced Interactive
Voice Response (IVR) and Advanced Speech Recognition (ASR) solutions for large
carrier and enterprise customers. Based in Reston, Va., Speech Solutions has
approximately 40 customers.

About Convergys Corporation
Convergys Corporation (NYSE: CVG - News), a member of the S&P 500 and the
Forbes' Platinum 400, is the global leader in integrated billing, employee care,
and customer care




services provided through outsourcing or licensing. Convergys serves top
companies in telecommunications, Internet, cable and broadband services,
technology, financial services, and other industries in more than 40 countries.
The company also provides integrated, outsourced, human resource services to
leading companies across a broad range of industries.

Convergys(TM) employs more than 45,000 people in 47 customer contact centers and
in its data centers and other offices in the United States, Canada, Latin
America, Europe, Israel, and Asia. Convergys is on the net at www.convergys.com,
and has world headquarters in Cincinnati, Ohio, USA.

About iBasis
Founded in 1996, iBasis (Nasdaq: IBAS - News) is the leader in Internet-based
voice communications. iBasis delivers toll quality international voice services
to many of the largest carriers in the world, including AT&T, Cable & Wireless,
China Mobile, China Unicom, Concert, Telefonica, Telenor, Telstra, Sprint, and
WorldCom. The iBasis Network is the world's largest international Cisco Powered
Network(TM) for Internet Telephony. 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 is a registered mark and The iBasis Network is a trademark 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 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 extent of adoption of the company's
services and the timing and amount of revenue generated by these services; (ii)
fluctuations in the market for and pricing of these services; and (iii) the
other considerations described as "Risk Factors" in iBasis' Annual Report on
Form 10-K for its fiscal year ended December 31, 2001, and the company's other
SEC filings. We have no current intention to update any forward-looking
statements.

CONTACT:
     iBasis, Inc.
     Media:
     Chris Ward, 781/505-7557
     cward@ibasis.net
     Investors:
     Richard Tennant, 781/505-7409
     ir@ibasis.net
        or
     Convergys
     Media:
     John Pratt, 513/723-3333 or 888/284-9900         john.pratt@convergys.com
     Investors:
     Taylor Greenwald, 513/723-3961 or 888/284-9900
     taylor.greenwald@convergys.com