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The acquisitionwill increase the number of PremierWest's California branches to 24 and totalbranches to 48. Additionally the acquisition will increase PremierWest'sCalifornia deposits to more than $800 millon and total bank deposits to almost$1.6 billion.James M. Ford continued, "We are delighted to welcome our new customers in Davisand Grass Valley and see this acquisition as a great opportunity to expand thescope of our operations in the greater Sacramento area. The acquisition addssignificantly to our core deposit base while substantially increasing ourliquidity. MEDFORD, Ore., July 21, 2009 (GLOBE NEWSWIRE) -- James M. Ford, President andChief Executive Officer of PremierWest Bancorp (Nasdaq:PRWT), announced todaythe completion of the acquisition of two Wachovia Bank, N.A.

branches in Davisand Grass Valley, California from Wells Fargo Bank. Wells Fargo & Companyacquired Wachovia Corporation on December 31, 2008.At closing, the acquisition encompassed approximately $338 million in deposits,$1 million in consumer loans, as well as certain fixed assets. All other trademarks are theproperty of their respective owners. Media:iBasis, Inc.Chris Ward, 781-505-7557Investors:iBasis, Inc.Richard Tennant, orJoele Frank, Wilkinson Brimmer KatcherMatthew Sherman / Jeremy Jacobs, 212-355-4449 Copyright Business Wire 2009. Shareholders may obtain, free of charge, a copy of theSolicitation/Recommendation Statement on Schedule 14D-9 (when it becomesavailable), as well as any other documents filed by iBasis with the SEC at theSEC`s website at http:// or by directing a request to Innisfree M&AIncorporated at 888-750-5834 iBasis is a registered mark of iBasis, Inc. The Company can be reached atits worldwide headquarters in Burlington, Mass., USA at +1 781-505-7500 or onthe Internet at Important InformationThe tender offer proposed by KPN referred to in this release has not commenced.If and when commenced, iBasis will file with the Securities and ExchangeCommission ("SEC") a Solicitation/Recommendation Statement on Schedule 14D-9.iBasis shareholders are advised to read iBasis` Solicitation/RecommendationStatement on Schedule 14D-9 when it is available because it will containimportant information. In October 2007,iBasis acquired KPN Global Carrier Services to create one of the three largestcarriers of international voice traffic in the world (2), and KPN became amajority stockholder of iBasis.

The company carried approximately 24 billionminutes of international voice traffic in 2008. to serve as itsindependent financial advisor and Gibson, Dunn & Crutcher LLP as its independentlegal advisor. About iBasisFounded in 1996, iBasis (NASDAQ: IBAS) is a leading wholesale carrier ofinternational long distance telephone calls and a provider of retail prepaidcalling services and enhanced services for mobile operators. iBasis customersinclude KPN, KPN Mobile, E-Plus, BASE, TDC and many other largetelecommunications carriers such as Verizon, Vodafone, China Mobile, ChinaUnicom, IDT, Qwest, Skype, Telecom Italia, and Telefonica.