IDT INTERNET MOBILE GROUP FORMS ZEDGE STUDIOS & ACQUIRES CONTROLLING INTEREST IN IDW PUBLISHING

Newark, NJ, July 24, 2007 – IDT Internet Mobile Group (IMG), a division of IDT Corporation, has formed Zedge Studios to develop and license digital content for distribution through web and mobile platforms.  Additionally, IMG has acquired a controlling interest in IDW Publishing (www.idwpublishing.com), a leading independent comics publisher pre-eminent in the horror, action, and sci-fi genres, boasting such high-profile titles as The Transformers, 30 Days of Night, CSI, Star Trek, 24, and Scarface.

Moshe Berger, formerly CEO of IDT Entertainment, which was sold to Liberty Media in 2006, is now working towards making IDT’s Internet Mobile Group an industry leader. “We have seen the explosion of digital content, especially user-generated content, over a variety of platforms,” said Mr. Berger, IMG CEO and head of Zedge Studios. “This is what the new generation of consumers craves. Our intention is for Zedge Studios to become the worldwide destination for content on the web and on mobile devices. IDW Publishing’s stellar reputation in the comics and graphic novel arenas and its emphasis on original intellectual properties in the action and horror genres are a perfect fit for Zedge Studios.  Working closely with IDW’s brilliant management and creative team will bring us one step closer to achieving our global goal.”

An established leader in the comic book and graphic novel marketplace, IDW Publishing has been named “Publisher of the Year” by Diamond Comic Distributors for the previous three years. In keeping with that honor, IDW maintains a commitment to nurturing original content from its dynamic creative roster.  For instance, Sam Raimi (Spider-Man) and his Ghost House Pictures optioned the rights to 30 Days of Night from IDW Publishing and are producing the live-action feature film adaptation of the original horror work, published by IDW and created by Steve Niles and Ben Templesmith. Columbia Pictures is scheduled to release the film, which stars Josh Hartnett, in October.

“I’m proud of the growth we’ve achieved at IDW over the last eight years and very excited to be working with IDT and IMG’s Zedge Studios to catapult our company into new territories,” said IDW co-founder and CEO Ted Adams. “We look forward to the expanded opportunities that this new business relationship will produce for our existing and future properties.”

In December of 2006, IMG announced its acquisition of Zedge (www.zedge.net), a popular social networking community for mobile users and provider of free mobile content which recently topped the five million member mark.  Zedge Studios will capitalize and build upon that loyal user base by developing, acquiring and financing intellectual property (IP) for distribution over multiple channels, including Zedge.net. The site hosts a wealth of complimentary content and tools for mobile phones, with over 250 million pieces of content already downloaded. Zedgers generate, upload, download, or view and share wallpaper, themes, videos, ringtones, games and other free mobile content. Zedge also hosts a robust social community and its blog, zedgeheadz (http://blog.zedge.net), focuses on the world of mobile content.

About IDW:

IDW Publishing is an established leader in the comic book and graphic novel marketplace, particularly in the horror, action, and sci-fi genres. IDW lists some of the most successful and hottest print titles in the industry among its portfolio, including: television’s #1 prime time series CSI: Crime Scene Investigation, Sony’s Underworld; Paramount’s Star Trek; Fox’s 24; Hasbro’s The Transformers; Universal’s Scarface, Land of the Dead and Shaun of the Dead; and Konami’s Silent Hill, Castlevania, and Metal Gear Solid.  The company also works with foreign licensing agents to sell their comics around the world, with titles being published in multiple languages and crossing dozens of regions.

About IDT Internet Mobile Group/Zedge Studios:

IDT Internet Mobile Group’s (IMG) Zedge Studios develops and licenses original content for distribution through online and mobile platforms. Zedge Studios encompasses Zedge.net, the Norway-based user-generated mobile content and social networking community acquired in December, 2006. IDT Internet Mobile Group is part of IDT Corporation (NYSE: IDT, IDT.C), a multinational company with operations in telecommunications and other industries.

About IDT Corporation

IDT Corporation is an innovative and opportunity seeking multinational company with operations that span various industries. Through its Telecom subsidiary, IDT provides telecommunications services worldwide to the retail and wholesale markets.  IDT’s Capital division incubates newer businesses, and the company’s Spectrum subsidiary holds its spectrum license assets.  IDT Telecom provides retail and wholesale telecommunications services and products, including pre-paid and rechargeable calling cards, consumer local, long distance, and wireless phone services, and wholesale carrier services.  Under the Net2Phone brand name, the company also provides a range of voice over Internet protocol (VoIP) communications services. IDT Capital’s operations include an Energy Services Company (ESCO) in New York State, receivables portfolio management and collection, ethnic food distribution, brochure distribution and other initiatives. IDT Corporation’s Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

Net2Phone extends a lifeline for stranded SunRocket customers; Net2Phone to offer up to 12 months of unlimited calling service for SunRocket VoIP customers

Newark, NJ – July 19, 2007 – Net2Phone is offering customers of now-defunct SunRocket an attractive solution to maintain VoIP service. Net2Phone, through its VoiceLine service, will honor up to 12 months remaining on a qualifying SunRocket contract. Service after the qualifying contract period will be just $19.95/month.  Net2Phone is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C).

 Net2Phone will provide up to 12 months of unlimited local and long distance service to US, Canada and Puerto Rico. In addition, the Voiceline service offers:

  • Popular calling features at no additional charge, including VoiceMail, Caller ID, Call Waiting, Speed Dial, and 3-Way Calling
  • Low international calling rates to over 250 locations
  • Phone Number Options – keep the existing number or get a new one

 Many of VoiceLine’s calling features can be managed from a touch-tone phone or from an online customer portal. For additional terms and conditions, visit www.net2phone.com.

 “IDT pioneered the development of Voice over IP technology and established ourselves as a worldwide provider of VoIP services when we founded Net2Phone,” said Jim Courter, IDT’s CEO. “We want to maintain consumer confidence in VoIP technology. To do that, we are prepared to offer service to those stranded by SunRocket’s closure and to honor the customer contracts for up to 12 additional months. These customers expect high quality, low cost Internet calling, and Net2Phone is the company to provide it to them.”

 SunRocket customers should visit www.net2phone.com/sunrocket to learn more about the terms of the offer and how to migrate their service.

 SunRocket is a trademark and/or trade name of SunRocket, Inc., a Delaware Corporation.

 About IDT

IDT Corporation is an innovative and opportunity seeking multinational company with operations that span various industries. Through its Telecom subsidiary, IDT provides telecommunications services worldwide to the retail and wholesale markets. IDT’s Capital division incubates newer businesses, and the company’s Spectrum subsidiary holds its spectrum license assets. IDT Telecom provides retail and wholesale telecommunications services and products, including pre-paid and rechargeable calling cards, consumer local, long distance, and wireless phone services, and wholesale carrier services. Under the Net2Phone brand name, the company also provides a range of voice over Internet protocol (VoIP) communications services. IDT Capital’s operations include an Energy Services Company (ESCO) in New York State, acquisition and collection of charged-off receivables, ethnic food distribution, brochure distribution, and other initiatives. IDT Corporation’s Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

 

Zedge Tops Five Million Subscribers; Popular Social Community and Free Mobile Content Provider Increases its Subscriber Base

NEWARK, N.J.—July 12, 2007–IDT Internet Mobile Group (IMG) announced today that www.zedge.net, its online social community for mobile users and user generated free mobile content provider, has now topped five million registered users.

The site hosts a wealth of complimentary content for mobile phones, with over 250 million pieces of content already downloaded. Zedgers generate, upload, download or view and share wallpaper, themes, videos, ringtones, games and other free mobile content. Zedge also hosts a robust social community and its own blog, zedgeheadz (http://blog.zedge.net), focusing on the world of mobile content.

 
According to research firm ABI Research, mobile social communities are expected to more than triple their current scope of approximately 50 million members to reach 174 million members by the year 2011.
“In a short time, we’ve doubled the Zedge subscriber base,” said Moshe Berger, CEO of the IDT Internet Mobile Group. “Today’s mobile users are attracted to features that allow them to personalize their phones and want to share the experience and content with friends and fellow Zedgers. Fueled by this social and business phenomenon, Zedge is intent on becoming the worldwide destination for content and community on the web and on mobile devices.”
 
About IDT Internet Mobile Group (IMG)
IDT Internet Mobile Group is part of IDT Corporation (NYSE: IDT, IDT.C), a multinational company with operations in telecommunications and other industries. IMG acquired Zedge in December, 2006.
 
About IDT Corporation
IDT Corporation is an innovative and opportunity seeking multinational company with operations that span various industries. Through its Telecom subsidiary, IDT provides telecommunications services worldwide to the retail and wholesale markets. IDT’s Capital division incubates newer businesses, and the company’s Spectrum subsidiary holds its spectrum license assets. IDT Telecom provides retail and wholesale telecommunications services and products, including pre-paid and rechargeable calling cards, consumer local, long distance, and wireless phone services, and wholesale carrier services. Under the Net2Phone brand name, the company also provides a range of voice over Internet protocol (VoIP) communications services. IDT Capital’s operations include an Energy Services Company (ESCO) in New York State, receivables portfolio management and collection, ethnic food distribution, brochure distribution and other initiatives. IDT Corporation’s Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

IDT CORPORATION DECLARES CASH DIVIDEND

Newark, N.J. – June 20, 2007 – IDT Corporation (NYSE: IDT, IDT.C) announced today that its Board of Directors authorized a cash dividend of $0.125 per share of IDT Corporation Common Stock, Class A Common Stock and Class B Common Stock. The $0.125 dividend will be payable on July 31, 2007 to shareholders of record at the close of business on July 23, 2007.

Cautionary Statements Regarding Forward-Looking Information:

The declaration of cash dividends in the future is subject to determination each quarter by the Board of Directors based on a number of factors, including IDT’s financial performance and its available cash resources. Accordingly, there can be no assurance that dividends in the future will be equal or similar to the amounts described in this press release or that the Board of Directors will not decide to suspend or discontinue the payment of cash dividends.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those with the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent IDT’s current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. These risks and uncertainties include, but are certainly not limited to the specific risks and uncertainties discussed in our reports filed with the SEC. All forward-looking statements and risk factors included in this document are made as of the date hereof, based on information available to IDT as of the date thereof, and IDT assumes no obligation to update any forward-looking statements or risk factors.

About IDT

IDT Corporation is an innovative and opportunity seeking multinational company with operations that span various industries. Through its Telecom subsidiary, IDT provides telecommunications services worldwide to the retail and wholesale markets. IDT’s Capital division incubates newer businesses, and the company’s Spectrum subsidiary holds its spectrum license assets. IDT Telecom provides retail and wholesale telecommunications services and products, including pre-paid and rechargeable calling cards, consumer local, long distance, and wireless phone services, and wholesale carrier services. Under the Net2Phone brand name, the company also provides a range of voice over Internet protocol (VOIP) communications services. IDT Capital’s operations include an Energy Services Company (ESCO) in New York State, receivables portfolio management and collection, ethnic food distribution, brochure distribution, and other initiatives. IDT Corporation’s Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

IDT Reports Results for the Third Quarter Fiscal 2007

NEWARK, NJ — June 6, 2007 — IDT Corporation (NYSE: IDT, IDT.C) announces operating results for the third quarter of fiscal 2007, the three months ended April 30, 2007.

·         Revenues: $485.4 million, down 11.3% year-over-year.
·         Net loss: $(15.9) million, versus a net loss of $(8.6) million one year ago.
·         Net loss per share: $(0.20) versus a net loss per share of $(0.09) one year ago.
·         Cash, cash equivalents, marketable securities, and long term investments totaled $750.2 million as of the end of the third quarter.

Click on attachment for entire release

Mikhail Leibov Named Chairman of IDT Telecom

Newark, NJ, June 5, 2007 — IDT Telecom today announced that Mikhail Leibov has been appointed Chairman of IDT Telecom. IDT Telecom is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), a multinational corporation with operations in telecommunications and other industries.

Mr. Leibov had served as CEO of Corbina Telecom, IDT’s Russian telecom venture, until its sale in 2005. Under Mr. Leibov’s leadership, Corbina Telecom grew from a start-up telecom venture into a profitable company offering wired and wireless telecom services throughout the 24 largest industrial areas in the Russian market. Mr. Leibov has a Masters of Science degree from Moscow State University, and prior to his time with Corbina and IDT, held various positions at IBM, AT&T and Prodigy Corporation.

“Mikhail’s experience and proven track record in growing businesses and identifying opportunities makes him a valuable asset to our Telecom team,” said Yona Katz, IDT Telecom CEO. “I look forward to working with him to strengthen and grow IDT Telecom.”

IDT Telecom also announced that Marcelo Fischer has been named Chief Financial Officer of IDT Telecom. Mr. Fischer had been Chief Financial Officer of IDT Corporation.  Mr. Fischer replaces Norman Rosenberg, who will be leaving IDT, after a brief transition period, to pursue opportunities outside of the Company.

About IDT

IDT Corporation is an innovative and opportunity seeking multinational company with operations that span various industries.  Through its Telecom subsidiary, IDT provides telecommunications services worldwide to the retail and wholesale markets. IDT’s Capital division incubates newer businesses, and the Company’s Spectrum subsidiary holds its spectrum license assets.  IDT Telecom provides retail and wholesale telecommunications services and products, including pre-paid and rechargeable calling cards, consumer local, long distance, and wireless phone services, and wholesale carrier services. Under the Net2Phone brand name, the Company also provides a range of voice over Internet protocol (VoIP) communications services. IDT Capital’s operations include an Energy Services Company (ESCO) in New York State, receivables portfolio management and collection, ethnic food distribution, brochure distribution, and other initiatives. IDT Corporation’s Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those with the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  While these forward-looking statements represent IDT’s current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. These risks and uncertainties include, but are certainly not limited to the specific risks and uncertainties discussed in our reports filed with the SEC.  All forward-looking statements and risk factors included in this document are made as of the date hereof, based on information available to IDT as of the date thereof, and IDT assumes no obligation to update any forward-looking statements or risk factors.

IDT Corporation to Report 3rd Quarter Results on June 6, 2007

NEWARK, NJ- May 31, 2007 Please join the IDT Corporation (NYSE: IDT, IDT.C) third quarter fiscal 2007 conference call for results for the three-month period ended April 30, 2007, along with an update on IDT’s businesses. The conference call is scheduled for Wednesday, June 6, 2007 at 4:30 PM (Eastern). An earnings release will be available prior to the call.

Participants may join the conference call two ways – via teleconference or webcast. The webcast may be accessed by visiting the IDT Corporation website at www.idt.net, or by using the hyperlink: http://www.vcall.com/IC/CEPage.asp?ID=117461

Participants will need Windows Media software to listen to the streaming feed of the conference call. Please allow at least 15 minutes to download any necessary audio software prior to the call.

To participate via telephone, the dial-in number for domestic callers is (866) 594-2183, and for international callers is (973) 935-8583, and the Conference ID number is 8810070.  Please dial in approximately 10 minutes prior to the start of the call.

An archived copy of the call will be available on the Investor Relations page of the IDT website, at: https://www.idt.net/about/ir/overview.asp; or via a replay, for domestic callers at  (877) 519-4471, and for international callers at (973) 341-3080, both using Conference ID number 8810070. The teleconference replay will be available for one week after the call.

We look forward to your participation.

Investor Contact
Michael Rapaport
973-438-4408

IDT Corporation is an innovative and opportunity seeking multinational company with operations that span various industries.  Through its Telecom subsidiary, IDT provides telecommunications services worldwide to the retail and wholesale markets. IDT’s Capital division incubates newer businesses, and the Company’s Spectrum subsidiary holds its spectrum license assets.  IDT Telecom provides retail and wholesale telecommunications services and products, including pre-paid and rechargeable calling cards, consumer local, long distance, and wireless phone services, and wholesale carrier services. Under the Net2Phone brand name, the Company also provides a range of voice over Internet protocol (VoIP) communications services.  IDT Capital’s operations include an Energy Services Company (ESCO) in New York State, receivables portfolio management and collection, ethnic food distribution, brochure distribution, and other initiatives.  IDT Corporation’s Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

IDT Corporation Appoints Stephen Brown Chief Financial Officer and Treasurer

Newark, N.J., March 29, 2007 – IDT Corporation (NYSE: IDT, IDT.C) today announced that, effective immediately, Stephen R. Brown has been appointed Chief Financial Officer and Treasurer. Mr. Brown, who served as IDT’s Chief Financial Officer from 1995 through May 2006, will replace Marcelo Fischer, who succeeded Mr. Brown in that position last year.  Mr. Brown left the CFO post in order to focus on the development of IDT Entertainment, and led that division during its growth and sale to affiliates of Liberty Media Corporation last year.  Mr. Fischer will assume the role of Senior Vice President – Finance and will focus on accounting and internal reporting matters.

“Steve Brown has served IDT well as CFO and as Co-Chairman of IDT Entertainment. He has been a great resource to IDT and its shareholders and we look forward to having him back at our financial helm as CFO again,” said Howard Jonas, IDT’s Chairman and Founder. “I, also, want to thank Marcelo Fischer for his service and the financial insights he brought to our executive team. I look forward to continuing to work together with Marcelo.”

“Steve Brown has been with us since the beginning and was instrumental in creating significant value for our shareholders in developing and selling IDT Entertainment,” said Jim Courter, IDT’s CEO. “We welcome him back to the CFO position.  Marcelo was able to step into the position with an absolutely smooth transition and become an excellent CFO.”

Besides his time as CFO and Treasurer, Mr. Brown has also served IDT and its affiliates in various other capacities.  He served as a director of IDT from 2000 through 2006, as Co-Chairman of IDT Entertainment from inception through its sale, as a member of the board of directors of Net2Phone from October 2001 through October 2004, and, most recently, as Co-CEO of IDT Capital.  Prior to joining IDT, Mr. Brown was a practicing CPA operating his own public accounting practice. 

About IDT Corporation

IDT Corporation is an innovative and opportunity seeking multinational company with operations that span various industries.  Through its Telecom subsidiary, IDT provides telecommunications services worldwide to the retail and wholesale markets. IDT’s Capital division incubates newer businesses, and the company’s Spectrum subsidiary holds its spectrum license assets. IDT Telecom provides retail and wholesale telecommunications services and products, including pre-paid and rechargeable calling cards, consumer local, long distance, and wireless phone services, and wholesale carrier services. Under the Net2Phone brand name, the company also provides a range of voice over Internet protocol (VoIP) communications services. IDT Capital’s operations include an Energy Services Company (ESCO) in New York State, receivables portfolio management and collection, ethnic food distribution, brochure distribution, and other initiatives.  IDT Corporation’s Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those with the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate,” “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  While these forward-looking statements represent IDT’s current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. These risks and uncertainties include, but are certainly not limited to the specific risks and uncertainties discussed in our reports filed with the SEC.  All forward-looking statements and risk factors included in this document are made as of the date hereof, based on information available to IDT as of the date thereof, and IDT assumes no obligation to update any forward-looking statements or risk factors.

IDT’s TúYo Mobile Launches Breakthrough Wireless Feature, Conecta2; First Wireless Provider to Feature International Call Forwarding

Newark N.J. March 28, 2007 – IDT’s TúYo Mobile today announced the launch of its newest calling feature, Conecta2.  The feature allows callers in Mexico, Argentina, Chile, Colombia and the Dominican Republic to call TúYo Mobile subscribers in the US for free, while the subscriber pays TúYo Mobile’s international rates plus airtime for the call. TúYo Mobile is IDT Telecom’s prepaid wireless service designed to meet the mobile calling needs of the U.S. Latino community. IDT Telecom is a subsidiary of IDT Corporation (NYSE:IDT, IDT.C), a multinational corporation with operations in telecommunications and other industries.

“Conecta2 is designed to keep subscribers connected with their friends and family back home,” said IDT Director of Wireless Marketing Robert Santana. “Now subscribers can rest easy knowing that their loved ones abroad can call anytime for free even if only to catch up or in the case of emergency.”

The Conecta2 service provides TúYo Mobile subscribers with a toll free access number in their participating country of choice. Callers in participating countries dial the toll free access number and enter a TúYo Mobile phone number followed by a security code set by the subscriber. Calls will forward only to the TúYo Mobile subscriber’s handset in the U.S. An international rate as low as ten cents per minute plus airtime will apply to the account balance of the TúYo Mobile customer receiving the international call.

Customers can also use their TúYo Mobile phone service account number as a prepaid calling card. This feature allows customers to make domestic and international calls from any phone using their available account balance.

As a special promotion, from March 19th through April 30, 2007, TúYo Mobile customers can use the Conecta2 service free of charge. Only standard airtime fees and charges will apply. Conecta2 does not require signup.

TúYo Mobile provides many additional features and services that are important to Latino consumers, including direct international dialing, competitive rates to Latin America, state-of-the-art handsets, a fully bilingual customer experience, and country specific alerts featuring breaking regional news, Hispanic celebrity gossip, sports, politics and horoscopes. Also, TúYo Mobile features a large selection of ring tones that span many genres including Reggaetón, Bachata, Salsa, Corrido, Cumbia, Mariachi, Merengue, Tejano, Grupero, Hip Hop and Pop/Rock Alternative.

TúYo Mobile wireless service is available in most major Latino markets in the US. Products are currently sold at hundreds of authorized stores in Los Angeles, Chicago, Texas, New York, New Jersey, Connecticut, Washington, DC, Pennsylvania, Maryland, Florida, California and Nevada. Customers can also sign up for TúYo Mobile at www.tuyo.com or through Customer Care at 877-IDT-TÚYO (877-438-8896).

About TúYo Mobile:

TúYo Mobile is a prepaid cellular service that does not require a contract or credit check and has no hidden charges. TúYo Mobile is geared towards the U.S. Latino market; offering its customers a completely bilingual experience, direct international dialing, low rates to Latin America and culturally relevant content.  The TúYo Mobile brand name comes from a combination of the Spanish words “tú” (you) and “yo” (I or me). Together they form the word “TúYo” (yours). The brand’s marketing campaigns include TV, radio, print, outdoors advertising and community events focused on Spanish-speaking consumers. TúYo Mobile offers Latino consumers high-quality GSM handsets and a suite of international voice and data features at affordable prices.

About IDT:

IDT Corporation is an innovative and opportunity-seeking multinational company with operations that span various industries.  Through its Telecom subsidiary, IDT provides telecommunications services worldwide to the retail and wholesale markets. IDT’s Capital division incubates newer businesses, and the company’s Spectrum subsidiary holds its spectrum license assets. IDT Telecom provides retail and wholesale telecommunications services and products, including pre-paid and rechargeable calling cards, consumer local, long distance, and wireless phone services, and wholesale carrier services. Under the Net2Phone brand name, the company also provides a range of voice over Internet protocol (VoIP) communications services.  IDT Capital’s operations include an Energy Services Company (ESCO) in New York State, debt collection, ethnic food distribution, brochure distribution and other initiatives.  IDT Corporation’s Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

DOLLAR PHONE AND LOCUS TELECOMMUNICATIONS SETTLE LAWSUIT BROUGHT BY IDT AND UTA; Agree to Work for Changes in the Prepaid Phone Card Industry

Newark, NJ, Brooklyn, NY and Englewood Cliffs, NJ, March 28, 2007— Dollar Phone Corp. and related companies, as well as Locus Telecommunications, Inc., have both agreed to settle the lawsuit brought by IDT Telecom, Inc. and Union Telecard Alliance, LLC against Dollar Phone, Locus, and other prepaid calling card companies.   IDT/UTA, Dollar Phone and Locus have agreed to work together to improve practices in the prepaid phone card industry.  This brings to three the number of defendants who have settled the litigation commenced by IDT/UTA earlier this month.  Terms of the settlement were so-Ordered yesterday by the Honorable Dennis M. Cavanaugh, United States District Court Judge for the District of New Jersey.

On March 8, 2007, IDT/UTA commenced a lawsuit against several prepaid calling card companies, including Dollar Phone and Locus, alleging false advertising and deceptive trade practices.  Dollar Phone and Locus deny all of the allegations in IDT/UTA’s complaint. 

In connection with the settlement, Dollar Phone and Locus have agreed to deliver 100% of the minutes promised to consumers.  IDT/UTA believes that until all defendants have agreed to adhere to this standard, it is beneficial for the continued prosecution of this action to have a streamlined litigation with fewer defendants. 

IDT/UTA, Dollar Phone and Locus also agreed to promote industry best practices and standards that protect consumers of prepaid card services and that establish a level playing field for all companies that sell, and provide telecommunications services for, prepaid cards.  IDT/UTA, Dollar Phone and Locus agreed to develop standards for disclosures, disclaimers and definitions for prepaid phone cards; mechanisms for testing the accuracy of disclosures and disclaimers made in connection with prepaid phone cards; and mechanisms for testing the ability of prepaid phone cards to deliver the number of minutes promised for particular destinations. The parties also agreed to undertake efforts to promote such standards among all prepaid card business and to promote independent monitoring of compliance with such standards.

IDT/UTA’s lawsuit against the remaining defendants is still continuing in federal court in Newark, New Jersey.

About IDT Telecom, Inc. and Union Telecard Alliance, LLC

IDT Corporation (NYSE: IDT, IDT.C) is a multinational company with operations that span various industries.  Through its Telecom subsidiary, IDT provides retail and wholesale telecommunications services and products, including pre-paid and rechargeable calling cards, consumer local, long distance, and wireless phone services, and wholesale carrier services. UTA is one of the largest distributors of prepaid phone cards in the United States and distributes over 200 different phone cards throughout the country.

About Dollar

Dollar Phone Corp. is a provider of telecommunications services.  Dollar Phone Enterprise, Inc. is a provider of prepaid calling card platform services to distributors of prepaid calling cards.

About Locus

Locus Telecommunications is an established, leading provider of long distance, wireless, point-of-sale and wholesale carrier services.  Utilizing an extensive nationwide distribution network, Locus delivers reliable access to advanced, affordable telecommunications products and services that meet its customers’ needs at home and around the globe.