March 20, 2007– IDT Telecom, Inc., Union Telecard Alliance, LLC and Epana Networks, Inc. have agreed to a settlement of the lawsuit brought by IDT and UTA against Epana and numerous other prepaid calling card companies.  IDT/UTA and Epana will now work together to change unlawful and deceptive practices in the prepaid phone card industry.  Earlier today, terms of the settlement were so-Ordered by the Honorable Susan D. Wigenton, United States District Court Judge for the District of New Jersey.

IDT/UTA and Epana will promote standards that protect consumers of prepaid card services from deceptive practices and that establish a level playing field for all companies that sell, and provide telecommunications services for, prepaid cards.  IDT/UTA and Epana also agreed to develop standard 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 had alleged that unlike its own calling cards, those of many of its competitors deliver only
approximately 60% of the minutes of telecommunications services (a) announced and promoted on voice prompts heard by consumers in connection with calls made by using the defendants’ cards and (b) advertised by such competitors on radio, newspaper, poster, internet, or other medium. Epana denied all of the allegations in IDT/UTA’s complaint, and maintained that it is compliant with all state and federal laws regarding the provision of telecommunications services and that it uses what it believes to be the strongest and most conservative disclaimers informing consumers of all fees and charges applicable to Epana’s prepaid phone cards.

Based on Epana’s commitment to delivering 100% of minutes promised to consumers and collaborating to change the prepaid phone card industry and in an effort by IDT/UTA to streamline the litigation they commenced, IDT/UTA agreed to withdraw their claims asserted as against Epana.  IDT and 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 Epana Networks, Inc.
Epana Networks is a leading international telecommunications carrier and prepaid calling card
provider providing consumer telephony services to more than 200 international destinations around the world. Epana delivers technologically advanced, competitively priced prepaid calling card services to enable millions of people to communicate around the world every day. For more information, go to www.epana.com.

Newark, N.J. – March 15, 2007 – IDT Corporation (NYSE: IDT, IDT.C) announced today that its Board of Directors authorized a cash dividend of $0.25 per share of IDT Corporation Common Stock, Class A Common Stock and Class B Common Stock, with the intention to continue paying dividends, on a quarterly basis, subject to Board approval, of $0.125. The $0.25 dividend will be payable on April 24, 2007 to shareholders of record at the close of business on March 27, 2007.

“We recently generated value for our shareholders through the sale of IDT Entertainment and felt that distributing a portion of the proceeds to them is appropriate,” said Jim Courter, IDT CEO and Vice Chairman. “We intend to use an ongoing dividend as a method of returning cash to our shareholders.  Future dividends will be determined by cash flows from our operations, the availability of attractive return generating opportunities and our cash balances.”

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.

 

Newark, NJ – March 8, 2007 – IDT Telecom, Inc. and Union Telecard Alliance, LLC  (collectively, “IDT”) commenced a civil anti-fraud lawsuit today against certain of its competitors in the US pre-paid calling card market.  The lawsuit, which was filed in federal district court in Newark, New Jersey, alleges, among other things, that defendants CVT Prepaid Solutions, Inc., Dollar Phone Corp., Dollar Phone Services, Inc., Dollar Phone Enterprises, Inc., Dollar Phone Access, Inc., Epana Networks, Inc., Locus Telecommunications, Inc., Total Call International, Inc., STi Phonecard, Inc., Find & Focus Abilities, Inc, VOIP Enterprises, Inc., and Telco Group, Inc. (collectively, “the Defendants”) are systematically falsely promising minutes that consumers cannot obtain from the cards they have bought.  The complaint alleges that the Defendants’ deceptive practice causes consumers to lose more than one million dollars a day.

The lawsuit further alleges that the Defendants’ fraudulent conduct in the pre-paid calling card marketplace has negatively impacted IDT’s market share, resulting in a reduction in IDT’s revenues, and also has caused reductions to net income.  The suit seeks a preliminary and permanent injunction barring Defendants from continuing in this massive and systemic fraud as well as money damages.

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.

NEWARK, NJ — March 8, 2007 — IDT Corporation (NYSE: IDT, IDT.C) announces operating results for the second quarter of fiscal 2007, the three months ended January 31, 2007.

·         Revenues: $512.5 million, down 9.7% year-over-year.

·         Net loss: $27.0 million, versus a net loss of $55.6 million one year ago.

·         Net Loss per share: ($0.33), versus a net loss per share of ($0.58) one year ago.

·         Cash, cash equivalents and marketable securities totaled $768.0 million as of the end of the second quarter.

See attachment for entire release

NEWARK, NJ- February 28, 2007 – Please join us for the IDT Corporation (NYSE: IDT, IDT.C) second quarter fiscal 2007 conference call when we report results for the three-month period ended January 31, 2007, along with an update on our businesses. Our conference call is scheduled for Thursday, March 8th at 4:30 PM (Eastern). An earnings release will be available prior to the call.

We are pleased to offer two ways to participate in the conference call – 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=114319.

You 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.

If you choose to participate via telephone, the dial-in number for domestic callers is (888) 321-3075, and for international callers (973) 582-2855. Conference ID # 8481332 will speed your connection to the call.  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 # 8481332. The teleconference replay will be available for one week after the call.

We look forward to your participation.

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 today announced the appointment of Reverend Eric Cosentino to its Board of Directors. Rev. Cosentino replaces Alan Claman, who will be serving as a consultant to IDT with respect to its operations in Israel. IDT Corporation (NYSE: IDT, IDT.C ) is a multinational corporation with operations in telecommunications and other industries.

Mr. Claman will assist the Company in analyzing and growing its operations in Israel, focusing on specific ventures and efficiency of operations as well as examining growth opportunities and new ventures. Mr. Claman founded and served as President of Aerospace International Sales until 1997. In accepting his new responsibilities, Mr. Claman has resigned his seat on IDT’s Board of Directors.

“We are constantly seeking new opportunities and ways to strengthen our company, and given the entrepreneurial environment combined with a strong and growing technology sector, we see opportunity in Israel,” said Jim Courter, IDT’s CEO. “We identified a need for additional input and an opportunity to benefit from the services of an experienced builder of businesses. From his service on our board, it quickly became apparent that we could better utilize Alan’s talents and experience in a more active position. Alan’s experience in developing businesses and finding successful opportunities will be invaluable to IDT in Israel.”

Alan Claman, 60, has been a consultant to the aviation industry since 1997. Mr. Claman serves as President and Director of Todah L’Tzahal, an Israeli charity he founded in 2001. He was previously in private law practice at The Law Offices of Alan Claman. Mr. Claman holds a B.A. in Economics from the University of California at Los Angeles and a J.D. from Harvard Law School.

“We welcome Rev. Cosentino to IDT’s Board,” said Marc J. Oppenheimer, President of Octagon Associates, Inc. and the lead independent director of IDT’s board. “Rev. Cosentino was a valued member of the Board of Directors of IDT Entertainment from its infancy through its growth and sale to Liberty Media. We look forward to his input and the perspective he will bring to the Board.”

The Reverend Eric Cosentino, 50, is Rector of the Episcopal Church of the Divine Love in Montrose, New York. He has also served on the Board of Directors of the Evangelical Fellowship Anglican Communion of New York.

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.

Newark, NJ – January 25, 2007 – IDT Corporation (NYSE: IDT, IDT.C), Union Telecard Alliance, LLC (“UTA”) and IDT Telecom, Inc. (collectively, “IDT”) announced that they have reached a settlement with plaintiffs in a nationwide calling card related class action.  IDT previously accrued for and disclosed an agreement in principle in March 2005 in its quarterly report.  The action related to claims concerning IDT’s prepaid and rechargeable calling card disclosures regarding rates and charges. This settlement resolves all of the companies’ pending calling card litigations.  As part of the settlement, IDT denies any wrong-doing or liability and the parties agreed to the settlement to avoid further costs and uncertainties related to litigation.

The class action, In re IDT Corp. Calling Card Terms Litigation, remains pending before the United States District Court for the District of New Jersey until the settlement agreement is given final approval by the Court.  The settlement affects customers who purchased an IDT calling card in the U.S. at any time between January 1, 1997 and January 22, 2007, or purchased an IDT calling card in the U.S. any time between January 22, 2007 and December 16, 2007.  The settlement will provide refund PINs to those people who submit an eligible PIN to IDT.  IDT agreed to provide refund PINs worth up to $20 million to eligible consumers of IDT calling cards for domestic telephone calls.  Eligible consumers of IDT prepaid calling cards are entitled to a refund PIN with a value of $0.50 for domestic calls at $0.10 per minute for each eligible PIN submitted.  Eligible consumers of IDT rechargeable calling cards are entitled to a refund PIN with a value of $0.50 for domestic calls at $0.10 per minute for every $5.00 worth of calling time that was loaded onto the card when it was first purchased and charged.  IDT also has agreed to modify the disclosures contained on its calling cards and to propose a uniform calling card regulation to the New Jersey Attorney General’s Office.  In addition, IDT has agreed to make $2 million or the equivalent dollar value of donations to charitable organizations such as educational scholarships and/or donations of calling cards as additional cy pres relief. 

If the settlement receives final approval by the Court, members of the settlement class can submit a claim by accessing IDT’s interactive voice response telephone system by either calling a toll-free number (800-921-2781) or any IDT calling card access number or customer service number, or by accessing a link on IDT’s or UTA’s website (www.idt.net or www.uniontelecard.com).  They must then enter a PIN number from an IDT calling card that was purchased on or before January 22, 2007 or purchased any time after January 22, 2007, but before December 16, 2007.  Members of the settlement class may be required to provide their names and addresses, and the name of the calling card associated with the PIN number.  IDT, subject to Court review, will then determine whether the member of the settlement class is eligible for a refund based on confirmation of a legitimate PIN and remaining funds in the pool.  If eligible, IDT will provide members of the settlement class with a refund PIN. 

The plaintiffs in In re IDT Corp. Calling Card Terms Litigation are represented by Plaintiffs’ Lead Counsel, Peter S. Linden, Esq. of the law firm of Kirby, McInerney, & Squire, LLP; by Plaintiffs’ Liaison Counsel, the law firm of Laurence J. Sass, Attorney at Law; and by other class counsel.  IDT Corporation, UTA and IDT Telecom, Inc. are represented by James E. Tyrrell, Jr., Esq., Scott Louis Weber, Esq. and Elissa J. Glasband, Esq. of the law firm of Patton Boggs LLP. 

About IDT Corp.

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.

NEWARK, N.J. — January 17, 2007— IDT Carmel, a subsidiary of IDT Capital, today announced the formation of a joint venture with First Financial Portfolio Management. IDT Carmel is a receivables portfolio management and collection company. IDT Capital is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), a multinational corporation with operations in telecommunications and other industries.

“IDT is a nimble entrepreneurial and opportunity seeking company,” said Jim Courter, CEO of IDT.  “In the recent past, we saw opportunity and success in the entertainment industry and the Russian broadband and wireless markets.  We now see opportunity in the receivables portfolio management business.  We’ve created IDT Carmel to explore this industry.”

The joint venture has agreed to purchase 12 monthly forward flow credit card debt portfolios from a major commercial bank beginning this month.  The total investment will depend on the size of the portfolios provided by the selling bank.

Since its formation in mid 2005, IDT Carmel has purchased $296 million of face amount of receivables. IDT Carmel’s collection operations are currently collecting approximately $255 million in face amount of debt.

Yaacov Dior has been appointed CEO of IDT Carmel.  Prior to joining IDT Carmel, Mr. Dior was the CEO of Israel Credit Cards (Visa-Cal) Ltd., Chairman of Diners Club Ltd. in Israel and a member of the Board of Directors of Visa International.

“We are very excited about this transaction,” said Mr. Dior.  “We purchased our first debt portfolio in late 2005. Since that time, we’ve made other acquisitions and have now entered into a joint venture with a partner with extensive industry experience. This forward flow purchase represents the next step in Carmel’s growth.”

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.

 

NEWARK, N.J. – December 28, 2006– IDT Corporation (NYSE: IDT, IDT.C) announced today that it will host an Investor Day on Wednesday, January 17^th, 2007.   The event will take place at the Company’s headquarters in Newark, N.J., beginning 9:30 AM (EST) and ending approximately 1 PM, and will feature presentations by senior executives.

Due to space limitations, registration is required in advance of the event.  Analysts and Institutional Investors wishing to attend should submit requests to attend to:  investorday@corp.idt.net.

We are pleased to also offer audio access to the event via 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=112437.  You will need Windows Media software to listen to the streaming feed. Please allow at least 15 minutes to download any necessary audio software prior to the call.  Slide presentations for the event will also be posted on the Presentations tab of the Investor Relations section of the IDT Corporation website.

We look forward to your participation in this event.

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, 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.

Newark, N.J., December 18, 2006 – IDT Capital today announced the formation of the IDT Internet Mobile Group.  Coinciding with its formation, the IDT Internet Mobile Group also announced the acquisition of Norway-based Zedge.net. IDT Capital is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C) an international telecom and technology company.

The new division will be responsible for the acquisition, development and incubation of Internet and mobile content.  According to market research firm “Research and Markets,” the worldwide mobile content market will grow from $16.7 billion in 2003 to $78 billion by 2007.

“The creation of the IDT Internet Mobile Group fits into IDT’s long-term growth strategy,” said Jim Courter, IDT’s CEO. “IDT built its success by providing consumers around the globe with communications services that meet their needs. We are now applying this experience and expertise to the Internet and mobile industries, the worldwide communications markets of the future.”

Zedge.net is a user-generated mobile content community with nearly 3.5 million members and nearly one half million pieces of user-generated mobile content.

“The purchase of Zedge.net allows the IDT Internet Mobile Group to enter the mobile content market with a running start,” says Morris Berger CEO of the IDT Internet Mobile Group.  “Our intention is to become a worldwide destination for content and community on the Internet and in mobile devices.”

Morris Berger has been named CEO of the IDT Internet Mobile Group. Mr. Berger recently served as the Chief Executive Officer of IDT Entertainment, Inc. from December 2003 until August 2006 and as a director of IDT Entertainment, Inc. from June 2004 until August 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, 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.