Newark, N.J., June 6, 2006 – IDT Corporation (NYSE: IDT, IDT.C) today announced that Marcelo Fischer has been appointed Chief Financial Officer and Treasurer. Mr. Fischer replaces Stephen R. Brown. Mr. Brown remains Chairman of IDT Entertainment and will continue to lead the growth of that business under its new ownership. As announced on May 16, 2006, IDT entered into a binding term sheet for the sale of IDT Entertainment to Liberty Media Corporation (NASDAQ: LINTA, LCAPA).

“If there were a Hall of Fame for CFOs, Steve Brown would be voted in on the first ballot,” said Howard Jonas, IDT’s Chairman and Founder. “When he started as IDT’s first CFO in May 1995, before we went public, IDT’s revenues were about $10 million a year. Now, we do that in about a day and a half. Additionally, just three years ago, Steve helped create and launch IDT Entertainment. Another job well done.”

“Marcelo Fischer was the natural choice for CFO and Treasurer,” said Jim Courter, IDT’s CEO. “As Controller and Chief Accounting Officer of the corporation since 2001, Marcelo is thoroughly familiar with all of IDT’s businesses and he also has extensive experience in telecommunications and consumer products.”

Marcelo Fischer has served as IDT’s Controller since May 2001 and Chief Accounting Officer since December 2001. Prior to joining IDT, Mr. Fischer was the Corporate Controller of Viatel, Inc. from 1999 until 2001. From 1998 through 1999, Mr. Fischer was the Controller of Revlon, Inc’s International Consumer Operations. From 1991 through 1998, Mr. Fischer held various accounting and finance positions at Colgate-Palmolive Corporation. From 1988 to 1991, Mr. Fischer worked as an auditor at Deloitte and Touche. Mr. Fischer, a Certified Public Accountant, received an M.B.A. degree in Finance and Accounting from New York University Stern School of Business and a B.A. in Economics from the University of Maryland.

IDT Corporation, (NYSE: IDT; IDT.C) through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own international telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Capital is the IDT division principally responsible for the Company’s initiatives in brochure distribution, retail energy and new technologies. Net2Phone, Inc., a subsidiary of IDT Corporation, is a provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscriber

NEWARK, N.J. – May 30, 2006 – Please join us for the IDT Corporation (NYSE: IDT, IDT.C) third quarter conference call when we report results for the period ended April 30, 2006, along with an update on our businesses. Our conference call is scheduled for Wednesday, June 7^th at 8:30 AM (ET). 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 https://www.idt.net/, or by using the hyperlink: http://www.vcall.com/IC/CEPage.asp?ID=105480.

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

(866) 594-2183, and for international callers (973) 935-8583. Conference ID # 7450880 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 Passcode # 7450880. The teleconference replay will be available for one week after the call.

We look forward to your participation.

Newark, N.J., May 23, 2006 – IDT Corporation (NYSE:IDT, IDT.C) today announced the expiration of the offer to purchase, for $2.00 per underlying share in cash, from eligible optionees outstanding stock options to purchase shares of IDT Class B common stock.  The offer expired at 5:00 p.m., New York City time on Monday, May 22, 2006.  On the expiration date, options to purchase 7,914,451 shares of IDT Class B common stock had been tendered in the offer.  IDT has accepted for payment all options to purchase shares of IDT Class B common stock validly tendered and not withdrawn in the offer.

A copy of this press release will be available on IDT‘s website at www.idt.net in the “About IDT“ Press Releases section.

IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own international telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Entertainment is the IDT subsidiary that is focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT Capital is the IDT division principally responsible for IDT‘s initiatives in radio broadcasting, brochure distribution and new technologies. Net2Phone, Inc., a subsidiary of IDT Corporation, is a provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscribers. 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.

Englewood, CO and Newark, NJ – May 16, 2006—  Liberty Media Corporation (NASDAQ: LINTA, LCAPA) and IDT Corporation (NYSE: IDT, IDT.C) announced today that they have entered into a binding term sheet for the sale of IDT Entertainment to Liberty Media for all of Liberty Media’s interests in IDT, $186 million in cash and the assumption of existing indebtedness.  With this acquisition, Liberty Media’s Starz Entertainment Group will have the capability to create a wide array of CG animated and live action programming for domestic and international distribution in all major channels, including broadcast syndication, premium television, theatrical, and home video/DVD.

Gregory B. Maffei, CEO of Liberty Media, said “This transaction furthers our strategy of converting investments into strategic operating businesses that have synergies with our current companies.  IDT Entertainment and Starz is a great combination.  We have appreciated our long friendship with IDT and look forward to the next phase of our partnership.”

“John Malone has been a great mentor and friend. I anticipate great things from our continuing business relationship,” said Howard Jonas, IDT’s Chairman.

“This is a union of two companies that have complementary strengths and share the entrepreneurial spirit essential for success in the rapidly changing world of video production and distribution,” said SEG President and CEO Robert B. Clasen.  “With the addition of the dynamic, creative team at IDT Entertainment, our company will be positioned to capitalize fully on the opportunities afforded by the new era of content.” 

“In just three years, we have built IDT Entertainment into a strong, vertically integrated entertainment company,” said Jim Courter, IDT’s CEO. “We are capitalizing on the value we have created in this business in order to allow us to generate an attractive return for our shareholders.   We believe that Liberty Media’s Starz Entertainment Group is the right company to realize IDT Entertainment’s full potential.” 

IDT Entertainment CEO Morris Berger said, “Combining with Starz will provide new avenues of distribution for our expanding slate of CG animated and live action content.”  IDT Entertainment Chairman Steve Brown added, “Our outstanding creative team looks forward to bringing the IDT Entertainment experience to millions of new viewers via the Starz services.”

On closing, which the parties expect to occur within the next three months, Liberty Media will pay to IDT $186 million in cash, subject to certain adjustments, and all of Liberty Media’s equity interests in IDT and its subsidiaries, including approximately 17.2 million shares of IDT’s Class B common stock and Liberty Media’s approximate 5% interest in IDT Telecom.  Liberty will also assume IDT Entertainment’s existing indebtedness.  IDT will be entitled to receive additional consideration from Liberty based upon the appreciation in value of IDT Entertainment over the five year period following closing.  In addition, on closing, IDT Entertainment and Starz will enter into a five year programming output agreement for the broadcast on Starz’s premium channels certain IDT Entertainment’s proprietary CG animated theatrical releases and live action programming.  The transaction is subject to certain customary conditions and contingencies, including the finalization and execution of definitive documentation and the receipt of regulatory approvals.

Liberty Media owns a broad range of electronic retailing, media, communications and entertainment businesses and investments. It owns or has interests in some of the world’s most recognized and respected brands and companies, including QVC, Encore, Starz, IAC/InterActiveCorp, Expedia and News Corporation.

Starz Entertainment Group LLC (SEG) is a premium movie service provider operating in the United States. SEG offers 16 movie channels including the flagship Starz® and Encore® brands with approximately 14.6 million and 26.4 million subscribers respectively. Starz Entertainment Group airs more than 1,000 movies per month across its pay TV channels and offers advanced services including Starz HDTV, Starz On Demand and Vongo(SM). Starz Entertainment Group is a wholly-owned subsidiary of Liberty Media Corporation that is attributed to Liberty Capital Group, www.Starz.com.      

IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own international telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Entertainment is the IDT subsidiary that is focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT Capital is the IDT division principally responsible for IDT‘s initiatives in radio broadcasting, brochure distribution and new technologies. Net2Phone, Inc., a subsidiary of IDT Corporation, is a provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscribers. 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., May 16, 2006 – IDT Corporation (NYSE:IDT, IDT.C) today announced that the expiration date for the offer to purchase from eligible optionees outstanding stock options to purchase shares of IDT Class B common stock for $2.00 per share in cash has been extended to Monday, May 22, 2006 at 5:00 p.m., New York City time.  As disclosed in a separate release issued by IDT today, IDT has announced that it has entered into an agreement with Liberty Media Corporation to sell its IDT Entertainment division.  IDT is extending the offer to provide option holders with the opportunity to consider that development before making a determination as to whether to tender their options in the offer.  As stated in the other release, the transaction is subject to a number of contingencies.  We urge all option holders to consider in full all information disclosed about that transaction and the implications it may have on their decision to tender.  On the expiration date, all validly tendered options not previously withdrawn will be accepted for purchase pursuant to the terms of the offer and paid for promptly thereafter.  As of 5:00 p.m. New York City time on May 15, 2006, options to purchase 7,518,253 shares of IDT Class B common stock had been tendered in the offer.

This press release is intended for informational purposes only and is not an offer to buy, a solicitation of an offer to sell or a recommendation to sell any options to purchase shares of Class B common stock. The solicitation of offers to sell options to purchase shares of Class B common stock is made pursuant to a tender offer statement on Schedule TO as amended, an offer to purchase as amended and related materials filed with the SEC.  Holders of options are urged to read the tender offer statement, the offer to purchase, and other relevant documents filed with the SEC because they contain important information. Holders of options can obtain the tender offer statement and other publicly filed documents without charge from the web site maintained by the SEC at www.sec.gov or from IDT without charge by directing a request to IDT Corporation, 520 Broad Street, Newark, New Jersey, Attention: Investor Relations, Telephone: (973) 438-1000. A copy of this press release will be available on IDT‘s website at www.idt.net in the “About IDT“ Press Releases section.

IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own international telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Entertainment is the IDT subsidiary that is focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT Capital is the IDT division principally responsible for IDT‘s initiatives in radio broadcasting, brochure distribution and new technologies. Net2Phone, Inc., a subsidiary of IDT Corporation, is a provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscribers. 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., April 28, 2006 – IDT Corporation (NYSE: IDT, IDT.C) today announced that the expiration date for the offer to purchase from eligible optionees outstanding stock options to purchase shares of IDT Class B common stock for $2.00 per share in cash has been extended to Monday, May 15, 2006 at 5:00 p.m., New York City time.  In addition, the offer to purchase has been amended to provide that an optionee is eligible to participate in the offer if such optionee was an employee or director of, or consultant to, IDT or one of our subsidiaries on February 1, 2006, and maintained that status through 5:00 p.m., New York City time on March 24, 2006, the initial expiration date rather than the final expiration date.  On the expiration date, all validly tendered options not previously withdrawn will be accepted for purchase pursuant to the terms of the offer and paid for promptly thereafter.  As of 5:00 p.m. New York City time on April 27, 2006, options to purchase 7,155,441 shares of IDT Class B common stock had been tendered in the offer.

This press release is intended for informational purposes only and is not an offer to buy, a solicitation of an offer to sell or a recommendation to sell any options to purchase shares of Class B common stock. The solicitation of offers to sell options to purchase shares of Class B common stock is made pursuant to a tender offer statement on Schedule TO as amended, an offer to purchase as amended and related materials filed with the SEC.  Holders of options are urged to read the tender offer statement, the offer to purchase, and other relevant documents filed with the SEC because they contain important information. Holders of options can obtain the tender offer statement and other publicly filed documents without charge from the web site maintained by the SEC at www.sec.gov or from IDT without charge by directing a request to IDT Corporation, 520 Broad Street, Newark, New Jersey, Attention: Investor Relations, Telephone: (973) 438-1000. A copy of this press release will be available on IDT‘s website at www.idt.net in the “About IDT“ Press Releases section.

IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own international telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Entertainment is the IDT subsidiary that is focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT Capital is the IDT division principally responsible for IDT‘s initiatives in radio broadcasting, brochure distribution and new technologies. Net2Phone, Inc., a subsidiary of IDT Corporation, is a provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscribers. 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.

Los Angeles, CA and Newark, N.J., April 12, 2006 – Vanguard Animation and IDT Entertainment have announced the launch of production of their new all CG-animated feature film, SPACE CHIMPS.  The comedy, which follows the galactic misadventures of a hapless descendant of the first chimps in space, will be distributed domestically through IDT Entertainment’s multi-picture deal with Twentieth Century Fox. IDT Entertainment is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), an international telecom, entertainment and technology company.

            “We have developed this project over the past several years with extremely talented writers and I’m thrilled with the result,” says the film’s producer and Vanguard CEO John H. Williams (Shrek).  “We’ve put enormous time and creative energy into the evolution of the characters, the look of the film, and the story arc, and we’re convinced we have a franchise film.”

            “We’re delighted that Space Chimps is now underway,” says Morris Berger, IDT Entertainment CEO.  “This comedic family entertainment has everything we look for in the films we produce including enthralling storytelling and engaging characters.  We’re looking forward to a terrific collaborative experience.”  

            Norton Virgien (The Rugrats Movie, Rugrats Go Wild!) and Donovan Cook (Mickey, Donald, Goofy: The Three Mouseketeers) will direct.  The writer is Kirk DeMicco, whose credits include last year’s comedy Racing Stripes, The Twits, in development for Vanguard/Disney  (co-writing with John Cleese), and the upcoming Crood Awakening for Aardman and DreamWorks.  Other writers are Jason Venokur, Dave Goetsch, & Ross Venokur.

            Extensive character design and storyboarding are currently underway in Vancouver, BC at IDT Entertainment and Vanguard’s state-of-the-art CG animation studio. 

            John Williams is the Producer, Curtis Augspurger is Co-Producer, Tom Jacomb is Associate-Producer, and Eric Bennett and Neil S. Braun are Executive Producers for Vanguard Animation.  Morris Berger, Stephen R. Brown, Janet Healy and Jerry Davis are Executive producers for IDT Entertainment.  Space Chimps is an IDT Entertainment presentation of a Vanguard Animation film. Odyssey Entertainment has sold the film in all major international territories.

Neil Braun, IDT Entertainment’s President of Feature Films and Television, continues to serve as President and Chief Operating Officer of Vanguard Animation.  IDT Entertainment owns approximately 23% of Vanguard Animation.

Vanguard Animation/Vanguard Films is a film and animation production company which produced The Tuxedo with Jackie Chan for DreamWorks and Seven Years in Tibet with Brad Pitt for Sony.  Vanguard’s first independently financed animated feature film, Valiant, was distributed domestically by Disney in 2005 and debuted on DVD in December, 2005.  Vanguard’s next CG animated film with the Berliner Film Center and Berlin Animation Fund, Happily N’Ever After, has just wrapped production.

 

IDT Entertainment is a vertically integrated entertainment company that develops, produces, and distributes proprietary and licensed entertainment content.  The company’s first CG feature film, Everyone’s Hero, distributed through Twentieth Century Fox, premieres nationwide on September 15^th.  IDT Entertainment is a division of IDT Corporation (NYSE: IDT, IDT.C), an international telecom, entertainment and technology company. 

 

 

Newark N.J., April 11, 2006 – IDT Corporation today announced the appointment of Marc J. Oppenheimer to its Corporate Board of Directors. Mr Oppenheimer, who will serve on the audit committee, replaces Michael Levitt, who left the board in March 2006. IDT Corporation (NYSE: IDT, IDT.C) is an international telecom, entertainment and technology company.

Mr. Oppenheimer joins IDT outside board members, J. Warren Blaker, Rudy Boschwitz, Saul K. Fenster, James S. Gilmore III, Thomas Slade Gorton III, Jack F. Kemp, and Jeane Kirkpatrick. Marc Oppenheimer recently served on the Board of Net2Phone, a subsidiary of IDT Corporation.

“During his 26 year career Marc Oppenheimer has held significant operating and financial positions in banking, industry and investment management,” said Jim Courter, IDT’s CEO. “His appointment adds another high caliber, strongly independent, and highly distinguished individual to our corporate board. Specifically, Marc will serve as the board’s financial expert as required under the Sarbanes-Oxley Act.”

Mr. Oppenheimer is presently Executive Vice President of Kenmar Global Investment Management, Inc, and a Managing Director of Kenmar-Nihon Venture Capital, LLC. Kenmar is a global asset management firm. Previously he was President and Chief Executive Officer of Crystallex International Corporation, an international gold mining company primarily focused in Venezuela. Mr. Oppenheimer also served as Director of Trade and Merchant Banking for the Midlantic National Bank, N.A. and was Chief Financial Officer of Superior Steel. He began his financial career as a credit officer at The Chase Manhattan Bank N.A. Mr. Oppenheimer has a B.S. with Honors in Management and Industrial Relations from New York University and a MBA with Honors in Finance from New York University.

IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own international telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Entertainment is the IDT subsidiary focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT Capital is the IDT division principally responsible for the Company’s initiatives in brochure distribution, retail energy and new technologies. Net2Phone, Inc., a subsidiary of IDT Corporation, is a provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscribers.

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.

Burbank, CA and Newark, N.J., April 5, 2006 – IDT Entertainment is pleased to announce the appointment of Chris McGurk to the newly created post of Senior Advisor, New Ventures.  Mr. McGurk’s longtime career in the entertainment industry includes stints atop MGM, Universal Pictures, and the Walt Disney Company Motion Picture Group.  In his position as senior advisor, Mr. McGurk will focus his industry experience on leveraging IDT Entertainment’s assets to build a new live action theatrical production and distribution arm.  He will report to IDT Entertainment CEO Morris Berger and will work closely with the company’s roster of senior executives to maximize current productions across all platforms and to identify and propose potential new ventures.  IDT Entertainment is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), an international telecom, entertainment and technology company.

“In putting together our executive team we look for multi-dimensional thinkers who can lead our company with the wisdom of experience and the passion of an entrepreneur,” says Stephen R. Brown, IDT Entertainment Chairman.  “Chris McGurk is obviously one of those unique individuals.  He has been a driving force of the entertainment industry’s major new developments of the past two decades.  That kind of innovative thinking is perfectly in sync with IDT Entertainment’s ‘outside the box’ philosophy and we’re thrilled to have him on board.” 

“IDT Entertainment has assembled an impressive executive team and has acquired a group of core entertainment assets that bodes well for the future,” says Mr. McGurk.  “I very much look forward to helping the company build from that outstanding base. Our goal, in both the content and distribution arenas, is to become a fully integrated media company uniquely positioned for ongoing success in the digital age.”

“Chris McGurk is one of the most gifted and accomplished executives in the entertainment industry,” says IDT Entertainment CEO Morris Berger.  “In essence, he will act as our own ‘entrepreneur-in-residence.’ He’s a tremendous addition to our roster of esteemed industry executives and we’re thrilled that he will bring his business vision, comprehensive knowledge, and peerless contacts to IDT Entertainment.  With his arrival and the business lines he will pursue we are poised to become a more complete studio.”     

As Vice Chairman and Chief Operating Officer of MGM from 1999 to Spring of 2005, Mr. McGurk had responsibility for all corporate functions and operating divisions of the company including the studio’s film and television production and distribution units, all global home entertainment, consumer products merchandising, music, networks and interactive groups, and all financial, legal and human resources functions.

Among the films under Mr. McGurk’s guidance while heading MGM were Hannibal, Legally Blonde, The World Is Not Enough, the Barbershop franchise and Die Another Day, the most successful Bond release ever.

The Academy Award™ winners No Man’s Land and Bowling for Columbine were developed and produced under his auspices and he guided the development of Hotel Rwanda, which was nominated for three Academy Awards.  Capote, nominated for five Academy Awards and this year’s winner for “Outstanding Lead Actor,” was developed and produced during Mr. McGurk’s tenure.  

Mr. McGurk was President and Chief Operating Officer at Universal from late 1996 to1999.  He was responsible for all operating and planning activities for the Motion Picture Group, as well as all international operations, worldwide home entertainment, exhibition (UCI and Loew’s Cineplex), October Films and Polygram Filmed Entertainment.

Prior to his tenure at Universal, Mr. McGurk spent eight years at The Walt Disney Studios (1988-1996), including a two year stint as President of the company’s Motion Picture Group.  In this role, he oversaw all business and operating activities including international theatrical distribution, film acquisitions, Miramax Films, Hollywood Records, and Disney live theatrical productions. 

Before Disney, Mr. McGurk held key posts in finance, sales, marketing and planning at Pepsico, Inc. before advancing to Chief Financial Officer of Pepsi Cola East. 

Mr. McGurk is a member of the Academy of Motion Picture Arts & Sciences and serves on its Executive Branch Committee and is also a member of the Academy of Television Arts & Sciences.  He serves on numerous industry-related and charitable organizations.  Mr. McGurk and his wife Jamie received the H.E.L.P. Group’s “Spirit of Hope Award” in 2002 and its “Leader of Vision” award in 2003. Mr. McGurk holds a B.S. degree, summa cum laude, from the Syracuse University School of Management and a M.B.A. degree from the University of Chicago Graduate School of Business.

Mr. McGurk will be based in IDT Entertainment’s new West Coast headquarters in Burbank.   

IDT Entertainment is a vertically integrated entertainment company that develops, produces, and distributes proprietary and licensed entertainment content.  Its first CG animated feature film, Everyone’s Hero, with a voice cast led by Whoopi Goldberg, Rob Reiner, Brian Dennehy, William H. Macy, Raven Symone, and Mandy Patinkin, will premiere on September 15 through its multi-picture distribution deal with Twentieth Century Fox.  

Important Note:  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, including, but not limited to, those described in IDT’s most recent report on SEC Form 10-K (under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K and other filings IDT may make with the SEC.

Newark, N.J., April 5, 2006 – IDT Corporation (NYSE:IDT, IDT.C) today announced that the expiration date for the offer to purchase from eligible optionees outstanding stock options to purchase shares of IDT Class B common stock for $2.00 per share in cash has been extended to Friday, April 28, 2006 at 5:00 p.m., New York City time. On the expiration date, all validly tendered options not previously withdrawn will be accepted for purchase pursuant to the terms of the offer and paid for promptly thereafter. As of 5:00 p.m. New York City time on April 5, 2006, options to purchase 7,100,336 shares of IDT Class B common stock had been tendered in the offer.

This press release is intended for informational purposes only and is not an offer to buy, a solicitation of an offer to sell or a recommendation to sell any options to purchase shares of Class B common stock. The solicitation of offers to sell options to purchase shares of Class B common stock is made pursuant to a tender offer statement on Schedule TO as amended, an offer to purchase as amended and related materials filed with the SEC. Holders of options are urged to read the tender offer statement, the offer to purchase, and other relevant documents filed with the SEC because they contain important information. Holders of options can obtain the tender offer statement and other publicly filed documents without charge from the web site maintained by the SEC at www.sec.gov or from IDT without charge by directing a request to IDT Corporation, 520 Broad Street, Newark, New Jersey, Attention: Investor Relations, Telephone: (973) 438-1000. A copy of this press release will be available on IDT’s website at www.idt.net in the “About IDT” Press Releases section.

IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own international telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Entertainment is the IDT subsidiary that is focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT Capital is the IDT division principally responsible for IDT’s initiatives in radio broadcasting, brochure distribution and new technologies. Net2Phone, Inc., a subsidiary of IDT Corporation, is a provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscribers. 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.