Newark, N.J., July 1, 2004 – IDT Telecom today announced that it is making “IDT America Unlimited” available in California for $34.95. The company’s all-inclusive unlimited calling plan was recently launched in Florida and Georgia. “IDT America Unlimited” is available for $39.95 in most areas. IDT Telecom is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), a multinational telecom, entertainment and technology company.

“IDT America Unlimited” is available to about a third of the American population. In addition, IDT is a licensed CLEC (competitive local exchange carrier) in 44 states. This gives IDT the opportunity to roll out “IDT America Unlimited” in other states depending on market demands and market conditions in the coming months.

“We’ve worked our way down the East Coast and now we’re expanding on the West Coast,” said Jim Courter, IDT’s CEO. “Our long-term plan is to roll out ‘IDT America Unlimited’ across the country. IDT is committed to providing affordable, high-quality telecommunications services to people everywhere.”

“Despite the uncertainty over regulations that would affect local phone competition, you can be certain that IDT will remain competitive,” said Howard Jonas, IDT’s Founder and Chairman. “IDT’s low overhead and cost structure give us the ability to provide quality phone service at reasonable rates.”

“IDT America Unlimited” includes unlimited local, regional toll and long distance calling with Caller ID, Speed Dial, Call Waiting and 3-Way Calling on one monthly bill. Customers may also choose the “IDT America Choice” plan that provides unlimited local service with Caller ID and Call Waiting for $28.95 per month with IDT Long Distance included at just 5 ¢ a minute (available in most areas) with no additional fees. IDT offers a choice of international discount calling plans for either “IDT America Unlimited” or “IDT America Choice” for an additional $2 – $4 monthly. Customers can get per minute rates as low as UK for 6¢, Hong Kong for 6¢ and China for 9¢.

“IDT America Unlimited” is now available in California, Delaware, Florida, Georgia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and West Virginia.

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 national 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. Menlo Park is the IDT division principally responsible for the Company’s initiatives in radio broadcasting, brochure distribution and new video technologies. Winstar Holdings, LLC, which provides service under the IDT Solutions brand, is the IDT subsidiary focused on providing broadband and telephony services to commercial and governmental customers through a fixed-wireless and fiber infrastructure. Net2Phone, Inc., a subsidiary of IDT Corporation, is a leading 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.
Important Note: In this press release, all statements that are not purely about historical facts, including, but not limited to, those include 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., June 17, 2004 – IDT Entertainment today announced the formation of IDT Entertainment Sales (IDTeS), a new company responsible for the worldwide distribution of content from IDT Entertainment companies, as well as third-party producers. IDT Entertainment companies include Anchor Bay Entertainment, Manga Entertainment, DPS, DPS/Film Roman, Mainframe Entertainment and DKP Effects. IDT Entertainment is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company.

“With the creation of IDT Entertainment Sales we dramatically expand our distribution capability,” said Jim Courter, IDT’s CEO. “Now, not only do we have DVD distribution to retailers in the U.S., Canada and the UK through Anchor Bay, but we also gain the ability to acquire and distribute programming to television broadcasters worldwide.”

IDT Entertainment is headed by Steve Brown, Chairman and Morris Berger, CEO.
Rick Mischel, CEO of Mainframe Entertainment has been named CEO of IDT Entertainment Sales. Mr. Mischel will continue to serve as Mainframe’s CEO. John W. Hyde, CEO of DPS/Film Roman and COO of IDT Entertainment, will oversee operations of IDT Entertainment Sales as its Vice Chairman with Steve Brown and Morris Berger as Co-Chairs.

Andrew Berman has been named Executive VP of Sales for IDT Entertainment Sales. In that position, he will be responsible for the sales, marketing and distribution for all company properties. Previously, Mr. Berman led the U.S. and worldwide sales efforts for TMS Entertainment, a well-known Japanese animation production and distribution company.

IDT Entertainment Sales will represent the worldwide sales and marketing of IDT Entertainment properties, which include in-house productions of animated features, series, specials and live action feature films. In addition, IDTeS will acquire third-party properties for global distribution. The new company’s main office will be located in Los Angeles. The company will also have a UK office in London.

“The formation of IDT Entertainment Sales will provide IDT Entertainment with a global marketing presence and a significant new source of revenue,” said Morris Berger, CEO of IDT Entertainment. “We plan to immediately enter the worldwide distribution marketplace with IDT Entertainment programming and to leverage our existing relationships with producers, production companies and studios to acquire the distribution rights for other premier properties.”

IDT Entertainment Sales will be making its debut at MIPCOM, the International marketplace for entertainment content, in October with an impressive line up of projects, including the first look at IDT Entertainment’s development of product from the recently announced deals with Stan Lee’s POW! Entertainment, LLC and Todd McFarlane’s Spawn. In addition, IDTeS will unveil a preview of the new Inspector Gadget computer generated (CG) DVD feature, as well as a number of new properties from the IDT Entertainment group of companies.

“IDT Entertainment is now a fully vertically integrated worldwide production and distribution company,” said Rick Mischel, CEO of IDT Entertainment Sales. “With IDT Entertainment Sales, we have the opportunity to take the next step and establish IDT Entertainment as the leader in branded entertainment programming for the global marketplace.”

IDT Entertainment, a division of IDT Corporation, is a vertically integrated entertainment concern that develops, produces and distributes proprietary and licensed entertainment content, with a particular focus on high-quality animation. IDT Entertainment is in the early stages of production on two proprietary CG animated feature films, Gene Roddenberry’s Starpoint Academy and a feature yet to be named, directed by Christopher Reeve. IDT Entertainment consists primarily of the following wholly owned or controlled subsidiaries:

·Anchor Bay Entertainment is one of the largest independent home video distributors of DVDs and videos to retail outlets, and has a significant presence in the children, horror and fitness genres. Anchor Bay’s library consists of over 3,500 owned or licensed titles, including the Thomas the Tank Engine series, the Halloween series and the Crunch fitness series.

·Manga Entertainment is a film company specializing in the production, distribution and worldwide marketing of Japanese animation or “anime” for home video releases, theatrical, and television broadcast.

·Digital Production Solutions, or DPS, is a Computer Generated (CG) animation production company. DPS’ proprietary Global Animation Studio platform enables numerous animators at diverse locations to work cooperatively and simultaneously on the same animation project utilizing IDT’s telecommunications infrastructure.

·DPS/Film Roman is a leading third-party provider of television animation services and special effects. DPS/Film Roman has been the animation studio for The Simpsons, King of the Hill, and Tripping the Rift, now airing on the Sci-Fi network.

·Mainframe Entertainment is a leading provider of CG animation for television and direct-to-video products such as the Barbie DVD collection for Mattel, Popeye and Scary Godmother.

·DKP Effects is a 3-D animation and special effects production company, well known for its innovative work for movies and television.

IDT Entertainment has completed several investments and joint ventures to secure access to brand name characters and content as well as distribution channels for family-friendly content. In July 2003, IDT purchased a minority equity interest in Vanguard Animation and entered into a joint venture with Vanguard to co-produce and co-own future Vanguard properties distributed in theaters, direct-to-video and on television. Vanguard Animation is a CG animated feature film company founded by John Williams, the originating producer of Shrek. Vanguard’s initial production, Valiant, is the first in a series of four Vanguard-produced films to be distributed by Disney. IDT Entertainment has an equity interest in Archie Comics Entertainment, as well as rights to co-develop and co-produce animated properties based upon selected characters of Archie Comics Entertainment. IDT has also entered into a joint venture with the Christian Broadcasting Network to develop and distribute family-friendly programming. IDT Entertainment also owns a minority interest in Stan Lee’s POW! Entertainment. In connection with IDT Entertainment’s investment in POW!, the companies agreed to co-develop and co-produce a minimum of six animation projects for Direct-to-DVD distribution and broadcast. Recently, IDT Entertainment entered into a multi-faceted development, production, and distribution agreement with Todd McFarlane Productions (TMP) to produce animated programming and merchandise based on Spawn and other TMP original intellectual properties.

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., June 10, 2004 – IDT Entertainment today announced that through its home video subsidiary, Anchor Bay Entertainment, it has signed an exclusive agreement with Stephen J. Cannell Productions, Inc. to market and distribute hit television programs for the prestigious Cannell library. Featured programs include, “21 Jump Street,” “The Commish,” “Silk Stalkings,” “Hunter,” “The Greatest American Hero,” “Renegade,” as well as other well-known Cannell series. IDT Entertainment is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company.

Stephen J. Cannell, Founder and Chairman of Stephen J. Cannell Productions, Inc., is well known as one of the television industry’s most prolific writers. During his career, Mr. Cannell created or co-created more than 40 shows and has written more than 450 television episodes. In addition, Mr. Cannell has produced or executive produced more than 1,500 television episodes. Cannell currently has in development “The A-Team” feature film at Fox 2000, “The Greatest American Hero” feature film at Disney and “21 Jump Street” at Paramount.

“Anchor Bay has become a leading independent distributor of direct to home DVD programming by working with great companies like Stephen J. Cannell Productions,” said Jim Courter, IDT’s CEO. “By adding classic Cannell dramas to its existing library of children’s, horror and fitness hits, Anchor Bay gains a new audience and ensures its position as an industry leader.”

Anchor Bay Entertainment has scheduled the first Cannell releases for fall 2004.

“I am thrilled to be working with Anchor Bay Entertainment, a company well-known for releasing quality entertainment on DVD,” commented Stephen J. Cannell. “Over the years, Anchor Bay has demonstrated what can be accomplished if creativity and care are part of the DVD process. I look forward to a long and creative partnership.”

“Stephen J. Cannell’s compelling, dramatic television programming will be a hit at retail,” said Ted Green, CEO of Anchor Bay Entertainment. “ Not only do we see a huge market with original Cannell fans, but we also believe programs like 21 Jump Street with Johnny Depp will find a receptive audience with a whole new generation of younger viewers.”

The agreement includes first run broadcast programs notable not only for launching the careers of many major stars but for their ratings success as well.

The young, hip police series “21 Jump Street” debuted in April 1987 on the then-new Fox Broadcasting Network. With Johnny Depp, Peter DeLuise, Dustin Nguyen and Holly Robinson in leading roles, the show quickly became the most popular series of Fox.

“The Commish,” starred Michael Chiklis as Commissioner Tony Scali and debuted in September 1991 on ABC. The series was based on a real-life police commissioner, Tony Schembri of Rye, New York.

Also debuting in the fall of 1991 was “Silk Stalkings.” The show starred Rob Estes as Sgt. Chris Lorenzo, Mitzi Kapture as Sgt. Rita Lee Lance and Ben Vereen as Captain Hutchinson. Based in wealthy Palm Beach, Florida, “Silk Stalkings” was an hour-long police drama that aired its first two seasons on CBS and the next six seasons on the USA Network.

Fred Dryer and Stephanie Kramer starred in the police drama “Hunter,” which originally debuted in 1984 on NBC. With a gun named Simon, Hunter was a L.A.P.D. detective with a tough but beautiful partner, Detective Sgt. Dee Dee McCall. The show enjoyed seven years in primetime.

“The Greatest American Hero” starred William Katt as a bumbling superhero. The series began airing in March of 1981 on ABC. Its theme song became a major hit record during that summer and has become a part of the TV-culture’s vernacular.

Debuting in 1992, “Renegade” starred Lorenzo Lamas as Reno Raines, a young policeman in Bay City, CA. The show aired on USA Network and also starred its creator, Stephen J. Cannell as Lt. Marshall Donald Dixon.

Stephen J. Cannell Productions, Inc. owns the worldwide distribution rights to more than 1,000 hours of Cannell produced series and TV movies.

IDT Entertainment, a division of IDT Corporation, is a vertically integrated entertainment concern that develops, produces and distributes proprietary and licensed entertainment content, with a particular focus on high-quality animation. IDT Entertainment is in the early stages of production on two proprietary CG animated feature films, Gene Roddenberry’s Starpoint Academy and a feature yet to be named, directed by Christopher Reeve. IDT Entertainment consists primarily of the following wholly owned or controlled subsidiaries:

· Anchor Bay Entertainment is one of the largest independent home video distributors of DVDs and videos to retail outlets, and has a significant presence in the children’s, horror and fitness genres. Anchor Bay’s library consists of over 3,500 owned or licensed titles, including the Thomas the Tank Engine series, the
Halloween series and the Crunch fitness series.

· Digital Production Solutions, or DPS, is a Computer Generated (CG) animation production company. DPS’s proprietary Global Animation Studio platform enables numerous animators at diverse locations to work cooperatively and simultaneously on the same animation project utilizing IDT’s telecommunications infrastructure.

· DPS Film Roman is a leading third-party provider of television animation services and special effects. Film Roman has been the animation studio for The Simpsons, King of the Hill, and Tripping the Rift, now airing on the Sci-Fi network.

· Mainframe Entertainment is a leading provider of CG animation for television and direct-to-video products such as the Barbie DVD collection for Mattel, Popeye and Scary Godmother.

· DKP Effects is a 3-D animation, and special effects production company, well known for its innovative work for movies and television.

IDT Entertainment has completed several investments and joint ventures to secure access to brand name characters and content as well as distribution channels for family-friendly content. In July 2003, IDT purchased a minority equity interest in Vanguard Animation and entered into a joint venture with Vanguard to co-produce and co-own future Vanguard properties distributed in theaters, direct-to-video and on television. Vanguard Animation is a CG animated feature film company founded by John Williams, the originating producer of Shrek. Vanguard’s initial production, Valiant, is the first in a series of four Vanguard-produced films to be distributed by Disney. IDT Entertainment has an equity interest in Archie Comics Entertainment as well as rights to co-develop and co-produce animated properties based upon selected Archie comics characters as well as Josie and the Pussycats and Sabrina, the Teenage Witch. IDT has also entered into a joint venture with the Christian Broadcasting Network to develop and distribute family-friendly programming. IDT Entertainment also owns a minority interest in Stan Lee’s POW! Entertainment. In connection with IDT Entertainment’s investment in POW!, the companies agreed to co-develop and co-produce a minimum of six animation projects for Direct-to-DVD distribution and broadcast. Recently, IDT Entertainment entered into a multi-faceted development, production, and distribution agreement with Todd McFarlane Productions (TMP) to produce animated programming and merchandise based on Spawn and other TMP original intellectual properties.

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., June 10, 2004 – IDT Entertainment today announced its management team and the appointment of John W. Hyde as Chief Operating Officer of IDT Entertainment. Mr. Hyde will also continue in his present position as Chief Executive Officer of DPS/Film Roman Inc., a division of IDT Entertainment. IDT Entertainment is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company.

John W. Hyde joins IDT Entertainment’s experienced team of entertainment industry executives. The management team will report to Steve Brown, Chairman of IDT Entertainment and Morris Berger, IDT Entertainment’s CEO. IDT Entertainment’s management executives include Yehuda Wurtzel, President of Production and Chief Technical Officer of IDT Entertainment, Ted Green, CEO of Anchor Bay, Dan Krech, President of DKP Effects, Jackie Lynette, CEO of DKP Effects and Rick Mischel, CEO of Mainframe Entertainment. As COO of IDT Entertainment, Mr. Hyde will be responsible for coordinating the operations of DPS/Film Roman, Mainframe Entertainment, Anchor Bay Entertainment, DKP Effects and Digital Production Solutions, divisions of IDT Entertainment.

“IDT Entertainment has assembled a management team of entertainment industry superstars with years of experience in all aspects of the entertainment business,” said Jim Courter, IDT’s CEO. “Inspired by the same combination of solid business strategy and entrepreneurial spirit that has made IDT Corporation a world-class telecommunications industry leader, this group of hands-on professionals is well on its way to building IDT Entertainment into the entertainment company for the 21st Century.”

John W. Hyde’s career in entertainment includes leadership positions in production, distribution, management consulting and restructuring for entertainment companies. He served as Chief Executive Officer of MCEG Sterling Inc, which he merged into Orion Pictures and subsequently into MGM. As an executive and/or producer, Hyde has overseen the distribution of more than 50 feature films and production of 21 motion pictures, including “Short Circuit,” “Flight of the Navigator,” “Eight Million Ways to Die,” “UHF,” “The Never-Ending Story,” “9 1/2 Weeks,” “The Clan of the Cave Bear” and the award-winning “Das Boot.” Hyde is a member of the Academy of Motion Picture Arts and Sciences, the Academy of Television Arts & Sciences and is the former Vice Chairman and board member of the American Film Marketing Association. He served as an officer and director of The Cousteau Society.

Yehuda Wurtzel, President of Production and Chief Technical Officer of IDT Entertainment, has worked in the entertainment industry as a writer, producer, director and designer for over three decades. His credits include “Lights” an animated television special that aired on ABC which featured the voice talents of Judd Hirsch, Paul Michael Glaser and Leonard Nimoy. Mr. Wurtzel’s blueprint for a software and digital production protocol, which succeeded in networking animation shops worldwide, formed the basis for the company that became Digital Production Solutions

Ted Green, CEO of Anchor Bay, IDT’s home video division, was founder and President of Sony Wonder, a subsidiary of Sony Music. As President of Sony Wonder, Mr. Green guided all aspects of sales, marketing, product development, artist and inter-company relations and acquisitions. Under his direction, Sony Wonder grew from a start-up family entertainment business in 1993 into a $100-plus million dollar company with worldwide reach.

Dan Krech, President of DKP Effects is a leading director and producer of visual effects for television commercials and feature films. He founded DKP in 1985. Today, DKP boasts an impressive list of visual effects and animation clients including Disney, Dreamworks, Sony/Columbia Tri-Star, Warner Brothers, 20th Century Fox and PBS/Nova.

Jackie Lynette, CEO of DKP Effects, has for the past 12 years performed dual roles at the company, CFO as well as CEO. Under her direction DKP has grown and prospered regardless of the business climate. As the company’s primary business strategist she has played a key role in DKP’s longevity and success.

Rick Mischel, CEO of Mainframe Entertainment is well known as an animation/entertainment industry leader. Prior to his position at Mainframe, Mischel served as President and COO of the Harvey Entertainment Company in Los Angeles. There he was responsible for all production, development, distribution, online development, operations, merchandising and business affairs for the NASDAQ publicly traded company.

“The management of our company is dedicated to one goal; making IDT Entertainment an industry leader,” said Steve Brown, Chairman of IDT Entertainment. “From the outset, we set our sights high. Two years ago, IDT Entertainment was a start-up. Today we’re the leading producer of primetime broadcast animation, a leading home video distributor and a film producer with three features and numerous television projects in production. And this is just the beginning.”

IDT Entertainment, a division of IDT Corporation, is a vertically integrated entertainment concern that develops, produces and distributes proprietary and licensed entertainment content, with a particular focus on high-quality animation. IDT Entertainment is in the early stages of production on two proprietary CG animated feature films, Gene Roddenberry’s Starpoint Academy and a feature yet to be named, directed by Christopher Reeve. IDT Entertainment consists primarily of the following wholly owned or controlled subsidiaries:

· Anchor Bay Entertainment is one of the largest independent home video distributors of DVDs and videos to retail outlets, and has a significant presence in the children’s, horror and fitness genres. Anchor Bay’s library consists of over 3,500 owned or licensed titles, including the Thomas the Tank Engine series, the Halloween series and the Crunch fitness series.

· Digital Production Solutions, or DPS, is a Computer Generated (CG) animation production company. DPS’s proprietary Global Animation Studio platform enables numerous animators at diverse locations to work cooperatively and simultaneously on the same animation project utilizing IDT’s telecommunications infrastructure.

· DPS Film Roman is a leading third-party provider of television animation services and special effects. Film Roman has been the animation studio for The Simpsons, King of the Hill, and Tripping the Rift, now airing on the Sci-Fi network.

· Mainframe Entertainment is a leading provider of CG animation for television and direct-to-video products such as the Barbie DVD collection for Mattel, Popeye and Scary Godmother.

· DKP Effects is a 3-D animation, and special effects productioncompany, well known for its innovative work for movies and television.

IDT Entertainment has completed several investments and joint ventures to secure access to brand name characters and content as well as distribution channels for family-friendly content. In July 2003, IDT purchased a minority equity interest in Vanguard Animation and entered into a joint venture with Vanguard to co-produce and co-own future Vanguard properties distributed in theaters, direct-to-video and on television. Vanguard Animation is a CG animated feature film company founded by John Williams, the originating producer of Shrek. Vanguard’s initial production, Valiant, is the first in a series of four Vanguard-produced films to be distributed by Disney. IDT Entertainment has an equity interest in Archie Comics Entertainment as well as rights to co-develop and co-produce animated properties based upon selected Archie comics characters as well as Josie and the Pussycats and Sabrina, the Teenage Witch. IDT has also entered into a joint venture with the Christian Broadcasting Network to develop and distribute family-friendly programming. IDT Entertainment also owns a minority interest in Stan Lee’s POW! Entertainment. In connection with IDT Entertainment’s investment in POW!, the companies agreed to co-develop and co-produce a minimum of six animation projects for Direct-to-DVD distribution and broadcast. Recently, IDT Entertainment entered into a multi-faceted development, production, and distribution agreement with Todd McFarlane Productions (TMP) to produce animated programming and merchandise based on Spawn and other TMP original intellectual properties.

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.

· Revenues Up 24.4% Year-over-Year to a Record $565.7 Million
· Gross Profit Dollars Up 27.1% Year-over-Year, to a Record $136.9 Million
· IDT Entertainment Revenues Surge for Second Consecutive Quarter; Division Generates Operating Income
· Reorganization of IDT Solutions/Winstar Well Underway

NEWARK, N.J. — June 10, 2004 —IDT Corporation (NYSE: IDT, IDT.C) today reported record revenues of $565.7 million for the third quarter of its Fiscal Year 2004, the three months ended April 30, 2004. Revenues for the third quarter increased 7.3% from the prior quarter and 24.4% year-over-year.

Gross profits for the third quarter of Fiscal Year 2004 were $136.9 million, or 24.2% of revenues, as compared to gross profits of $130.9 million, or 24.8% of revenues last quarter, and gross profits of $107.8 million, or 23.7% of revenues, in the third quarter of Fiscal Year 2003. SG&A expenses in the quarter increased to 23.3% of revenues, compared with 22.0% in the preceding quarter and 23.1% in the year-ago period. On May 12, 2004, the Company announced a reorganization of its Winstar/IDT Solutions division and a reutilization plan for the Winstar assets. The Company recorded restructuring and impairment charges of $39.9 million in the quarter, of which $28.1 million related to the reorganization of Winstar/IDT Solutions and $10.4 million related to undersea fiber that Tycom was to deliver to IDT in connection with the settlement of a litigation, but failed to do.

The loss from operations for the third quarter of Fiscal Year 2004 was $58.4 million, compared to losses from operations of $16.2 million and $37.9 million for the second quarter of Fiscal Year 2004 and the third quarter of Fiscal Year 2003, respectively. The net loss for the third quarter of Fiscal Year 2004 was $76.8 million, or ($0.84) per share, as compared to a net loss of $9.3 million, or ($0.12) per share, in the third quarter of Fiscal Year 2003.

Cash balances and marketable securities stood at $1.045 billion, including $136.8 million held by Net2Phone, as of the close of the third quarter of Fiscal Year 2004.

Please click on “Attachment” for the entire release, which includes the financial tables. The financial tables also are presented separately in the Financials section of the IDT Corporation IR website.

NEWARK, N.J. – June 2, 2004 – Please join us for the IDT Corp. (NYSE: IDT and IDT.C) third quarter conference call when we report results for the period ended April 30, 2004, along with an update of our current financial status.

Our conference call is scheduled for Thursday, June 10, at 4:30 PM (EDT). 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. You may access the webcast of our call by visiting the IDT Corp. website (www.idt.net). A direct link to the call will be found on the IDT Corporation home page, and at the following hyperlink:
Click here

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 is 1-866-594-2183 for domestic callers, and 1-973-935-8583 for international callers.

Should you miss the call, you may access an archived copy at the IDT website (in the Investor Relations section’s Presentations), or via a replay at 1-877-519-4471 — passcode #4839932 for domestic callers, or 1-973-341-3080 — passcode #4839932 for international callers. The teleconference replay will be available for one week after the conference call.

We look forward to your participation.

Newark, N.J. May 13, 2004 – IDT Entertainment today announced it has signed an agreement to acquire Manga Entertainment, a film company specializing in the production, distribution and worldwide marketing of Japanese animation or “anime” for home video releases, theatrical, and television broadcast. “Anime,” a form of animation developed in Japan, is derived from and styled after Japanese comic books. IDT Entertainment is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company.

Established in 1991 in London, UK, Manga Entertainment is one of the largest distributors of Japanese “anime” outside of Asia, with rights to over 300 titles. Over the last 10 years, the company has played an important role in establishing the market for “anime” in Europe and the United States. In 2003, the worldwide market for anime, including theatrical, broadcast television and direct to consumer products was estimated at over 2 billion dollars.

“In a little more than two years IDT Entertainment has established itself as a worldwide entertainment leader,” said Jim Courter, IDT’s CEO. “IDT Entertainment leads the world in primetime broadcast animation programming, and is quickly emerging as a top producer of animated feature films. Now, with the acquisition of Manga Entertainment, IDT Entertainment has a foothold in the hottest genre of “anime” style projects coming out of Asia. It will allow IDT Entertainment to develop and co-produce new titles for worldwide broadcast and distribution.”

Manga Entertainment gained international acclaim with its co-production of the Japanese animated sci-fi thriller “Ghost in the Shell,” the first and only Japanese animated film to reach No. 1 on the Billboard Top Video Sales Chart. “Ghost in the Shell” won awards at The World Animation Festival for Best Theatrical Film and for Best Director of a Theatrical Feature Film. A new, related television series has been scheduled to air late 3rd quarter of 2004 on the Cartoon Network. In the past seven years, the US division of Manga Entertainment has released over 200 titles on DVD and VHS into U.S. retail and rental stores, with over 100 titles currently active.

“With the acquisition of Manga, IDT Entertainment instantly moves into the top rank of ‘anime’ distribution companies,” said Morris Berger, CEO of IDT Entertainment. “’Anime’, along with 3-D Computer Generated (CG) animation, is driving the worldwide growth and popularity of animation. With this acquisition we gain a library of popular titles in an important genre that will add significant strength to Anchor Bay’s position in the marketplace as a leading video distribution company. IDT Entertainment is one of the few animation companies with the depth, resources and technology to develop and market properties worldwide.”

IDT Entertainment, a division of IDT Corporation, is a vertically integrated entertainment concern that develops, produces and distributes proprietary and licensed entertainment content, with a particular focus on high-quality animation. IDT Entertainment is in the early stages of production on two proprietary CG animated feature films, Gene Roddenberry’s Starpoint Academy and a feature yet to be named, directed by Christopher Reeve. IDT Entertainment consists primarily of the following wholly owned or controlled subsidiaries:

·Digital Production Solutions, or DPS, is a Computer Generated (CG) animation production company. DPS’s proprietary Global Animation Studio platform enables numerous animators at diverse locations to work cooperatively and simultaneously on the same animation project utilizing IDT’s telecommunications infrastructure.
·Anchor Bay Entertainment is one of the largest independent distributors of DVDs and videos to retail outlets, and has a significant presence in the children’s, horror and fitness genres. Anchor Bay’s library consists of over 3,500 owned or licensed titles, including the Thomas the Tank Engine series, the Halloween series and the Crunch fitness series.
·DPS Film Roman is a leading third-party provider of television animation services and special effects. Film Roman has been the animation studio for The Simpsons, King of the Hill, and Tripping the Rift, now airing on the Sci-Fi network.
·Mainframe Entertainment is a leading provider of CG animation for television and direct-to-video products such as the Barbie DVD collection for Mattel, Popeye and Scary Godmother.
·DKP Effects is a 3-D animation, and special effects production company, well known for its innovative work for movies and television.

IDT Entertainment has completed several investments and joint ventures to secure access to brand name characters and content as well as distribution channels for family-friendly content. In July 2003, IDT purchased a minority equity interest in Vanguard Animation and entered into a joint venture with Vanguard to co-produce and co-own future Vanguard properties distributed in theaters, direct-to-video and on television. Vanguard Animation is a CG animated feature film company founded by John Williams, the originating producer of Shrek. Vanguard’s initial production, Valiant, is the first in a series of four Vanguard-produced films to be distributed by Disney. IDT Entertainment has an equity interest in Archie Comics Entertainment as well as rights to co-develop and co-produce animated properties based upon selected Archie comics characters as well as Josie and the Pussycats and Sabrina, the Teenage Witch. IDT has also entered into a joint venture with the Christian Broadcasting Network to develop and distribute family-friendly programming. IDT Entertainment also owns a minority interest in Stan Lee’s POW! Entertainment. In connection with IDT Entertainment’s investment in POW!, the companies agreed to co-develop and co-produce a minimum of six animation projects for Direct-to-DVD distribution and broadcast. Recently, IDT Entertainment entered into a multi-faceted development, production, and distribution agreement with Todd McFarlane Productions (TMP) to produce animated programming and merchandise based on Spawn and other TMP original intellectual properties.

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., May 12, 2004 – IDT Corporation (NYSE: IDT, IDT.C), a multinational communications company, today announced a reorganization of its Winstar/IDT Solutions division. As part of the reorganization, the division plans to discontinue the provision of retail communications services to commercial customers in the markets it currently serves*. The discontinuance applies to retail commercial customers; it does not negatively affect services to wholesale customers, including cable telephony customers, nor does it affect federal government customers and state contract customers, whose services will be preserved.

The division’s assets will be redirected towards providing private line services, wholesale services and spectrum leasing to telecommunications companies and mobile and fixed line carriers, as well as backhaul services.

“We recognize that the future of telecommunications is quickly moving away from traditional wired service towards new technologies,” said Howard Jonas, IDT’s Chairman. “Winstar/IDT Solutions’ fixed wireless assets and technology are perfectly positioned to play a critical role in the development of these technologies, including WiFi and cellular backhaul.”

Fixed wireless technology provides a flexible and cost effective “last mile” solution for voice and data traffic. In addition, fixed wireless provides essential “backhaul” services needed by cell phone operators, and WiFi providers for their telephony products.

“This reorganization directs Winstar/IDT Solutions’ assets to the sectors of the telecom marketplace with the greatest potential for growth,” said Jim Courter, IDT’s CEO. “We are aggressively pursuing agreements with other carriers and cellular companies as well as integrating Winstar/IDT Solutions’ assets into IDT’s recently announced WiFi phone service.”

The reorganization will achieve significant cost reductions through the elimination of unprofitable business services and staff reductions, and is expected to cut the division’s losses significantly. In addition, Winstar’s assets will be integrated into IDT Telecom’s U.S. network, resulting in greater network efficiency and reduced capital expenditures.

IDT expects that the total cost of this reorganization will be approximately $50 million, of which approximately $25 million previously has been accrued for or reserved. IDT expects that by the end of the first quarter of fiscal 2005, IDT Corporation, as well as each of its three subsidiaries, IDT Telecom, IDT Entertainment and the newly formed IDT Menlo Park division will be generating positive cash flow from operations. IDT’s Menlo Park division is comprised of IDT Media, Horizon Global Trading, Approach and IDT Energy.

IDT Corporation is a multinational communications company. IDT’s primary telecommunications offerings are prepaid and rechargeable calling cards, wholesale carrier services and consumer and business local and long distance phone services. IDT’s entertainment business is comprised of complementary operations and investments that enable IDT to acquire, develop, finance, produce and distribute animated and other entertainment content. IDT also operates various media-related businesses including brochure distribution and radio operations. 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 in which the words “will,” “anticipate,” “expect,” “seek,” “intend,” “estimate, “target” and similar expressions are used, 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. Such factors include, but are not limited to: competition and pricing pressures in the telecommunications markets; IDT Solutions’ ability to successfully market its fixed wireless assets and technology to the WiFi and cable telephony markets; unexpected costs that may be incurred in scaling back IDT Solutions’ network, services and operations; and those factors 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.

*Alaska, Alabama, Arkansas, Arizona, California, Colorado, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Mexico, New York, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, D.C., Washington State, Wisconsin, West Virginia and Wyoming.

NEWARK, N.J. – May 12, 2004 – IDT Corporation announced today that its IDT Telecom subsidiary posted a record daily number of telecommunications minutes-of-use on Sunday, May 9, 2004, which coincided with the Mother’s Day holiday. Minutes-of-use amounted to approximately 90.8 million minutes, breaking the previous record of 88.8 million minutes, set on December 31, 2003. This year’s Mother’s Day minutes-of-use total represents a 21% increase from last Mother’s Day’s total. IDT Corporation (NYSE: IDT, IDT.C) is a multinational carrier, telephone and technology company.

“Visiting mom and sending flowers are Mother’s Day traditions, but millions of people send their love long distance with a phone call,” said Jim Courter, IDT’s CEO. “Setting a calling record on a holiday is great. But more important is that IDT continues to grow and provide affordable telecommunications services to people around the globe.”

Whether using calling cards, Long Distance service or Local phone service, more consumers than ever before are selecting IDT as their phone company. From January 2004 to April 2004, retail minutes of use increased by 13% over the same period in 2003 and wholesale minutes increased by 21%.

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 national 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 Media is the IDT subsidiary principally responsible for the Company’s initiatives in radio broadcasting, brochure distribution and new video technologies. Winstar Holdings, LLC, which provides service under the IDT Solutions brand, is the IDT subsidiary focused on providing broadband and telephony services to commercial and governmental customers through a fixed-wireless and fiber infrastructure. Net2Phone, Inc., a subsidiary of IDT Corporation, is a leading 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.

Important Note: In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which 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 are used. 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. and Tempe, AZ – May 12, 2004 –IDT Entertainment and Todd McFarlane Productions (TMP) today jointly announced a multi-faceted development, production, and distribution agreement to produce animated programming and merchandise based on Spawn and other TMP original intellectual properties. Todd McFarlane Productions is best known for its multiple Emmy-winning Spawn franchise. IDT Entertainment is a vertically integrated entertainment/animation company. The company includes animation and film production through DPS/Film Roman, Mainframe Entertainment, and DKP Effects, and video distribution through Anchor Bay Entertainment. IDT Entertainment is a subsidiary of IDT Corporation (NYSE:IDT, IDT.C.), a multinational carrier, telephone and technology company.

According to the terms of the agreement, the initial project is the return of “Todd McFarlane’s Spawn: The Animated Series.” Spawn is the story of a highly decorated U.S soldier, brutally executed by his own men. Reborn as a creature from hell, he fights a constant battle between the forces of good and evil. The first Spawn series aired on HBO from 1997 through 1999 and won two Emmy awards. Spawn, one of the world’s best-selling comic books with hundreds of millions sold worldwide, has also been the subject of a live action feature film released in 1997. Distributed by New Line Cinema, the movie version of Spawn has grossed over $100 million internationally.

“This agreement is better than Marvelous,” said Jim Courter, IDT’s CEO. “Worldwide, the demand for a new Spawn series continues to grow. The first series broke new creative ground for an animated series and was its generation’s most popular comic franchise. With IDT Entertainment as the animation partner the new series will be even better.”

Grammy- and Emmy-winning Producer/Director Todd McFarlane will oversee all aspects of development and production, as executive producer. Terence Fitzgerald, senior vice president of creative development of Todd McFarlane Productions, will serve as co-executive producer, and Sidney Clifton, senior vice president and head of programming and development for DPS Film Roman, will lead the creative development team on the IDT Entertainment side. DPS Film Roman is the IDT Entertainment company known for its award-winning production work on “The Simpsons,” “King of the Hill,” and other popular broadcast television programs.

“Ever since the Spawn animated series left HBO in 1999, I have been asked — almost daily — when the show is going to return,” said Todd McFarlane, Spawn creator and CEO of the McFarlane Companies. “I’ve been waiting for the right opportunity to not only bring the show back, but also do it with the intent of making it better creatively than its first incarnation. Teaming up with IDT Entertainment’s DPS/Film Roman will allow us to take it to the next level of animation technology.”

According to the agreement, in addition to Spawn, Todd McFarlane will create two additional animated properties. All three projects include animated broadcast television series, DVDs, feature films, video games, apparel and action figures, as well as other consumer products. McFarlane Toys, one of the world’s premier toy manufacturers, is currently on its 25th figure line for Spawn action figures and merchandise.

“The long awaited new Spawn series provides the perfect opportunity to match Todd McFarlane’s legendary creative genius with IDT Entertainment’s innovative animation expertise,” said Morris Berger, CEO of IDT Entertainment. “Spawn will mark the start of a long term relationship. Together, IDT Entertainment and Todd McFarlane can revolutionize comic animation and develop franchise properties of enduring value.”

The McFarlane Group of companies produces award winning animated television, feature films, and music videos. Past projects include Pearl Jam’s animated music video Do the Evolution, Korn’s mini-movie-style video for Freak on a Leash, Jodie Foster’s critically acclaimed The Dangerous Lives of the Altar Boys. Animation and live-action projects under the production of McFarlane and Fitzgerald have won a Grammy, two Emmys, two MTV Music Awards, and a Much Music Video Music Award. A leader in publishing and entertainment, The McFarlane Group owns the rights and trademarks to more than 250 intellectual properties and characters. The company is the fifth largest U.S. action figure manufacturer, featuring Spawn, Elvis, The Matrix, Ozzy Osbourne, NASCAR drivers, Beatles, KISS, Alien Vs. Predator, plus officially licensed football, baseball, basketball and hockey action figures. More information at Spawn.com

IDT Entertainment, a division of IDT Corporation, is a vertically integrated entertainment concern that develops, produces and distributes proprietary and licensed entertainment content, with a particular focus on high-quality animation. IDT Entertainment is in the early stages of production on two proprietary CG animated feature films, Gene Roddenberry’s Starpoint Academy and a feature yet to be named, directed by Christopher Reeve. IDT Entertainment consists primarily of the following wholly owned or controlled subsidiaries:

·Digital Production Solutions, or DPS, is a Computer Generated (CG) animation production company. DPS’ proprietary Global Animation Studio platform enables numerous animators at diverse locations to work cooperatively and simultaneously on the same animation project utilizing IDT’s telecommunications infrastructure.
·Anchor Bay Entertainment is one of the largest independent distributors of DVDs and videos to retail outlets, and has a significant presence in the children’s, horror and fitness genres. Anchor Bay’s library consists of over 3,500 owned or licensed titles, including the Thomas the Tank Engine series, the Halloween series and the Crunch fitness series.
·DPS Film Roman is a leading third-party provider of television animation services and special effects. Film Roman has been the animation studio for The Simpsons, King of the Hill, and Tripping the Rift, now airing on the Sci-Fi network.
·Mainframe Entertainment is a leading provider of CG animation for television and direct-to-video products such as the Barbie DVD collection for Mattel, Popeye and Scary Godmother.
·DKP Effects is a 3-D animation, and special effects production company, well known for its innovative work for movies and television.

IDT Entertainment has completed several investments and joint ventures to secure access to brand name characters and content, as well as distribution channels for family-friendly content. In July 2003, IDT purchased a minority equity interest in Vanguard Animation and entered into a joint venture with Vanguard to co-produce and co-own future Vanguard properties distributed in theaters, direct-to-video and on television. Vanguard Animation is a CG animated feature film company founded by John Williams, the originating producer of Shrek. Vanguard’s initial production, Valiant, is the first in a series of four Vanguard-produced films to be distributed by Disney. IDT Entertainment also has an equity interest in Archie Comics Entertainment as well as rights to co-develop and co-produce animated properties based upon selected Archie comics characters as well as Josie and the Pussycats and Sabrina, the Teenage Witch. IDT has also entered into a joint venture with the Christian Broadcasting Network to develop and distribute family-friendly programming. IDT Entertainment also owns a minority interest Stan Lee’s POW! Entertainment. In connection with IDT Entertainment’s investment in POW!, the companies agreed to co-develop and co-produce a minimum of six animation projects for Direct-to-DVD distribution and broadcast.

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.