Newark NJ, December 17, 2003 – IDT Entertainment today announced that it has engaged Christopher Reeve to direct an original feature length animated film. Mr. Reeve is well known for his portrayal of Superman in 4 feature films and for starring roles in the Bostonians, Somewhere in Time and The Remains of the Day. In addition, Mr. Reeve is a distinguished writer, producer and director. In 1997 he was nominated for an Emmy for directing the HBO film In The Gloaming. IDT Entertainment is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company.

“Christopher Reeve is a man I deeply admire. His ‘can do’ attitude is inspiring,” said Howard Jonas, IDT’s Founder and Chairman. “Without question, he is a true American superhero. His courage, integrity and professional accomplishments are not the stuff of fiction – they’re real life.”

Digital Production Solutions (DPS), IDT Entertainment’s animation unit, will provide complete production services on the film. Mr. Reeve will oversee the entire production process, from character development, casting and set design through animation, lighting, texturing and postproduction.

“This agreement writes a new chapter in IDT’s ongoing success story,” said Jim Courter, CEO of IDT Corporation. “IDT revolutionized Telecom, now we’re doing the same for high quality, 3-D Computer Generated (CG) animation. We’re pleased that Christopher Reeve shares our vision and that he’s put his stamp of approval on this film.”

“Many projects cross my desk but only a few are truly captivating,” said Christopher Reeve. “With the perfect blend of warmth and wit, this is a story with universal appeal that both children and their parents will love.”

The film is an urban fable set in the 1930’s, and is expected to be completed in early 2005.

“This project required a director with a combination of experience and creativity,” said Morris Berger, CEO of IDT Entertainment. “Christopher Reeve was our first choice. We’re thrilled that he will shape and guide this film from concept to completion.”

In March 2003, Digital Production Solutions (DPS), now a unit of IDT Entertainment, acquired rights to Starpoint Academy and Char, both Gene Roddenberry creations. Starpoint Academy is presently in production. In May 2003, IDT Entertainment acquired a controlling interest in Film Roman, Inc., the animation company well known for its production work on The Simpsons, King of the Hill, and other popular broadcast television programs. In July 2003, IDT Entertainment acquired a minority equity interest in Vanguard Animation, LLC. Under the terms of the Vanguard Animation investment, IDT Entertainment was granted a first look right to provide production services on future Vanguard Animation projects. IDT and Vanguard Animation also entered into a joint venture agreement to jointly develop, produce, finance and arrange distribution of computer generated (CG) animation entertainment. In December 2003, IDT Entertainment acquired a controlling interest in Mainframe Entertainment Inc., a Vancouver, Canada based entertainment company well known for producing CG animation for films, television, videogames and the direct-to-consumer market. In December 2003, IDT Entertainment acquired Anchor Bay Entertainment Group from Handleman Company.

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. Liberty Media Corporation holds a 5% stake in IDT Telecom and also owns 5.6% stakes in IDT Entertainment and IDT Media.

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. 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, NJ, December 11, 2003 – IDT Entertainment today announced that it has agreed with NorthStar Entertainment Group, Inc., a subsidiary of the Christian Broadcasting Network, Inc. (CBN), to create a joint venture that will develop, produce and distribute family friendly entertainment programming. IDT Entertainment is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company.

“Jim Courter, IDT’s CEO and I feel this match is made in heaven. It links two innovative communications companies, IDT Entertainment and The Christian Broadcasting Network,” said Howard Jonas, IDT’s Founder and Chairman. “By connecting IDT Entertainment’s proprietary animation technology and original programming, with CBN’s loyal audience, international reach and the credibility of Pat Robertson, its visionary leader, this joint venture creates a new distribution channel with the potential for reshaping the entertainment landscape for positive family entertainment.”

Pat Robertson, Founder and CEO of CBN adds, “I am a great fan of Howard Jonas, the founder of IDT. His business acumen is astounding. Even greater is his personal integrity. I believe that the joint venture between a division of IDT and a subsidiary of CBN will provide exciting family entertainment products for a wide segment of the American public, which I greatly applaud.”

Both IDT and CBN believe there is a serious lack of family friendly entertainment today and this partnership is intended to fill that void in American culture.

According to the terms of the agreement, the joint venture will develop, produce, distribute and promote family friendly programming and related products through direct marketing and retail. The initial programming will include “Hip Hop & Hamilton,”
a 3-D, computer generated (CG) animated series, created and produced by IDT Entertainment. Intended for a pre-school audience, this edutainment series uses music and original characters to entertain and engage children while it prepares and encourages them to read.

IDT Entertainment and CBN also intend to co-develop and co-produce additional positive family entertainment programming. CBN will contribute archived interviews from the “700 Club,” selected by Dr. Robertson. CBN will also contribute films, programs and videos to the joint venture.

“This is a powerhouse deal that will do for family friendly entertainment programming what Oprah did for books,” said Morris Berger, CEO of IDT Entertainment. “This agreement perfectly demonstrates what IDT Entertainment is all about, partnering with top notch companies and using our considerable animation, production and distribution capabilities to produce family entertainment with a positive moral message.”

In March 2003, Digital Production Solutions (DPS), now a unit of IDT Entertainment, acquired rights to Starpoint Academy and Char, both Gene Roddenberry creations. Starpoint Academy is presently in production. In May 2003, IDT Entertainment acquired a controlling interest in Film Roman, Inc., the animation company well known for its production work on popular broadcast television programs. In July 2003, IDT Entertainment acquired a minority equity interest in Vanguard Animation, LLC. Under the terms of the Vanguard Animation investment, IDT Entertainment was granted a first look right to provide production services on future Vanguard Animation projects. IDT and Vanguard Animation also entered into a joint venture agreement to jointly develop, produce, finance and arrange distribution of computer generated (CG) animation entertainment. In November 2003 IDT Entertainment entered into an agreement to purchase Anchor Bay Entertainment Group from Handleman Company. In December 2003, IDT Entertainment acquired a controlling interest in Mainframe Entertainment Inc., a Vancouver; Canada based entertainment company well known for producing CG animation for films, television, videogames and the direct-to-consumer market.

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 (with the Anchor Bay acquisition) 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. Liberty Media Corporation holds a 5% stake in IDT Telecom and also owns 5.6% stakes in IDT Entertainment and IDT Media.

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., December 11, 2003 – IDT Entertainment today announced that it has completed its purchase of Anchor Bay Entertainment Group, from Handleman Company. Anchor Bay is an independent home video company that licenses, markets and distributes a vast collection of films, television shows and direct-to-video programming for home entertainment through mass merchants and specialty stores. Anchor Bay will become an operating unit of IDT Entertainment, a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company.

Anchor Bay has many established long-term arrangements and utilizes a library of more than 3,500 owned or licensed titles. The company is known for its popular assortment of video collections and titles in a variety of genres, including: children’s (the Thomas The Tank Engine series); fitness (where the company’s leading industry position includes titles such as the Crunch series and the For Dummies series); horror (films and series such as Halloween, The Evil Dead, Hellraiser and Dawn Of The Dead); television (Highlander, Xena, Hercules, and Three’s Company); and theatrical.

In March 2003, Digital Production Solutions (DPS), now a unit of IDT Entertainment, acquired rights to Starpoint Academy and Char, both Gene Roddenberry creations. Starpoint Academy is presently in production. In May 2003, IDT Entertainment acquired a controlling interest in Film Roman, Inc., the animation company well known for its production work on popular broadcast television programs. In July 2003, IDT Entertainment acquired a minority equity interest in Vanguard Animation, LLC. Under the terms of the Vanguard Animation investment, IDT Entertainment was granted a first look right to provide production services on future Vanguard Animation projects. IDT and Vanguard Animation also entered into a joint venture agreement to jointly develop, produce, finance and arrange distribution of computer generated (CG) animation entertainment. In December 2003, IDT Entertainment acquired a controlling interest in Mainframe Entertainment Inc., a Vancouver, Canada based entertainment company well known for producing CG animation for films, television, videogames and the direct-to-consumer market.

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 (with the Anchor Bay acquisition) 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. Liberty Media Corporation holds a 5% stake in IDT Telecom and also owns 5.6% stakes in IDT Entertainment and IDT Media.

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. – December 4, 2003 – Please join us for the IDT Corp. (NYSE: IDT and IDT.C) first quarter conference call when we report results for the period ended October 31, 2003, along with an update of our current financial status.

Our conference call is scheduled for Thursday, December 11, at 8:00 AM (EST). 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 to listen to webcast.

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 #4245584 for domestic callers, or 1-973-341-3080 — passcode #4245584 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., December 3, 2003 – IDT Entertainment today announced that it has entered into a definitive agreement to purchase the Anchor Bay Entertainment Group, from Handleman Company (NYSE: HDL). Anchor Bay is an independent home video company that licenses, markets and distributes a vast collection of films, television shows and direct-to-video programming for home entertainment through mass merchants and specialty stores. Anchor Bay will become an operating unit of IDT Entertainment, a subsidiary of IDT Corporation (NYSE: IDT, IDT. C), a multinational carrier, telephone and technology company.

Anchor Bay has many established long-term arrangements and utilizes a library of more than 3,500 owned or licensed titles. The company is known for its popular assortment of video collections and titles in a variety of genres, including: children’s (the Thomas The Tank Engine series), fitness, (where the company’s leading industry position includes titles such as the Crunch series and the For Dummies series); horror (films and series such as Halloween, The Evil Dead, Hellraiser and Dawn Of The Dead); television, (Highlander, Xena, Hercules, and Three’s Company); and theatrical.

“IDT Entertainment is now a vertically integrated company with the ability to control its direct-to-consumer projects from concept to delivery,” said Jim Courter, IDT’s CEO. “With the acquisition of Anchor Bay, IDT Entertainment’s strategic plan moves into high gear. Just as IDT Corporation succeeded by providing consumers with superior global telecom products and services, so too will IDT Entertainment succeed by providing the public with the best in world class animation programming.”

The direct-to-consumer market is one of the fastest growing segments in the entertainment industry. The U.S. market for video and DVD sales reached $13.6 billion in 2002. Of that total, independent labels, like Anchor Bay, achieved a 13.5% market share in 2002 and saw their revenue increase from $1.12 billion in 2001 to $1.86 billion in 2002, a 64% increase.

“IDT Entertainment now has all the elements in place to build an entertainment industry powerhouse,” said Morris Berger, CEO of IDT Entertainment. “We have content we’ve acquired and created, a production capability to bring it to life, and now, with the acquisition of Anchor Bay, the distribution channel to deliver it to the public. The addition of Anchor Bay brings other opportunities as well. We intend to promote the titles currently in Anchor Bay’s catalog, enlarge its library and use its distribution channels to enhance our merchandising efforts.”

Closing of the Anchor Bay Entertainment transaction is expected to take place mid-December 2003. The transaction is subject to antitrust clearance and other closing conditions.

In March 2003, Digital Production Solutions (DPS), now a unit of IDT Entertainment, acquired rights to Starpoint Academy and Char, both Gene Roddenberry creations. Starpoint Academy is presently in production. In May 2003, IDT Entertainment acquired a controlling interest in Film Roman, Inc., the animation company well known for its production work on The Simpsons, King of the Hill, and other popular broadcast television programs. In July 2003, IDT Entertainment acquired a minority equity interest in Vanguard Animation, LLC. Under the terms of the Vanguard Animation investment, IDT Entertainment was granted a first look right to provide production services on future Vanguard Animation projects. IDT and Vanguard Animation also entered into a joint venture agreement to jointly develop, produce, finance and arrange distribution of computer generated (CG) animation entertainment. In December 2003, IDT Entertainment acquired a controlling interest in Mainframe Entertainment Inc., a Vancouver, Canada based entertainment company well known for producing CG animation for films, television, videogames and the direct-to-consumer market.

IDT Corp, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to its retail and wholesale customers worldwide. IDT Telecom, by means of its own national telecom backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance telephony and prepaid calling cards. IDT and Liberty Media Corp own 95% and 5% of IDT Telecom, respectively. Liberty Media Corp also owns 5.6% stakes in IDT Media and IDT Entertainment. IDT Media is the IDT subsidiary principally responsible for the Company’s initiatives in radio broadcasting, new video technologies and print media. IDT Entertainment, Inc. is the IDT subsidiary focused on developing, acquiring, producing and (with the Anchor Bay acquisition) distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. Winstar Holdings, LLC, which provides service under the IDT Solutions brand, is the IDT subsidiary through which we provide broadband and telephony services to commercial and governmental customers through a fixed-wireless and fiber infrastructure. Net2Phone, Inc., a subsidiary of IDT Corp, is a leading provider of high-quality global retail Voice over IP services, either directly or via a partner.

IDT Corp shares trade on the NYSE as IDT and IDT.C.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use 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 our 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, our ability to successfully integrate the operations of Anchor Bay Entertainment into the existing operations of IDT Entertainment, our ability to successfully operate a video distribution business, which is a line of business that we have not previously operated, as well as other factors affecting IDT Corp’s business generally, including those described in our 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. These factors include, but are not limited to, the following: potential declines in prices for our products and services; our ability to maintain and grow our retail telecommunications services, particularly our prepaid calling card business; availability of termination capacity; financial stability of our customers; our ability to maintain carrier agreements with foreign carriers; effectiveness of our marketing and distribution efforts; increased competition, particularly from regional bell operating companies; our ability to manage our growth; competitiveness of our Winstar subsidiary; impact of government regulation; our ability to obtain telecommunications products or services required for our products and services; and general economic conditions, particularly in the telecommunications markets. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or othewise.

Newark, N.J., December 2, 2003 – IDT Entertainment today announced that it has completed its acquisition of a controlling interest in Mainframe Entertainment, Inc., a creator of computer generated image (CGI) animation for feature films, TV and direct-to-video/DVD products. IDT Entertainment is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company.

Mainframe Entertainment, Inc. is one of the world’s most prolific producers of CGI animation for television and direct-to-video/DVD products, and is expanding into long-form CGI for feature films, commercials and interactive entertainment. In addition to its production of the award-winning “Barbie as Rapunzel” direct-to-video/DVD feature and the new Spider-Man animated series, the company created the animation, logo, and branding for the 2003 MTV Movie Awards. The company is best known as the pioneer of CGI animated television programming for the groundbreaking series “ReBoot.” Mainframe has produced over 240 half-hours of CGI animation since its inception in 1993. The company employs approximately 150 artists, animators, technicians and production personnel, and has won many prestigious awards for its creative technical innovations, including a Laureate of the 1998 Computerworld Smithsonian Awards.

In March 2003, Digital Production Solutions (DPS), now a unit of IDT Entertainment, acquired rights to Starpoint Academy and Char, both Gene Roddenberry creations. Starpoint Academy is presently in production. In May 2003, IDT Entertainment acquired a controlling interest in Film Roman, Inc., the animation company well known for its production work on The Simpsons, King of the Hill, and other popular broadcast television programs. In July 2003, IDT Entertainment acquired a minority equity interest in Vanguard Animation, LLC. Under the terms of the Vanguard Animation investment, IDT Entertainment was granted a first look right to provide production services on future Vanguard Animation projects. IDT and Vanguard Animation also entered into a joint venture agreement to jointly develop, produce, finance and arrange distribution of CG animation entertainment.

IDT Corporation, through its IDT Telecom, Inc. subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to its 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 telephony and prepaid calling cards. IDT and Liberty Media Corporation own 95% and 5% of IDT Telecom, respectively. Liberty Media Corporation also owns 5.6% stakes in IDT Media and IDT Entertainment. IDT Media, Inc. is the IDT subsidiary principally responsible for the Company’s initiatives in radio broadcasting, new video technologies and print media. IDT Entertainment, Inc. 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. Winstar Holdings, LLC, which provides service under the IDT Solutions brand, is the IDT subsidiary through which we provide 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, either directly or via a partner.

IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use 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 our 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 our 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. These factors include, but are not limited to, the following: potential declines in prices for our products and services; our ability to maintain and grow our retail telecommunications services, particularly our prepaid calling card business; availability of termination capacity; financial stability of our customers; our ability to maintain carrier agreements with foreign carriers; effectiveness of our marketing and distribution efforts; increased competition, particularly from regional bell operating companies; our ability to manage our growth; competitiveness of our Winstar subsidiary; impact of government regulation; our ability to obtain telecommunications products or services required for our products and services; and general economic conditions, particularly in the telecommunications markets. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

Newark N.J., November 12, 2003 – IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company today announced it has been awarded more than $21-million in an arbitration against Telefonica Internacional, S.A., (Telefonica).

The arbitration award resolves claims brought by IDT Corporation against Telefonica and Telefonica’s counterclaims. IDT filed a claim against Telefonica for breach of an agreement in the form of a Memorandum of Understanding signed in August of 1999. In essence, this agreement called for IDT to purchase 10% of a new company that would own and operate a submarine fiber optic network to be constructed by Telefonica around Latin America and for IDT to purchase at least a $100-million worth of capacity on that network over a five-year period. In addition, the parties were to establish a Joint Venture Company (“JVC”) that would use their respective corporate strengths to develop and jointly market products in “the Hispanic and such other markets as may be determined by the JVC in the United States and certain related markets in Latin America.”

In addition to the more than $21-million award to IDT, the arbitration panel ruled that all of Telefonica’s counterclaims against IDT were denied and dismissed.

IDT Corporation, through its IDT Telecom, Inc. subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to its 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 telephony and prepaid calling cards. IDT and Liberty Media Corporation own 95% and 5% of IDT Telecom, respectively. Liberty Media Corporation also owns a 5.6% stake in IDT Media. IDT Media, Inc. is the IDT subsidiary principally responsible for the Company’s initiatives in media, new video technologies and print media. Winstar Holdings, LLC is the IDT subsidiary through which we provide broadband and telephony services to commercial and governmental customers through a fixed-wireless and fiber infrastructure. In December 2002, we announced that the services offered by Winstar would begin to be offered under the name “IDT Solutions.” Net2Phone, Inc., a subsidiary of IDT Corporation, is a leading provider of high-quality global retail Voice over IP services, either directly or via a partner.

IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use 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 our 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 our 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. These factors include, but are not limited to, the following: potential declines in prices for our products and services; our ability to maintain and grow our retail telecommunications services, particularly our prepaid calling card business; availability of termination capacity; financial stability of our customers; our ability to maintain carrier agreements with foreign carriers; effectiveness of our marketing and distribution efforts; increased competition, particularly from regional bell operating companies; our ability to manage our growth; competitiveness of our Winstar subsidiary; impact of government regulation; our ability to obtain telecommunications products or services required for our products and services; and general economic conditions, particularly in the telecommunications markets. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

Newark, N.J., November 11, 2003 – IDT Corporation (NYSE:IDT, IDT. C), a multinational carrier, telephone and technology company, today announced the creation of IDT Entertainment Inc., a new business subsidiary which will incorporate Digital Production Solutions (DPS), IDT’s existing animation company, DPS/Film Roman and the joint venture and equity interest with Vanguard Animation. Upon completion of its purchase, Mainframe Entertainment will also become part of IDT Entertainment. The new company will focus initially on animation and manage the expansion into other entertainment areas.

Morris Berger has been named CEO of the new company. Mr. Berger served as Executive Vice President of IDT Media. Yehuda Wurtzel becomes President of Production and CTO of IDT Entertainment. Steve Brown, CFO of IDT Corp., assumes the added roles of Chairman and President of IDT Entertainment.

“The establishment of IDT Entertainment sets the stage for our expanding presence in the entertainment industry,” said Jim Courter IDT’s CEO. “Since last year, we’ve made strategic acquisitions of major production companies with world class animation programming and forged relationships with some of Hollywood’s top players. Presently, we’re in production on feature films, television programs and direct to DVD projects. Clearly, IDT Entertainment’s star is rising.”

Headquartered in Newark, N.J., IDT Entertainment currently maintains animation production hubs in New Jersey, Hollywood, Vancouver and Israel. In addition, the company has contractual agreements with numerous animation shops around the globe.

“The new company will be structured for efficiency and growth,” said Morris Berger, CEO of IDT Entertainment. “Within IDT Entertainment we will establish new divisions for project development, merchandising and distribution. The goal is increased entertainment production with more intellectual properties and expanded libraries in order to gain greater financial control over our many projects.”

Recently, DPS announced an agreement with BAF Berlin Animation Film to provide complete production services on “Happily N’Ever After,” a full-length 3-D animated film featuring the voice talents of Signourney Weaver, Sarah Michelle Gellar, Freddie Prinze Jr. George Carlin, Wallace Shawn, Andy Dick and Patrick Warburton.

In March 2003 DPS acquired rights to Starpoint Academy and Char, both Gene Roddenberry creations. Starpoint Academy is presently in production. In May 2003, DPS acquired a controlling interest in Film Roman, the animation company well known for its production work on The Simpsons, King of the Hill, and other popular broadcast television programs. In July 2003, DPS entered into a partnership agreement with Vanguard Animation to co-produce and co-own Vanguard properties. Vanguard has a deal in place with Disney to complete 4 CG features. The first film, Valiant is presently in production. Recently, Mainframe Entertainment signed a binding letter of intent towards its acquisition by IDT Entertainment.

IDT Corporation, through its IDT Telecom, Inc. subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to its 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 telephony and prepaid calling cards. IDT and Liberty Media Corporation own 95% and 5% of IDT Telecom, respectively. Liberty Media Corporation also owns a 5.6% stake in IDT Media. IDT Media, Inc. is the IDT subsidiary principally responsible for the Company’s initiatives in media, new video technologies and print media. Winstar Holdings, LLC is the IDT subsidiary through which we provide broadband and telephony services to commercial and governmental customers through a fixed-wireless and fiber infrastructure. In December 2002, we announced that the services offered by Winstar would begin to be offered under the name “IDT Solutions.” Net2Phone, Inc., a subsidiary of IDT Corporation, is a leading provider of high-quality global retail Voice over IP services, either directly or via a partner.

IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use 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 our 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 our 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. These factors include, but are not limited to, the following: potential declines in prices for our products and services; our ability to maintain and grow our retail telecommunications services, particularly our prepaid calling card business; availability of termination capacity; financial stability of our customers; our ability to maintain carrier agreements with foreign carriers; effectiveness of our marketing and distribution efforts; increased competition, particularly from regional bell operating companies; our ability to manage our growth; competitiveness of our Winstar subsidiary; impact of government regulation; our ability to obtain telecommunications products or services required for our products and services; and general economic conditions, particularly in the telecommunications markets. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

Newark, N.J., November 4, 2003 – IDT Media today announced the creation of Liberty Broadcasting System, a syndicated talk radio network that will be distributing programming nationwide. IDT Media is a division of IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company.

“Listeners need a place to go for intelligent talk besides NPR. That’s why IDT is bringing Liberty to radio broadcasting,” said Howard Jonas, IDT’s Founder and Chairman. “For too long people have been held captive to a limited number of views. Liberty Broadcasting will bring a diversity of opinions to the radio airwaves. Now listeners will have a place to go for insightful talk and reasoning without the bias.”

Liberty Broadcasting will feature original programming from some of the nation’s most influential political analysts and commentators including, editor of the Weekly Standard, William Kristol and former Director of the U.S. Commission on Civil Rights, Linda Chavez. Liberty will continue to broadcast many of the outstanding programs previously available through Talk America Radio Networks.

“With the addition of William Kristol and Linda Chavez to its programming lineup, Liberty Broadcasting has built a solid foundation for future growth,” said Jim Courter, IDT’s CEO. “From here, we plan to introduce additional programming, with broad appeal, which can be syndicated nationally. The result will make Liberty Broadcasting a major broadcast presence, and a refreshing alternative to the competition.”

On December 1, 2003, Liberty will premier both The Daily Agenda with William Kristol and The Linda Chavez Program. Mr. Kristol, widely acknowledged as the journalist decision-makers in the White House turn to for policy analysis and information, will broadcast a two-minute feature daily. The Daily Agenda with William Kristol will begin airing as a special feature on Doug Stephan’s Good Day. Good Day, one of America’s most popular morning shows is heard daily on over 200 radio stations nationwide.
The Linda Chavez Program will air Monday through Friday from 12pm to 2pm. Ms. Chavez, currently an analyst for Fox News, is well known for her many accomplishments in politics, journalism and public service. She has been a frequent guest on television journals like CNN & Co., The McLaughlin Group, Equal Time and the Newshour with Jim Lehrer.

“When Liberty Broadcasting talks, people listen,” said Trang Nguyen, COO of Liberty Broadcasting System. “Our talk show hosts bring insight and energy to every topic they cover whether it’s politics, policy or entertainment. This is not radio-lite. Liberty is radio with passion, real radio with meat on its bones.”

Ms. Chavez and Mr. Kristol join Liberty Broadcasting System’s existing programming lineup which includes: News You Care About, Second Thoughts and American Spirit with Mort Crim, For The People with Chuck Harder, Ask Heloise and Hints from Heloise, The Geoff Metcalf Program, Doug Stephan’s Good Day, and Doug Stephan’s Talk Radio Countdown, The Bruce Williams Show, The Lowell Ponte Show, Money Matters with Barry Armstrong and The Movie Show on Radio with Max Weiss and Mike Mayo.

IDT Corporation, through its IDT Telecom, Inc. subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to its 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 telephony and prepaid calling cards. IDT and Liberty Media Corporation own 95% and 5% of IDT Telecom, respectively. Liberty Media Corporation also owns a 5.6% stake in IDT Media. IDT Media, Inc. is the IDT subsidiary principally responsible for the Company’s initiatives in media, new video technologies and print media. Winstar Holdings, LLC is the IDT subsidiary through which we provide broadband and telephony services to commercial and governmental customers through a fixed-wireless and fiber infrastructure. In December 2002, we announced that the services offered by Winstar would begin to be offered under the name “IDT Solutions.” Net2Phone, Inc., a subsidiary of IDT Corporation, is a leading provider of high-quality global retail Voice over IP services, either directly or via a partner.

IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use 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 our 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 our 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. These factors include, but are not limited to, the following: potential declines in prices for our products and services; our ability to maintain and grow our retail telecommunications services, particularly our prepaid calling card business; availability of termination capacity; financial stability of our customers; our ability to maintain carrier agreements with foreign carriers; effectiveness of our marketing and distribution efforts; increased competition, particularly from regional bell operating companies; our ability to manage our growth; competitiveness of our Winstar subsidiary; impact of government regulation; our ability to obtain telecommunications products or services required for our products and services; and general economic conditions, particularly in the telecommunications markets. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.

NEWARK, N.J. — October 23, 2003 —IDT Corporation (NYSE: IDT, IDT.C) today reported record revenues of $485.7 million for the fourth quarter of its Fiscal Year 2003, the three months ended July 31, 2003. Revenues for the fourth quarter increased 6.8% from the third quarter, and 12.7% over the revenues recorded during the fourth quarter of Fiscal Year 2002. For Fiscal Year 2003, IDT recorded revenues of $1.8 billion, up 15.8% from Fiscal Year 2002.

Net income for the fourth quarter of Fiscal Year 2003 was $8.3 million, or $0.10 per diluted share. This compares with a net loss of $78.2 million, or ($0.99) per share, in Fiscal Year 2002’s fourth quarter, and a net loss of $9.3 million, or ($0.12) per share, in Fiscal Year 2003’s third quarter. For the Fiscal Year ended July 31, 2003, IDT recorded a net loss of $17.5 million or ($0.22) per share, compared with a net loss of $303.3 million or ($4.04) per share in Fiscal Year 2002.

As of the close of the fourth quarter of Fiscal Year 2003, consolidated cash, restricted cash, cash equivalents and marketable securities stood at $1.0 billion, which includes $94.1 million held by Net2Phone.

IDT recorded a loss from operations of $29.4 million for the fourth quarter of Fiscal Year 2003. This compares with a loss from operations of $158.6 million in Fiscal Year 2002’s fourth quarter, and a loss from operations of $37.9 million in Fiscal Year 2003’s third quarter. Excluding the $16.0 million loss from operations of Net2Phone (IDT’s Internet Telephony business segment)1, the loss from operations would have been $13.3 million in the fourth quarter of Fiscal Year 2003. This compares with a loss from operations of $141.1 million in Q4 of Fiscal Year 2002, and a loss from operations of $28.1 million in the third quarter of Fiscal Year 2003, a 52.3% sequential quarterly improvement.

For Fiscal Year 2003, consolidated SG&A expenses declined 6.6%, or $29.7 million from $451.5 million to $421.8 million, decreasing from 28.5% of Fiscal Year 2002 revenues to 23.0% of Fiscal Year 2003 revenues. SG&A expenses for Q4 of Fiscal Year 2003 were $14.7 million lower than in Q4 of Fiscal Year 2002, a 12.3% decline. Compared to the third quarter of Fiscal Year 2003, SG&A expenses were exactly even at $105.0 million. This amounted to 21.5% of Fiscal Q4 2003 revenues, versus 23.1% of Fiscal Q3 2003 revenues.

Click here for Year End Financial Tables

Please see attached document for entire release.