Newark, N.J. – June 10, 2003 — IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company, today announced that it has been selected as the exclusive calling card provider to Barnes & Noble College Bookstores Inc, the country’s leading manager of college and university bookstores. IDT will provide the company’s nearly 500 on-campus retail outlets with Barnes & Noble point-of-sale (POS) activated calling cards.

“Barnes & Noble College Bookstores is one of the most trusted names in higher education, selling millions of textbooks every year. We’re honored to be the service provider for their domestic and international phone cards,” said Jim Courter, IDT’s CEO. “With this agreement we significantly add to our growing point-of-sale activated card sales, and we begin to build new relationships with college students, the decision makers of tomorrow.”

The new calling cards will begin to appear in bookstores on June 30, 2003 replacing the existing cards. The cards will be sold in 3 denominations: $5, $10, and $20 cards with domestic and international capability and a customized $20 international calling card.

“Signing this agreement with Barnes & Noble College Bookstores rates an A+,” said Motti Lichtenstein, CEO of IDT Telecom. “Clearly it demonstrates IDT’s continued growth, and it’s a true textbook example of how our Private Label division can effectively compete in the point-of-sale market.”

“Many students rely upon phone cards to meet their communication needs,” said Max J. Roberts, President of Barnes & Noble College Bookstores, Inc. “We’re confident that working with IDT will be a great deal for students.”

Barnes & Noble College Bookstores, Inc. – a privately held sister company to Barnes & Noble, Inc., the nation’s largest bookseller – operates college bookstores at more than 400 institutions of higher education including: John Hopkins University, Columbia University, California State at Los Angeles, Yale University, University of Pennsylvania, University of Chicago and the Coops at Harvard and the Massachusetts Institute of Technology.

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. 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., which we reconsolidated effective August 1, 2002, 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. – June 10, 2003 – IDT Corporation today announced that Liberty Media Corporation (NYSE:L., LMC.B) has acquired a 5.6% stake in IDT Media. IDT Media is a division of IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, technology and telephone company.

“In my mind Liberty Media’s $25 million investment is a good indication that we’re on the right track,” said Jim Courter, IDT’s CEO. “In the coming months, IDT Media will continue to execute its core business strategy of pursuing ownership or co-ownership of select broadcast assets and entertainment properties on the way to creating a profitable media company.”

IDT Media’s assets include: Talk America Radio Networks, a syndicated radio network with over 700 national affiliate stations, WMET1150AM radio in Washington, D.C., IDT’s flagship radio station, the IDT Owned and Operated Radio Group and Digital Production Solutions, IDT Media’s 3-D animation unit. Recently, DPS announced the purchase of a controlling interest in Film Roman, the 2-D animation company well known for its production work on “The Simpsons,” “King of the Hill” and many other notable animation programs.

“With first rate talent and significant resources in place we’re ready to realize our potential,” said Mitch Burg, IDT Media’s CEO. “ The goal is to build on our recent successes by enhancing existing programming, creating original programming in both animation and broadcast, completing additional licensing and co-production agreements and developing products like the desktop delivery of TV news and information.”

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. 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., which we reconsolidated effective August 1, 2002, 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. — June 10, 2003 —IDT Corporation (NYSE: IDT, IDT.C) today reported record revenues of $454.9 million for the third quarter of its Fiscal Year 2003, the three months ended April 30, 2003. Revenues increased 13.2% over the third quarter of Fiscal Year 2002, and 0.9% over the second quarter of Fiscal Year 2003.

The net loss for the third quarter of Fiscal Year 2003 was $9.3 million, or $0.12 per share. This compares with a net loss of $49.6 million, or $0.64 per share, in Fiscal Year 2002’s third quarter, and a net loss of $12.5 million, or $0.16 per share, in Fiscal Year 2003’s second quarter. As of the close of the third quarter of Fiscal Year 2003, consolidated cash, restricted cash, cash equivalents and marketable securities stood at $1.059 billion, which includes $102 million held by Net2Phone.

Excluding Net2Phone, which was not consolidated by IDT in Fiscal Year 2002, revenues for the third quarter of Fiscal year 2003 were $435.3 million, an 8.4% increase from the third quarter of Fiscal Year 2002’s comparable revenues of $401.7 million. In the third quarter of Fiscal Year 2003, Net2Phone accounted for 4.3% of total revenues.

“Q3 saw IDT advancing on just about every front,” said Jim Courter, Vice Chairman and CEO. “In Telecom, our wholesale division continues to record double-digit quarterly growth, IDT Solutions has turned the corner by stabilizing revenue, and we have begun to transform IDT into an integrated communications and media company with the exciting developments at IDT Media.”

Please click on attachment above to view entire release.

Conference Call Scheduled for 4:30 pm (EDT)

NEWARK, N.J. – June 3, 2003 – 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, 2003, along with an update of our current financial status.

Our conference call is scheduled for Tuesday, 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 for the 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 1-800-277-9407 for domestic callers, and 1-706-634-08157 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 1-800-642-1687 — passcode #1286351 for domestic callers, or 1-706-645-9291 — passcode #1286351 for international callers. The teleconference replay will be available for one week after the conference call.

We look forward to your participation.

Newark, NJ, May 15, 2003 – IDT Media today announced that its animation production unit, Digital Production Solutions (DPS), pursuant to a letter agreement, will acquire a 51% interest in Film Roman, Inc., (ROMN.OB) a leading independent animation company, through the purchase of newly issued shares of Film Roman common stock. Film Roman is known for its production work on animated television programs including “The Simpsons” and “King of the Hill.” IDT Media is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company.

Film Roman, Inc. develops, produces and distributes a broad range of television programming for the television network, cable television, first-run domestic syndication and international markets. The company, founded in 1984 by acclaimed animator Phil Roman, has grown into one of the leading independent animation studios in the world. Film Roman has produced and continues to produce some of the world’s best known animated series, including “The Simpsons,” “King of the Hill,” “X-Men,” “The Mask,” “Bobby’s World,” “The Twisted Tales of Felix the Cat” and “Garfield & Friends.” Recently, the company announced it will be teaming up with Showtime Networks Inc. to bring to life the characters of Brett Merhar’s popular comic strip “Free For All” for Hi-Definition broadcast release in summer 2003.

“With 18 Emmys and program credits that include TV’s best loved, most successful primetime animated series, Film Roman is the broadcast industry’s leading animation company,” said Jim Courter, IDT’s CEO, and a Director of IDT Media. “With this acquisition, IDT Media’s Digital Production Solutions unit takes its place among the world’s animation production leaders.”

“Digital Production Solutions brings Film Roman the ability to combine our creative strengths with the incredible technological abilities of DPS. Together we will be able to innovate and build a powerhouse in animation, both 2D and CGI,” stated John Hyde, President and CEO of Film Roman, Inc.

Digital Production Solutions is aggressively pursuing the acquisition and licensing of program ideas and properties suitable for animation. These properties can now be jointly produced by DPS and Film Roman.

“This acquisition has great synergy and works well for both companies,” said Morris Berger, IDT Media’s Executive Vice President of Business Development. “By adding Film Roman’s 2-D animation expertise to our 3-D animation capability, we create a powerhouse animation company and at the same greatly enhance the profit potential of the companies’ productions using DPS’ proprietary production management protocol tools.”

In March of this year, DPS acquired rights to never-before-seen projects created by Gene Roddenberry. “Gene Roddenberry’s Starpoint Academy” and “Gene Roddenberry’s Char,” are the first original properties acquired by DPS. DPS is currently working on a co-production with Jim Jinkins and David Campbell of Cartoon Pizza, the creators of Doug, Stanley and PB&J Otter. In addition, the DPS studio has produced episodes of “Monster by Mistake” under an agreement with CCI Entertainment, Ltd to be broadcast in the United States, Canada, Australia and Germany.

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, NJ May 14, 2003 – IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company, today announced the launch of IDT Connect, a new conference calling service. IDT Connect is reservationless conferencing calling for consumers and businesses, priced well below the competition.

“IDT pioneered international call-back, developed Voice Over IP, revolutionized calling cards and now reinvented voice conferencing with IDT Connect,” said Howard Jonas, IDT’s Founder and Chairman. “IDT Connect is a home run for families and businesses. Dollar for dollar, this is the best voice conferencing product on the market. Whether it’s calling cards, long distance service or conference calling, giving consumers the best deal has become IDT’s trademark.”

IDT Connect enables IDT Long Distance customers to initiate a conference call with up to 25 participants. Calls can be made from any phone: home, office, cell or hotel room with toll-free access for just $.07 per minute, per line.

The new conferencing service has no connection, cancellation charges or monthly fees. It features a convenient toll-free number, password protection, an easy to use enrollment process and dedicated customer service. Charges appear on the customer’s regular monthly phone bill.

“IDT Connect is another example of IDT’s growing leadership in the telecommunications industry. Our customers asked for a straightforward and cost effective conferencing tool and we delivered,” said Jim Courter, IDT’s CEO. “IDT Connect is just one of the many enhanced features that IDT will be offering its Long Distance customers over the next few months.”

In October 2002, IDT’s consumer long distance service was given the “thumbs up,” the highest rating given by The Wall Street Journal, in its independent survey of cellular and long distance telephone companies. In a survey of long distance carriers, which reviewed all of the major carriers, including MCI, Sprint, AT&T and Verizon, IDT received the best overall ratings.

IDT Corporation, 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 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. IDT acquired the assets of Winstar Communications in December 2001.
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, NJ May 2, 2003 – Talk America Radio Network today announced that radio broadcaster and journalist Geoff Metcalf will host a live daily talk-radio program on the syndicated network. Talk America is a unit of IDT Media, a subsidiary of IDT Corporation (NYSE:IDT, IDT.C), a multinational carrier, telephone and technology company

“Geoff Metcalf Live,” a three-hour call-in talk radio program aptly described as news and analysis ahead of the mainstream, will focus on social issues, international and domestic news, and feature guest experts and newsmakers. The program launching early May 2003 will broadcast live every weekday from 10 pm to 1 am EST.

“We are moving quickly to build Talk America into the talk-radio leader for news and information programming,” said Jim Courter, IDT’s CEO. “As a columnist for the Sacramento Union, journalist and former Green Beret, Geoff Metcalf brings a unique perspective to Talk America Radio. By adding experienced broadcasters like Geoff Metcalf to our impressive line up of talk-radio hosts, we can expand the programming made available to our affiliate stations and increase our audience.”

Geoff Metcalf is a radio professional whose accomplishments as a journalist, author, military veteran and advertising executive lend perspective to his analysis on a broad range of topics. Mr. Metcalf, a skilled interviewer who tackles controversial issues head on, is well known for uncovering stories overlooked by others. Most recently, he hosted a radio talk-show, in San Francisco on the ABC Owned and Operated KSFO and subsequently was syndicated through WorldNetDaily.

“The best way to show we’re serious about building a solid radio network is by hiring some of the best people in the industry to be a part of it,” said Trang Nguyen, COO of Talk America. “Our network provides affiliates with hosts that deliver compelling, candid and passionate programming. We’re proud to welcome Geoff Metcalf to the Talk America family.”

IDT Media recently announced the formation of an Owned and Operated Stations Group that will help to expand Talk America’s broadcast base. Talk America’s broadcast personalities include Shmuley Boteach, Heloise, Mort Crim, Dr. Gabe Mirkin, Doug Stephan, Bruce Williams, Lowell Ponte and Chuck Harder. Talk America personalities can be heard by more than 5 million listeners a week on more than 700 affiliate radio stations nationwide and on the Talk America website, www.talkamerica.com. Talk America Radio Networks was acquired by IDT Media in November of 2001.

IDT Corporation, 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 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. IDT acquired the assets of Winstar Communications in December 2001.

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, NJ & Morristown, NJ – April 29, 2003 – IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company, and the National Football Foundation and the College Hall of Fame (NFF), today jointly announced IDT’s participation in the NFF’s “Play It Smart” program. “Play It Smart” is a nationwide program launched in 1998 that provides academic enrichment and direction to students-athletes from underserved communities. IDT’s support, which will run through 2007, specifically benefits students attending Newark, NJ public schools.

“Play It Smart” is designed to use the power of team sports to enhance the personal and academic development of students from economically underserved communities. The program provides schools with an “Academic Coach” who helps student-athletes take the lessons learned on the field and apply them in the classroom and the community. In addition, academic coaches coordinate support services, SAT prep classes, community service events, and other team-building activities throughout the entire school year.

“Play It Smart works. It improves academic performance, raises graduation rates and increases the number of students going on to higher education. In short it has a positive impact on students and local communities,” said Jim Couter, IDT’s CEO. “Our participation in ‘Play It Smart’ is another example of how IDT is investing in the future of the nation by providing people with the tools they need to succeed.”

In addition to Play It Smart, IDT community outreach programs in Newark include sponsorship of a literacy program and an “English as a second language” course at the Newark Public Library and the operation of a mobile soup kitchen that serves more than 1,000 meals each week. IDT also sponsors various programs at Rutgers Business School, New Jersey Institute of Technology, the Scholarship Fund for Inner City Children, the Newark Museum, the New Jersey Historical Society and The New Jersey Performing Arts Center.

“Through the ‘Play It Smart’ program, the NFF has worked hard to establish a systematic way for scholastic sports to help transform the lives of young people,” said Jon F. Hanson, Chairman of the NFF. “We are most appreciative of the leadership role that IDT has taken in expanding this highly successful program to the Newark public school system.”

“On behalf of the City of Newark, I’d like to thank IDT for their support in helping students attending Newark public schools realize the benefits of the ‘Play It Smart’ program,” said Newark City Councilman At Large Luis Quintana. “IDT’s contributions to the citizens and institutions of Newark continue to play an important role in Newark’s renewal.”

The National Football Foundation and College Hall of Fame is a multifaceted not-for-profit educational organization dedicated to the promotion of amateur football, its charactering building attributes, and the drive for academic excellence in America’s young people.

Through a network of 119 chapters located throughout the nation and a membership of over 12,000 strong, the NFF supports a number of initiatives, which promote the game, preserve its history, and ensure its future. The chapters emphasize the educational benefits associated with football and provide learning opportunities for parents, players and coaches. To date, over 33,000 national and local scholar-athletes have been recognized and awarded with more than $9 million in scholarship grants. In addition, thousands of local coaches, officials and administrators who have given themselves to the game have been honored with special awards.
In order to preserve the rich tradition, pageantry, and spirit of amateur football, The National Football Foundation created and operates one of the nation’s finest Hall of Fame facilities, The College Football Hall of Fame. Located in South Bend, Indiana, this state of the art interactive facility provides permanence to the history of the game honoring the gridiron legends, field generals, scholar-athletes and leaders in society who exemplify the Foundation’s creed of scholarship, citizenship, and athletic performance.

IDT Corporation, 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 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. IDT acquired the assets of Winstar Communications in December 2001.

IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C. As of March 13, 2003, there were about 54.4 million shares of Class B common stock outstanding, and about 25.1 million shares of common stock. Of these, approximately 4.0 million shares of Class B common stock and approximately 5.4 million shares of common stock were held by IDT Corporation.

NEWARK, N.J. – April 7, 2003 – IDT Corporation (NYSE:IDT, IDT.C), a multinational carrier, telephone and technology company, is pleased to announce that the Company has moved into 806th place on this year’s Fortune 1,000. IDT previously was ranked by Fortune at number 968. The new list is published in the April 14, 2003 edition of Fortune Magazine®.

“This is incredible. We’ve moved up the list past corporations like Briggs & Stratton, Martin Marietta, National Semiconductor, 3Com and Dun & Bradstreet, just to name a few. These companies are American institutions and household names,” said Howard Jonas, IDT’s Chairman. “I am very proud of this recognition. In less than a year, we’ve leaped ahead 162 spots from 968 to 806. If we keep growing at this rate, IDT could be in the Fortune 500 in less than 2 years!”

The Fortune 1,000 ranks the largest publicly traded U.S. corporations by annual revenues. At $1.532 billion, the magazine noted that IDT’s 2002 revenues are up more than 24% from the previous year.

“It’s very gratifying to see the hard work of our employees and management be rewarded with an impressive jump in the Fortune 1000 rankings,” said Jim Courter, IDT’s CEO. “While I’m pleased with IDT’s performance, I can not say that I’m surprised. IDT’s success is in large part the result of our discipline in staying the course. While we could have enjoyed a short life in the fast lane and built our company with debt, we chose the road less traveled. It might be a slower road, but it’s a surer path toward profitability. It’s a route paved with strategic acquisitions at rational prices, steady sustainable organic growth and a debt free balance sheet.”

On April 3, 2003, IDT announced that former Secretary of Housing and Urban Development, Jack Kemp, joined IDT’s Board of Directors. In addition to Mr. Kemp, IDT’s outside Directors include former CEO of University Optical Products, Inc, J. Warren Blaker, former U.S. Senator from Minnesota, Rudy Boschwitz, President Emeritus of the New Jersey Institute of Technology, Saul Fenster, Chairman of Stone Tower Capital LLC, Michael Levitt, President and CEO of Crystallex Inc, Marc J. Oppenheimer, former Vice Chairman of the Joint Chiefs of Staff, Admiral William Owens, Chairman of Canary Wharf Group plc, Paul Reichmann, and former Governor of Massachusetts, William Weld.

IDT Corporation, 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 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. IDT acquired the assets of Winstar Communications in December 2001.

IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C. As of March 13, 2003, there were about 54.4 million shares of Class B common stock outstanding, and about 25.1 million shares of common stock. Of these, approximately 4.0 million shares of Class B common stock and approximately 5.4 million shares of common stock were held by IDT Corporation.

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. April 3, 2003 – IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, technology and telephone company, is pleased to announce that Jack Kemp, former Secretary of Housing and Urban Development, has been appointed to IDT’s Board of Directors. For the past two years, Mr. Kemp has served on the Board of Directors of IDT Telecom, a subsidiary of IDT. With Mr. Kemp’s appointment, the IDT Board has nine outside directors and seven inside directors.

“With the appointment of Jack Kemp to our Corporate Board, we add a strong outside voice with experience and insight. And at the same time we reaffirm our commitment to good corporate governance through a highly qualified independent board of directors,” said Jim Courter, IDT’s CEO. “It was a privilege working closely with Jack Kemp during our years together in Congress and during his tenure on IDT Telecom’s Board. His wealth of governmental experience, knowledge of economics and ability to make reasoned business recommendations will be invaluable to IDT as it continues to grow.”

Jack Kemp is currently co-director of Empower America, a Washington, D.C.-based public policy and advocacy organization he co-founded in 1993 with William Bennett and Ambassador Jeane Kirkpatrick. Mr. Kemp served four years as Secretary for Housing and Urban Development under President George H. Bush and authored the Enterprise Zones legislation to encourage entrepreneurship and job creation in urban America. In 1995, Mr. Kemp served as Chairman of the National Commission on Economic Growth and Tax Reform and in August 1996 received the Republican Party’s nomination for Vice President.

“Jack Kemp is a visionary whose ideas have helped build American businesses and spark economic growth,” said Howard Jonas, IDT’s Founder and Chairman. “He’s made significant and tangible contributions to our nation and is guided by principals that I share: expanding personal freedoms, spreading democracy and encouraging entrepreneurship. He will be a welcome voice on IDT’s Board.”

Prior to serving in President Bush’s cabinet, Jack Kemp was a member of the U.S. House of Representatives from 1971 to 1989, representing the Buffalo area and Western New York. Jack is a native of Los Angeles, where he attended LA public schools. He graduated from Occidental College. Jack Kemp played for 13 years as a professional football quarterback. Kemp was captain of the San Diego Chargers from 1960-1962 and captain of the Buffalo Bills, the team he quarterbacked to the American Football League Championships in 1964 and 1965.

Jack Kemp joins a very distinguished Board. IDT’s outside Directors include former CEO of University Optical Products, Inc, J. Warren Blaker, former U.S. Senator from Minnesota, Rudy Boschwitz, President Emeritus of the New Jersey Institute of Technology, Saul Fenster, Chairman of Stone Tower Capital LLC, Michael Levitt, President and CEO of Crystallex Inc, Marc J. Oppenheimer, former Vice Chairman of the Joint Chiefs of Staff, Admiral William Owens, Chairman of Canary Wharf Group plc, Paul Reichmann, and former Governor of Massachusetts, William Weld.

IDT Corporation, 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 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. IDT acquired the assets of Winstar Communications in December 2001.

IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C. As of March 13, 2003, there were about 54.4 million shares of Class B common stock (IDT) outstanding, and about 25.1 million shares of common stock (IDT.C) Of these, approximately 4.0 million shares of Class B common stock and approximately 5.4 million shares of common stock were held by IDT Corporation.

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.