Newark, NJ, January 14, 2003 – IDT Corporation (NYSE: IDT.B, IDT), is proud to announce that Winstar Communications, also known as IDT Solutions, has been awarded a Wemmie Award from The Wireless Communications Association (WCA) for Outstanding Achievements in Emergency Preparedness. IDT acquired substantially all the operating assets of Winstar Communications, Inc. in December of 2001.
The Wireless Communications Association is honoring Winstar Communications for their service to the federal government during the emergency relief efforts following the September 11th World Trade Center attack. WCA gives the Emergency Preparedness Award to a service provider “that enables or will enable a local government to quickly bypass government and/or commercial cable networks damaged by unexpected events.” This year’s Wemmie Awards will be presented on Tuesday, January 14, as part of the WCA’s Ninth Annual Technical Symposium and Business Expo at the Fairmont Hotel in San Jose, CA.
“The world has changed in the year and a half since the tragedy of September 11th for all people, including Corporate America,” said Jim Courter, IDT Corp’s CEO. “Corporate security, travel and especially maintaining uninterrupted telecommunications all pose new challenges. IDT Solutions helps provide businesses with the necessary telecommunications services for business continuity.”
“It’s especially gratifying to receive The Emergency Preparedness Award from the WCA because it came from our peers in the wireless industry,” said Brian Finkelstein, IDT Solutions’ CEO. “Since the IDT Solutions wireless network provides carrier diversity to traditional fiber service providers, we’re able to offer businesses an added level of network redundancy to minimize the risks of network outages.”
IDT Solutions’ use of Winstar’s unique fixed wireless network delivers reliable local and long distance services, and is capable of providing redundancy for businesses and others seeking back-up services. This redundancy enabled the company to provide uninterrupted telephone service in lower Manhattan to customers and to the federal government’s disaster relief operations following the September 11th attack on the World Trade Center towers. The Federal Courts, Department of Corrections and Citigroup are just a few of those that were served.
About The Wireless Communications Association
Founded in 1988, WCA (www.wcai.com) is the world’s principal non-profit trade association representing the broadband wireless industry. WCA’s membership of nearly 500 companies includes leading carriers, vendors and consultants on six continents.
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 own 95% and 5 % of IDT Telecom, respectively. IDT Media is the IDT subsidiary principally responsible for the Company’s initiatives in media, new video technologies and print media.
Through its various subsidiaries, IDT has interests in several telecom, Internet-related and media companies. IDT acquired assets of Winstar Communications in December 2001. IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT.B and IDT. As of December 12, 2002, there were about 54.1 million shares of Class B common stock (IDT.B) outstanding, and about 25.0 million shares of common stock (IDT). 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.