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IDT Corporation Announces Management Changes

IDT Corporation (NYSE: IDT, IDT.C) today announced that Stephen R. Brown

and Marc J. Oppenheimer are swapping portfolios in IDTs

management team. Mr. Brown is returning to his IDT roots as Chief

Financial Officer (CFO) and Treasurer. Mr. Oppenheimer is bringing his

operational discipline and prior experience to serve as IDTs

Chief Operating Officer (COO), and will focus on the companys

expanding operations in the energy sphere. In addition, Bill Pereira,

who has served as Senior Vice President of Corporate since 2006, has

been promoted to Executive Vice President (EVP) of Finance. Liore Alroy,

Chief Executive Officer of Net2Phone since 2004, has been appointed as

EVP of IDT Corporation.

From time to time, we tap Steve Browns

talents to guide the development of new ventures, but at the end of the

day, we always seem to want him back as our CFO,

said Howard Jonas, IDTs Chairman and Founder. On

many occasions, I have praised Steves

capabilities as CFO, and once again we want him in that role as we

continue to navigate our way through uncharted waters. Marc Oppenheimer

will bring his strategic expertise to the COO post and we look forward

to his guiding hand on our diverse operationsparticularly

our investments in energy.

We have seen Marcs

abilities up close as a board member at both IDT and Net2Phone, as our

lead independent director and most recently as our CFO,

said Jim Courter, IDTs Vice Chairman and

Chief Executive Officer. He can manage

diverse operations and provide the discipline necessary for each of our

divisions management teams to contribute to

the overall mission and growth of IDT. Steve has been a great resource

to IDT and its shareholders and we look forward to having him at our

financial helm once again. As we deal with troubled times at some of our

mature businesses and seek to expand other operations, we believe that

having Steve and Marc in these respective roles is the best combination

of talents for creation of long-term value.

About IDT Corporation


Corporation is an innovative and opportunity seeking multinational

holding company with operations that span various industries. Through

its Telecom subsidiary, IDT provides telecommunications services

worldwide to the retail and wholesale markets. IDT Energy operates an

Energy Services Company (ESCO) in New York State. IDT’s Capital division

incubates newer businesses, and the Company’s Spectrum subsidiary holds

its spectrum license assets. IDT Telecom provides retail and wholesale

telecommunications services and products, including pre-paid and

rechargeable calling cards, consumer local, long distance, and wireless

phone services, and wholesale carrier services. Under the Net2Phone

brand name, the Company also provides a range of voice over Internet

protocol (VoIP) communications services. IDT Capital’s operations

include receivables portfolio management and collection, ethnic food

distribution, brochure distribution, Internet Mobile Group, Net2Phone

Ventures and other initiatives. IDT Corporation’s Class B Common Stock

and Common Stock trade on the New York Stock Exchange under the ticker

symbols IDT and IDT.C, respectively.

In this press release, all statements that are not purely about

historical facts, including, but not limited to, those with the words believe,anticipate,expect,plan,intend,estimate,target

and similar expressions, are forward-looking statements within the

meaning of the Private Securities Litigation Reform Act of 1995. While

these forward-looking statements represent IDTs

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. These risks and

uncertainties include, but are certainly not limited to the specific

risks and uncertainties discussed in our reports filed with the SEC. All

forward-looking statements and risk factors included in this document

are made as of the date hereof, based on information available to IDT as

of the date thereof, and IDT assumes no obligation to update any

forward-looking statements or risk factors.