NEWARK, N.J. – September 21, 2001 – IDT Corporation (NYSE: IDT, IDT.B) today announced that of its approximately 400,000 long distance customers, there were reported outages on about 1,600 lines following the September 11 attack on the World Trade Center. This represents less than one percent of IDT’s long distance lines. Those lines are among 20,000 operated by the company in the immediate area of the attack.
IDT is continuing to work with other carriers to restore all its customers to full service. It is also making special efforts to accommodate those still experiencing difficulties.
To allow affected customers to continue to use IDT’s long distance service, the company is expediting a special calling card system. Customers who request this temporary arrangement will be able to make calls directly through the IDT network using an account number and PIN at the regular 5¢ a minute, state-to-state rate instead of the usual 10¢ calling card charge.
In addition, IDT’s calling card division reported that its 15 million customers experienced no disruption in their service as a result of the attack, despite a massive surge in usage by concerned family members, rescue workers, and others across the United States.
“The events of September 11 affected us all, both emotionally and practically,” said Howard Jonas, IDT’s Chairman. “Long distance communications is an essential service, particularly during national emergencies. That’s why our people have been working tirelessly to make sure our customers experience as few disruptions as possible.”
“We’re also doing our part to support relief efforts,” Jonas said. He noted that the IDT Glatt Kosher Soup Van, which normally distributes food for the homeless at churches and other centers near the company’s Newark, New Jersey, headquarters, has been making trips every day, including weekends, to New York with Kosher deli sandwiches and beverages for rescue workers. On each trip more than six-hundred lunches are delivered.
“Constantly loading the van and making so many trips to New York is a lot more work than any of us expected when we set out to feed the homeless,” said Miya Ali, IDT’S Manager of Community Relations. “But when you see the determination on the faces of the rescue workers, it’s an honor to play even a small part in what they’re doing.”
In addition to distributing food, the company is making more than $1 million available to charities engaged in relief efforts through employee matching grants. For every employee contribution to one of those charities, IDT will donate a matching amount up to $500.
“Times like these bring us together, both as citizens and as co-workers,” said Jim Courter, IDT President and CEO. “From the huge American flag we’ve placed on the side of our building facing lower Manhattan to the efforts we’ re making to help those of our customers affected by the attack, we at IDT are doing all we can to aid in the recovery and rebuilding that lies ahead.”
IDT is a leading facilities-based, multinational carrier that provides a broad range of telecommunications services to its wholesale and retail customers worldwide.
Through its own national telecommunications backbone and fiber optic network infrastructure, IDT provides its customers with integrated and competitively priced international and domestic long distance telephony and prepaid calling cards. The Company’s Ventures division is developing several innovative telecom and Internet related businesses. Through its IDT Investments subsidiary, IDT has equity interests in several telecom and Internet-related companies.
Except for historical information, all of the expectations and assumptions contained in the foregoing are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and the Securities Exchange Act of 1934, involving risks and uncertainties. These statements refer to our plans to implement our growth strategy, improve our financial performance, expand our infrastructure, develop new products and services, expand our customer base and enter international markets. The forward looking statements also include our expectations concerning factors affecting the markets for our products, including the demand for long distance telecommunications, and Internet access services. These forward looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the results that we anticipate. These risks and uncertainties include, but are not limited to, those risks discussed in this release. In addition to the factors specifically noted in the forward looking statements, other important factors that could result in those differences include (a) general economic conditions in the telecommunications and Internet markets, including inflation, recession, interest rates, and other economic factors; (b) casualty to or other disruption of our facilities and operations; (c) those discussed in our Annual Report on Form 10K for the period ended July 31, 2001 and (d) other factors that generally affect the business of telecommunications, Internet and other communications companies. We assume no obligation to update these forward looking statements or to update the reasons actual results could differ materially from the results anticipated in the forward looking statements.