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IDT Telecom Achieves Record Daily Minutes-of-Use

NEWARK, N.J. – May 12, 2004 – IDT Corporation announced today that its IDT Telecom subsidiary posted a record daily number of telecommunications minutes-of-use on Sunday, May 9, 2004, which coincided with the Mother’s Day holiday. Minutes-of-use amounted to approximately 90.8 million minutes, breaking the previous record of 88.8 million minutes, set on December 31, 2003. This year’s Mother’s Day minutes-of-use total represents a 21% increase from last Mother’s Day’s total. IDT Corporation (NYSE: IDT, IDT.C) is a multinational carrier, telephone and technology company.

“Visiting mom and sending flowers are Mother’s Day traditions, but millions of people send their love long distance with a phone call,” said Jim Courter, IDT’s CEO. “Setting a calling record on a holiday is great. But more important is that IDT continues to grow and provide affordable telecommunications services to people around the globe.”

Whether using calling cards, Long Distance service or Local phone service, more consumers than ever before are selecting IDT as their phone company. From January 2004 to April 2004, retail minutes of use increased by 13% over the same period in 2003 and wholesale minutes increased by 21%.

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.

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.