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IDT Telecom Achieves Record Minutes-of-Use for Christmas and New Year’s Day

NEWARK, N.J.–Jan. 4, 2005–IDT Corporation (NYSE: IDT , IDT.C ) is pleased to announce that its IDT Telecom subsidiary surpassed the 100-million minute mark for minutes-of-use for both Christmas and New Year’s Day. IDT racked up a record 107- million minutes on Christmas Day and more than 100-million minutes on New Year’s Day. These two days represented the first time that IDT Telecom has carried more than 100 million minutes on its network in a single day. The total for these two days represents a 30-million minute increase from the same period last year. IDT Corporation is an international telecom, entertainment and technology company.

“During the holiday season, a call from a relative or a friend is often the best gift of all,” said Jim Courter, IDT’s CEO. “IDT doesn’t wait for the holidays to give its customers high-quality, reliable phone service to people around the globe, we do it every day.”

Recently, IDT was ranked the third largest carrier in the world of international minutes of voice traffic transported out of a single country by TeleGeography in its 2003 list of top telecom companies. TeleGeography is the recognized authority for telecommunication’s industry research. In October 2004, IDT announced that IDT Telecom had been chosen by TRANZACT as the exclusive phone service provider for “Sears Connect” point of sale phone cards, available at more than 1,800 Sears stores.

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 international 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 Capital is the IDT division principally responsible for the Company’s initiatives in radio broadcasting, brochure distribution and new video technologies. 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 include 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 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.