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Net2Phone Wins Arbitration Award Against Altice


Corporation (NYSE: IDT, IDT.C) today announced that its Net2Phone

Cable Telephony subsidiary has been awarded approximately 23 million,

plus interest from November 2005, in an arbitration proceeding against

Altice One S.A. and certain of its affiliates. The arbitration took

place in Belgium. Net2Phone was represented by Professor Bernard

Hanotiau of Hanotiau & van den Berg.

The arbitration proceedings related to Altices

termination of cable telephony license agreements Net2Phone had entered

into in November 2004.

We are pleased that the arbitration panel has

validated what we knew to be the proper reading of our agreements with

Altice, said Jim Courter, CEO of IDT. Our

pursuit of the matter shows that, as IDTs

operations grow in geographic and operational scope, we remain committed

to protecting our legal and contractual rights.

About IDT Corporation:

IDT 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’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 an Energy Services Company (ESCO) in New York State, 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.