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Zedge 3.0 Launches; Boasts over 9 Million Members

New Zedge design makes it easier than ever to Free
Your Phone

Zedge (http://www.zedge.net), the
mobile content destination with more than 9 million members, announced
today the launch of its newly redesigned website. This coincides with
the companys significant growth, which now
averages more than 20,000 new members daily.

Zedge.net has quietly become a force to be reckoned with since its
acquisition by IDT Internet Mobile Group (IIMG) in December 2006. It is
strategically positioned to fully harness the $12 billion mobile
advertising market foreseen by top market analysts for 2011, in addition
to reaping its share of online advertising, which is forecast to
globally reach $147 billion in 2012. The raw data alone speaks to the
popularity of the socially driven mobile content community.

Zedge Metrics (as of 5/8/08):

. Average new members per day: 20,000
. Total membership: 9+MM
. Total items in content library: 1.3MM
. Content items downloaded per day: 1MM
. Content items uploaded/created daily: 50,000
. Unique users per month: nearly 5MM
. Monthly Page Views: 330MM

The newly streamlined Zedge.net makes it
significantly easier for the users to find and get what they want,
connect with one another, and create and share content,
said Zedge President and co-founder Tom Arnoy. The
new Zedge is a simpler and fun experience, and this is the first of many
significant upgrades slated for Zedge.

The primary benefits of the redesign include a superior site
architecture and visual design, providing clear, simple and quick
navigation to the content, tools and profiles available on Zedge.net. It
features a revamped menu structure, a straightforward top-level index,
tabbed browsing of site content and member profiles, greatly expanded
member account options, improved search capabilities, and a clearly
defined iconography, color scheme and nomenclature.

The Zedge redesign makes it easier than ever
to Free Your Phone
from the world of premium mobile content and services,
said Zedge Chairman and CEO Moshe Berger. The
Zedge team has built a unique cross platform destination for mobile
content, self-expression and community. Zedge is the premier place for
totally free mobile content.

ABOUT IDT INTERNET MOBILE GROUP (IIMG) AND ZEDGE:

IIMG develops and licenses original content for distribution through
traditional, online and mobile platforms. Its holdings include IDW
Publishing
as well as Norway-based Zedge (www.zedge.net),
one of the worlds most popular
user-generated mobile content and social networking communities. Zedge
was founded in 2003 in Norway and acquired by IIMG, a division of the
US-based publicly traded IDT Corporation in 2006. With more than nine
million members around the world, Zedge continues to grow exponentially,
averaging 20,000 new members daily, a content library of more than 1
million items, and users in 216 countries downloading, creating and
uploading a variety of mobile entertainment content, including images,
ringtones, voice tones, screensavers, games and themes.

About IDT Corporation

IDT
Corporation
(NYSE: IDT, IDT.C) is an innovative and opportunity
seeking multinational holding company with operations that span several
industries.

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.
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.

For Zedge:
NVPR
Hal Bringman, 323-851-6877
hal.bringman@nvpr.com