IDT Europe - Corporate - Press Releases

NEWARK, N.J. - March 2, 2000 - IDT Corporation (NASDAQ: IDTC)today announced the formation of its Wireless Division and planned entrance into the Cellular industry with the development of proprietary technology for its new paging and cellular phone service(s). The technology utilizes a proprietary "calling party pays" application which will eliminate the fees that subscribers are currently forced to pay for incoming pages and calls in the U.S.

"This technology is the culmination of more than four years of research and development on the part of IDT's Cellular Division engineers," said Howard Jonas, IDT Chairman and CEO.

"Our `caller pays' service will fill a significant gap in the technology currently available commercially, and will bring wireless paging and phone service to the millions of consumers who have stayed out of the market waiting for a lower cost alternative".

IDT has patents pending which should enable the company to license its technology to other cellular providers, creating an additional business and source of revenue from its "calling party pays" technology.

"We are already in advanced discussions with several major cellular carriers and manufacturers on embedding our caller pays technology into their platforms," said Jim Courter, IDT President.

IDT anticipates that within the next month the pagers will be available at the same retail distribution channels through which IDT currently sells its prepaid calling cards, as well as at many of the major national retail chains.

IDT is a leading multinational carrier that combines its position as an international telecommunications operator with its experience as an Internet service provider to provide a broad range of telecommunications services to its wholesale and retail customers worldwide.

Through its own national telecommunications backbone and network infrastructure IDT provides its customers with integrated and competitively priced international and domestic long distance, pre-paid calling cards, Internet access and Digital Subscriber Line (DSL) service.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Except for historical information, all of the expectations and assumptions contained in the foregoing are forward-looking statements 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; and (c) 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.

For Investor Relations inquiries or to be added to or removed from the IR fax list contact:

Mary Jennings
IDT Investor Relations
(201) 928-2974