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 IDT Corporation Introduces Branded Wireless Program |
| Company Lays Groundwork for National Offering of IDT Wireless Products and Services |
NEWARK, N.J. - June 20, 2000 - IDT Corporation (NASDAQ: IDTC) today announced the launch of its branded wireless program, including pre-paid wireless mobile phone service, with enhanced features, such as Voicemail, Caller ID and Call Waiting. IDT is a leading multinational carrier, telephone company and Internet service provider. IDT's network services will be provided on the Sprint PCS Nationwide wireless Network. Under IDT's Private Label Services arrangement with Sprint PCS (NYSE: PCS), IDT customers will have access to PCS service anywhere on the Sprint PCS Nationwide Network, serving more than 300 major metropolitan areas. IDT's prepaid wireless service will be offered in retail outlets in the New York Metropolitan area at the end of July, with distribution to be phased in nationwide. "Our agreement with Sprint PCS is a significant move for the development of IDT's Wireless Division," said Howard Jonas, IDT's Chairman and CEO. "Not only is IDT entering one of the fastest growing industry's full force, Sprint PCS' cutting-edge wireless network ensures IDT will provide clear network service of the highest quality to its wireless customers." IDT announced the launch of its Wireless Division in March 2000. Since then, the Company has introduced its "FreeWay" pager. "FreeWay" is the only paging service of its kind available commercially in the U.S. based on a caller-pays system, and offers users free lifetime airtime by transferring the cost of the page to the calling party. "IDT has been an industry leader in providing its customers with advanced and competitive communications solutions," said Jim Courter, President of IDT. "Through the build-out of its Wireless Division, IDT is working aggressively to position itself as a truly integrated telecom company, with a broad range of competitive product and service offerings and a diversified revenue flow. IDT is a leading facilities-based 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 telecommunications backbone and network infrastructure IDT provides its customers with integrated and competitively priced international and domestic long distance telephony, prepaid calling cards, Internet access and Digital Subscriber Line (DSL) service. The Company's Ventures business is developing several innovative telecom and Internet related businesses. Except for historical information, all of the expectations and assumptions contained in the foregoing are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and the Securities Act of 1934, 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; (c) those discussed in our Quarterly Report on Form 10Q for the period ended April 30, 2000; and (d) 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 inquiries or to be taken off or added to the fax list, please contact: |
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