NEWARK, NJ - September 1, 2000 - IDT Corporation (NASDAQ:IDTC) is proud to announce that IDT's European subsidiary,IDT Europe B.V.B.A., has been selected by the Austrian Olympic Committee as the official carrier and prepaid phone card supplier for Austria in the 2000 Olympics to be held in Sydney, Australia. IDT is a leading multinational carrier, telephone company and Internet Service Provider.

"It's great. I feel like we've just won an Olympic Gold Medal in telecommunications," said Howard Jonas, IDT's Chairman and CEO. "Clearly, this means that the European community recognizes IDT as one of the leading telecommunications companies on the continent."

As part of its official duties, IDT will produce and supply the Austrian Olympic Committee with commemorative prepaid phone cards bearing the official seal of the Austrian Olympic Committee and both the Sydney 2000 and IDT logos. The phone cards will be sold by the Austrian Olympic Committee throughout Austria and southern Germany.

"Since establishing IDT Europe two years ago, we've worked relentlessly at building out our network and providing the highest quality and most reliable communications services to the people of Europe," said Yoav Krill, IDT's Senior Vice President and Managing Director for Europe.

The phone cards will be made available in varying denominations of the Austrian Shilling, and may be used throughout Europe and Australia to call just about anywhere in the world.

In July of this year, IDT Europe announced that its Unity card, the Company's flagship pan-European calling card product, was expanding into four additional countries, including Belgium, Ireland, Sweden and Spain. This expansion made IDT's prepaid phone cards available in nine European countries and will enable it to continue to be one of the most successful prepaid calling cards in the European market.

"IDT is very pleased with its success in the European marketplace, and we hope to achieve similar success throughout the world," said Jim Courter, IDT President and Vice Chairman. "Our goal is to be the global leader in telecommunications."

IDT Europe B.V.B.A., through its subsidiaries and affiliates, has offices in nine European countries and provides its customers with competitively-priced wholesale carrier services and retail products. It also operates a network of data center operations in major European business centers and has announced plans to begin operations in Milan and Stockholm later this year.

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, pre-paid calling cards, Internet access and Digital Subscriber Line (DSL) service. The Company's Ventures division is developing several innovative telecom and Internet related businesses.

For Investor Relations inquiries or to be added or taken off the fax list, please contact:

Mary Jennings
IDT Investor Relations
(201) 928-2975