NEWARK, N.J. - May 24, 2002 - Please join us for the IDT Corp. (NYSE: IDT.B and IDT) third quarter conference call when we report results for the quarter ended April 30, 2002.

Our conference call is scheduled for Thursday, June 6th, at 4:30 PM (EDT). An earnings release will be available prior to the call.

We are pleased to offer two ways to participate in the conference call -- via teleconference or webcast. You may access the webcast of our call by visiting the IDT Corp. website (http://www.idt.net). A direct link to the call will be found in a pop-up window on the IDT Corporation home page, and at the following hyperlink:

You will need RealAudio software to listen to the streaming feed of the conference call. Please allow at least 15 minutes to download any necessary audio software prior to the call.

If you choose to participate via telephone, the dial-in number is 1-800-775-2298 for domestic callers, and 1-706-679-3357 for international callers.

Should you miss the call, you may access an archived copy of the call at the IDT website (in the Investor Relations section's Presentations), or via a replay at 1-800-642-1687 -- passcode #4347834 for domestic callers, or 1-706-645-9291 -- passcode 4347834 for international callers. The teleconference replay will be available for one week after the conference call.

We look forward to your participation.

Mary Jennings
Manager, Investor Relations
(973) 438-3124