NEWARK, N.J. - October 16, 2003 - Please join us for the IDT Corp. (NYSE: IDT and IDT.C) fourth quarter and year end conference call when we report results for the period ended July 31, 2003, along with an update of our current financial status.

Our conference call is scheduled for Thursday, October 23, at 4:45 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 (www.idt.net).

A direct link to the call will be found on the IDT Corporation home page, and at the following hyperlink:

http://www.b2i.us/external.asp?b=566&id=233&from=pl&L=e

You will need Windows Media 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 1-866-594-2183 for domestic callers, and 1-973-935-8583 for international callers.

Should you miss the call, you may access an archived copy at the IDT website (in the Investor Relations section's Presentations), or via a replay at 1-877-519-4471 -- passcode #4245584 for domestic callers, or 1-973-341-3080 -- passcode #4245584 for international callers. The teleconference replay will be available for one week after the conference call.

We look forward to your participation.