IDT Europe - Corporate - Press Releases

NEWARK, N.J. - March 15, 2004 - IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company, is pleased to announce that the Company was ranked the highest among Communications/Fixed-Line companies in the 2004 Wall Street Journal Shareholder Scoreboard of America's largest companies. The results were published in the Wall Street Journal and were made available online on March 9, 2004.

The Shareholder Scoreboard ranks the 1000 largest companies in the Dow Jones U.S. Total Market index. The Shareholder Scoreboard reported that IDT ranked number 1 in shareholder returns among its peers in the Fixed-Line Communications Industry for 1-year returns, 3-year average returns and 5-year average returns. IDT's 3-year average return of 25.2% compares to the industry average of a 7.9% loss. IDT is the only Fixed-Line Communications company to show a positive 3-year average return. The Company's 5-year average return was 21.1%, compared with the industry average of a 7.2% loss.

"Seeing IDT at the top of the list is great, especially when you see names like Verizon, BellSouth, SBC Communication and AT&T below you," said Howard Jonas, IDT's Founder and Chairman. "Unlike other companies, we developed new technologies rather than just relying on the old, we kept the entrepreneurial spirit alive and we're quick to adapt to the changing marketplace."

"This recognition by the Wall Street Journal is proof that IDT's philosophy of managing for the long term, rather than focusing on short term stock price gains, gives a company staying power," said Jim Courter, IDT's CEO. "Hiring the right people, rewarding innovation, and investing strategically, is not just the formula for IDT's success, it's the blueprint for the communications company of the future."

The rankings were measured by the total value of each company's publicly traded common stock and can be found online at www.wsj.com/reports. The rankings did not take into consideration the more liquid IDT Class B shares (NYSE: IDT), which outperformed the Common Stock during the latest period.

IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own national telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Entertainment is the IDT subsidiary focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT Media is the IDT subsidiary principally responsible for the Company's initiatives in radio broadcasting, brochure distribution and new video technologies. Winstar Holdings, LLC, which provides service under the IDT Solutions brand, is the IDT subsidiary focused on providing broadband and telephony services to commercial and governmental customers through a fixed-wireless and fiber infrastructure. Net2Phone, Inc., a subsidiary of IDT Corporation, is a leading provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscribers.

IDT Corporation's Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

Important Note: In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which the words "believe," "anticipate," "expect," "plan," "intend," "estimate, "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent IDT's current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in IDT's most recent report on SEC Form 10-K (under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations"), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K and other filings IDT may make with the SEC.