IDT Europe - Corporate - Press Releases

NEWARK, N.J. - February 21, 2000 - IDT Corporation (NASDAQ: IDTC), a leading multinational carrier, telephone company, and Internet Service Provider, today announced the installation of its new $15 million, 11,000 square foot, state-of-the-art switching facility, located on Halsey Street in Newark, New Jersey. Nortel Networks, a global leader in networking equipment, (NYSE:NT) is supplying the DMS-300/250 switching system, whose 70,000 port switch is capable of handling 35,000 calls simultaneously. ECI Telecom Ltd. (NASDAQ: ECIL) and Tellabs, Inc. (NASDAQ: TLAB) are providing the DACS (Digital Access Carrier System) systems to manage the bandwidth.

"This new facility, along with the cutting edge technology it utilizes, is part and parcel of the aggressive approach IDT is undertaking in its drive to become a world leader in the telecommunications industry," said Howard Jonas, IDT Chairman and CEO.

IDT now handles an average of 18 million voice minutes daily. The addition of the Newark facility will allow the company to almost double the volume of voice traffic it can carry across its network on a regular basis. IDT's large base of Tier-1 carriers include 18 of the top 25 largest global carriers. The added capacity will further enhance IDT's position as a leader in the wholesale telecommunications market.

"The new Newark facility will give IDT the ability to greatly expand its customer base, as well as allow existing customers to increase their current call volume," said Geoff Rochwarger, IDT's Executive Vice President of Telecommunications. "The investment IDT has undertaken here, including the next-generation technology supplied by Nortel Networks, will give the company a great edge in driving down costs and expanding revenue opportunities."

IDT is a leading 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 it's own national 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.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Except for historical information, all of the expectations and assumptions contained in the foregoing are forward-looking statements 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; and (c) 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.