IDT Europe - Corporate - Press Releases

NEWARK, N.J. - April 4, 2000 - IDT Corporation (NASDAQ: IDTC) today announced the opening of its newest European office in Madrid, Spain to help service the rapidly growing operations of IDT Europe. IDT Corp. is a leading facilities-based multinational carrier, telephone company and Internet Service Provider. IDT Europe, headquartered in Brussels, provides carrier services and retail products to a growing base of European clientele.

The Madrid office will manage IDT's wholesale and retail operations in the Spanish market, including the company's carrier services and prepaid calling card products. Esperanza de Felipe is managing the new facility. She is a former official with Telefonica, S.A., the Spanish telecommunications company.

"This is just the beginning of IDT's aggressive campaign to be a preeminent force in the European marketplace," said Howard Jonas, IDT's Chairman and CEO. "The continued build-out of IDT Europe is a key objective in the company's growing telecom operations."

IDT Europe has been on a rapid expansion track since its inception in August 1998. The opening of IDT's Madrid office comes soon after the launch dates of other major European facilities. These include IDT's European Headquarters and Call Super Center in Brussels, announced in February, and the company's Dublin-based Debit Operations Center. These along with IDT's operations in London and new offices in France, Germany and Austria illustrate IDT's strong commitment to growing its European telecom operations. The European subsidiary of Newark, New Jersey-based IDT Corporation, IDT Europe now handles more than three million voice minutes daily.

"IDT is extremely pleased with the growth of its European business," said Jim Courter, President of IDT. "The facilities we have established just this year, including the new office in Spain, are solid evidence of the high priority IDT assigns to the dynamic and growing European marketplace."

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 telephony, prepaid calling cards, Internet access and Digital Subscriber Line (DSL) service. The Company's Ventures business is developing several innovative telecom and Internet related businesses.

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 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.