IDT Europe - Corporate - Press Releases

Newark, N.J. - April 12, 2000 - IDT Corporation (NASDAQ: IDTC) today announced the successful market introduction for its five cents a minute domestic long distance service and the expansion of an aggressive consumer marketing campaign to attract new subscribers to the service. IDT is a leading facilities-based multinational carrier, phone company and Internet service provider.

"The positive response among customers in our initial launch has exceeded our expectations," said Howard Jonas, IDT's Chairman and CEO.

New customer sign-ups for IDT's long distance and international phone service are approaching one thousand a day.

The two month market introduction included Direct Response TV spots in over 40 markets nationwide. This new phase essentially doubles IDT's marketing efforts by expanding the TV ad campaign to additional markets and introducing new marketing channels, including print, direct mail, online advertising and partnerships.

Most subscribers to IDT's long distance service receive state-to-state long distance rates of only 5 cents a minute to anywhere in the continental United States, 24 hours a day, 7 days a week, making it one of the most competitive plans in the country. The new international plan includes some of the best rates in the industry to the most frequently called countries.

The plan also comes with a long distance calling card which enables subscribers to make domestic long distance calls away from their home phone to anywhere in the contiguous U.S. for only 10 cents a minute. With no up-front fee, IDT believes its calling card is one of the most competitive in the industry.

"People are tired of switching from carrier to carrier in order to get a better deal on their long distance phone calls," Howard Jonas continued. "IDT's plan is the real thing. No games, no gimmicks, no dial-around numbers to call, just a straight flat rate, anywhere in the U.S. and internationally, anytime."

IDT also plans to fully leverage their long distance relationships with customers providing relevant offers that span IDT's wide array of consumer-solutions, including a variety of Internet services, as well as paging, prepaid calling cards and wireless services.

"IDT has grown to the point where it can service all its customers' communications needs and at extremely competitive prices," said Jim Courter, President of IDT. "We estimate the savings for a typical subscriber to our long distance service is more than $100 a year. That's not just pocket change."

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, 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.