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 IDT Corporation Turns on the Switch for New State-of-the-Art Switching Facility at Newark Headquarters |
| Expanded Capacity to Further Solidify IDT's Position as a Leader in the Wholesale Telecommunications Market |
NEWARK, N.J. - December 6th, 2000 - IDT Corporation (NASDAQ: IDTC) today announced the turn up of its new state-of-the-art switching facility at the Company's Worldwide Headquarters located at 520 Broad Street in Newark, New Jersey. IDT is a emerging multinational telecommunications carrier, telephone company and Internet service provider. The new facility utilizes Nortel Network's DMS-Global Services Platform (DMS-GSP), a next-generation switching system whose 70,000 port switch is capable of handling 35,000 calls simultaneously. The DMS-GSP switch is state-of-the-art network technology, which facilitates IDT's move into the next-generation of switching. "This investment is a significant one for IDT in terms of the added capacity it brings to our international telecommunications business," said Howard Jonas, IDT's Chairman and CEO. "Through such upgrades and similar capital investments in our network, we are helping ensure that IDT's core telecom operations will have the leading edge infrastructure and technology needed to keep pace with the long-term growth in demand." IDT currently handles an average of 25 million voice minutes daily. This new switch gives IDT the capacity to increase the volume of voice traffic carried across its network by more than one-third on a daily basis. This will enable IDT to offer added products in the value-added services market, such as global calling cards and bandwidth services. The increased capacity will also enhance IDT's ability to build upon and expand its partnerships and interconnection agreements with the world's leading telecommunications carriers. "The Nortel DMS-GSP switch is the cutting edge of technology, and will help IDT in its transition to an IP-based infrastructure, in addition to providing us with the ability to rapidly generate new long-distance revenue streams," said Jim Courter, President of IDT." "With these types of investments, IDT is affirming its commitment to leadership in the global telecommunications marketplace." IDT is a leading facilities-based multinational carrier that offers a broad range of telecommunications services to wholesale and retail consumers worldwide. Through its own 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. The Company's Ventures division is developing several innovative telecom and Broadband related businesses. IDT's experience with new ventures, includes the creation and initial public offering of the Internet Telephone Company, NET2PHONE (NASDAQ:NTOP - news). IDT Technology Ventures supports IDT in selecting and incubating new technology ventures. Except for historical information, all of the expectations and assumptions contained in the foregoing are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and the Securities Exchange Act of 1934, 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; (c) those discussed in our Annual Report on Form 4K for the period ended July 31, 2000; and (d) 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.
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