IDT Europe - Corporate - Press Releases

Washington. D.C. & Newark, N.J. April 21, 2003 – The USO and IDT Media today jointly announced the launch of "Operation Helping Hands," an assistance program designed to provide support to families of military personnel currently serving in the Middle East. IDT Media is a division of IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company.

"While we all recognize that Military service is difficult and dangerous, we sometimes forget that it puts a huge strain on families at home," said Jim Courter, IDT's CEO. "Operation Helping Hands is an attempt to help families cope and keep life as normal as possible. I'm proud that Talk America and WMET are working to bring some comfort to those families through our work with the USO and Operation Helping Hands."

As part of the Operation Helping Hands program, Talk America Radio personality Heloise will include a segment on her talk radio program, "Ask Heloise," that will offer guidance on a range of topics from practical information on nutrition and budgeting to coping with loneliness. The segment will air on radio stations affiliated with IDT Media's Talk America Radio Network, including WMET 1150 AM in Washington, D.C., every Monday 11am-12pm EST through the end of May.

Talk America will also produce and distribute a Public Service Announcement to radio stations nationwide to raise money for "Operation Helping Hands." WMET will do its part by donating 10 percent of their advertising revenue through May 31. In addition, IDT is committed to donate $10,000 to the USO to support an array of programs and services benefiting members around the world.

"The USO is a vital link between the American people and the men and women serving in our armed forces," said Edward A. Powell, USO president and CEO. "We are grateful for IDT's support of the USO, our troops, and the families they leave behind."

Listeners interested in making a donation to the USO can call 1-800-76-7469 or log on to the website at www.uso.org.

For more than 62 years, the USO (United Service Organizations) has brought a touch of home to America's military personnel. The USO is a congressionally chartered, nonprofit organization and is not a government agency. The USO is supported by World Partners Amazon.com, Anheuser-Busch, AT&T, BAE Systems, Clear Channel Worldwide, Coca-Cola, PricewaterhouseCoopers, S&K Sales Company, USAA Foundation and VFW. Other corporate donors, including Nissan, Northwest Airlines, Walgreens, The Walt Disney Company, and the United Way and Combined Federal Campaign (CFC-0600), have joined thousands of individual donors to support the USO.

IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to its 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 telephony and prepaid calling cards. IDT and Liberty Media Corporation own 95% and 5 % of IDT Telecom, respectively. IDT acquired the assets of Winstar Communications in December 2001. IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C. As of March 13, 2003, there were about 54.4 million shares of Class B common stock outstanding, and about 25.1 million shares of common stock. Of these, approximately 4.0 million shares of Class B common stock and approximately 5.4 million shares of common stock were held by IDT Corporation.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use 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 our 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 our 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. These factors include, but are not limited to, the following: potential declines in prices for our products and services; our ability to maintain and grow our retail telecommunications services, particularly our prepaid calling card business; availability of termination capacity; financial stability of our customers; our ability to maintain carrier agreements with foreign carriers; effectiveness of our marketing and distribution efforts; increased competition, particularly from regional bell operating companies; our ability to manage our growth; competitiveness of our Winstar subsidiary; impact of government regulation; our ability to obtain telecommunications products or services required for our products and services; and general economic conditions, particularly in the telecommunications markets. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.