IDT Teams with Global Telecom Carriers
Deals with Deutsche Telekom, France Telecom, Telefonica, and Swisscom N.A. help IDT's worldwide expansion

Hackensack, NJ - January 29, 1999 - As part of the Company's strategy to forge pacts with the world's leading telecommunications providers, IDT
Corporation (NASDAQ: IDTC) announced today that it has signed agreements with four major European-based telecoms to establish a direct fiber-optic connection between the companies for international long distance service.

Through agreements with France Telecom (NYSE: FTE), Deutsche Telekom (NYSE: DT), Swisscom N.A. (NYSE: SCM), and Telefonica (NYSE: TEF), IDT will be able to provide better access and lower termination rates to a number of countries throughout Europe.

According to TeleGeography '99, an industry trade publication, among the
world's carriers, Deutsche Telekom, France Telecom, Swisscom, and Telefonica ranked respectively; 3RD, 5th, 8th and 16th in terms of outgoing
international traffic.

"Each of these carriers rank among the top twenty of the world's largest
telecoms, and we are very excited about the opportunity to be working with
such prominent and established carriers in the business, " announced Jim
Courter, President of IDT.

The agreement establishes direct channels between the companies'
international switching points and IDT's facilities in the United States and
United Kingdom. In Europe, IDT already has established a strong presence in the UK with its facilities-based switch, and has purchased more than 12,000 km of undersea cable connecting the US, Canada, and UK. The Company already has numerous operating agreements with carriers worldwide, and plans to continue the worldwide network expansion as well as joint partnerships and operating agreements.

"These carriers have recognized the global expertise and capabilities that
IDT can provide, and have therefore chosen to partner with one of the
fastest-growing emerging multinational emerging carriers," said Geoffrey
Rochwarger, IDT's Senior Vice President of Telecommunications. "The
opportunities provided by the deregulation of the European telecom
marketplace has enabled us to leap forward and capture market share in a
short period of time, and we hope to continue our strategy of entering
markets as they allow for deregulation."

IDT is a leading emerging multinational carrier that combines its position
as an international telecommunications operator, its experience as an
Internet service provider and its leading position in Internet telephony to
provide a broad range of telecommunications services to its wholesale and
retail customers worldwide. The company provides its customers with
integrated and competitively priced international and domestic long
distance, pre-paid calling cards, Internet access and, through its Net2Phone product offerings, Internet telephony services including Net2Phone Direct, Net2Fax, and Click2Talk. For more information about IDT's Internet telephony services, please visit www.net2phone.com.

Except for historical information, all of the expectations and assumptions
contained in the foregoing are forward-looking statements involving risks
and uncertainties. Important factors that could cause actual results to
differ materially from such forward-looking statements, include, but are not
limited to, the competitive environment for Internet telephony, changes of
rates of all related telco rates and services, legislation that may affect
the Internet telephony industry, IDT's ability to operate the services
described on a large scale commercial level. For additional information
regarding these and other risks associated with the company's business refer to the company's reports filed with the SEC.