Net2Phone Appoints Dubroff as CFO

Newark, NJ - November 20, 2002 - Net2Phone, Inc. (Nasdaq: NTOP) the leading provider of Voice over IP services, today announced that it has promoted Arthur Dubroff to Chief Financial Officer. Norman Klugman, who has served as both COO and CFO since March 2002, will remain as Chief Operating Officer. Mr. Dubroff has been leading the company's financial initiatives since February 2002.

"Arthur has been a significant contributor to Net2Phone during the past year. We anticipate a continuing increase of focus on fiscal discipline and financial achievements that were started during Norman's tenure as CFO," said Stephen Greenberg, CEO of Net2Phone. "Norman has shown excellent operational skills, and his thorough knowledge of the telecom industry in today's operating environment makes him an ideal Chief Operating Officer. We believe this refined organizational structure will significantly leverage each of their contributions to Net2Phone."

Prior to joining Net2Phone, Dubroff most recently was Chief Financial Officer of Virtual Communities, Inc., a NASDAQ-listed provider of ethnic websites and content management software tools. He previously served as Chief Financial Officer of Enhance Financial Services Group Inc., a $700 million market cap, NYSE-listed, financial guaranty reinsurer. Dubroff's background includes senior financial positions at First Data Corporation, American Express and Merrill Lynch. Dubroff graduated from Harvard Business School in 1975 as a Baker Scholar.

"I look forward to the opportunity to build upon Norman's successes in his previous CFO role as Net2Phone continues to move toward profitability while expanding its extraordinarily exciting initiatives in the marriage of cable and Internet telephony," Mr. Dubroff remarked.

About Net2Phone
Founded in 1995, Net2Phone is a leading provider of voice services over IP networks to consumers, businesses and carriers worldwide. With millions of users around the world, Net2Phone enables toll-quality calls between computers, telephones, and broadband devices utilizing IP networks. Recognized as the first company to bridge the Internet with the public switched telephone network, Net2Phone has routed billions of minutes of traffic over its award-winning network. Traded on the NASDAQ under the symbol NTOP, Net2Phone's strategic partners and investors include Liberty Media Corporation (NYSE: LMC.A; LMC.B), AT&T (NYSE: T), and IDT Corporation (NYSE: IDT; IDT.B). For more information about Net2Phone's products and services, please visit www.net2phone.com.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward- looking statements involve risks and uncertainties and actual results could differ materially from those discussed in the forward-looking statements. For this purpose, any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Factors which may affect the Company's results include, but are not limited to, the Company's ability to expand its customer base, the Company's ability to develop additional and leverage its existing distribution channels for its products and solutions, dependence on strategic and channel partners including their ability to distribute the Company's products and meet or renew their financial commitments, the Company's ability to address international markets, the effectiveness of the Company's sales and marketing activities, the acceptance of the Company's products in the marketplace, the timing and scope of deployments of the Company's products by customers, fluctuations in customer sales cycles, customers' ability to obtain additional funding, technical difficulties with respect to the Company's products or products in development, the need for ongoing product development in an environment of rapid technological change, the emergence of new competitors in the marketplace, the Company's ability to compete successfully against established competitors with greater resources, the uncertainty of future governmental regulation, the Company's ability to manage growth, obtain patent protection, and obtain additional funds, general economic conditions and other risks discussed in this Report and in the Company's other filings with the Securities and Exchange Commission. All forward-looking statements and risk factors included in this document are made as of the date hereof, based on information available to the Company as of the date thereof, and the Company assumes no obligation to update any forward-looking statement or risk factors.