Net2Phone To Expand Offerings in Korea
HansoliGlobe to market Net2Phone's corporate VoIP solutions through their channels in South Korea

Newark, NJ - February 5, 2003 - Net2Phone, Inc. (Nasdaq: NTOP), the leading provider of retail Voice over IP (VoIP) services, and HansoliGlobe, a major South Korean ISP, today announced that they will begin offering VoIP services to businesses and consumers in South Korea. The joint offering leverages Net2Phone's expertise in the VoIP space with HansoliGlobe's brand, distribution and knowledge of the marketplace.

HansoliGlobe is one of the largest ISPs in South Korea, offering both narrowband and broadband services to its customers. South Korea has one of the highest broadband user penetration rates in the world, with over 10 million users. One of HansoliGlobe's core competencies is marketing new services to more than 2,100 corporate customers. HansoliGlobe plans to integrate Net2Phone's products and services with its data offerings to its customers in South Korea, enabling it to offer competitively priced telecommunications services. Net2Phone enables HansoliGlobe to expand its product offerings without investing heavily in capital expenditures and time to market.

The South Korean domestic VoIP service market is estimated to be worth around 42.5 billion won this year and anticipated to grow 86% annually to reach 320 billion won by 2007, according to tech researcher IDC Korea in a report released on January 28 entitled 'Market Trends and Outlook for VoIP Service in Korea.'

Since it began offering services in 1996, Net2Phone has aligned itself with service providers globally, offering them turnkey calling solutions for their customers. In South Korea, Net2Phone is building upon its past successes in markets where VoIP is liberalized. Net2Phone is putting a particular focus on opportunities in Asia, especially with the recent launch of its new Hong Kong hub, offering Asian customers improved quality, reliability and rates.

Working with top service providers such as HansoliGlobe in these markets allows Net2Phone to provide VoIP solutions that will easily allow customers to reach any world market with low-cost calling advantages. Net2Phone also offers a solution for the corporate market that easily integrates with existing PBXs for seamless transition to VoIP.

"Net2Phone will provide our users with telecommunications services that are of top quality and reliability," said Jong Man Chang of HansoliGlobe. "We looked to Net2Phone because of its technological lead, brand name and financial stability. We look at Voice over IP as the future of telecommunications, and aligning ourselves with Net2Phone puts us in a good position to keep an eye to the future."

"HansoliGlobe represents an excellent strategic partner as it has strong customer relationships with many businesses in Korea," said Bryan Wiener, Senior VP and General Manager at Net2Phone. "Our diverse VoIP solutions work for businesses big and small. Together with HansoliGlobe, we can empower these businesses with cost effective high quality telecommunications solutions."

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.