Net2Phone to Report Q3 Fiscal Year 2003 Earnings
on June 9
Company to present at Goldman Sachs and FBR Conferences

Newark, NJ - May 8, 2003 - Net2Phone Inc. (Nasdaq: NTOP), a leading provider of retail Voice over IP (VoIP) services is expected to release its Third Quarter (ended April 30, 2003) Fiscal Year 2003 statement of earnings on Monday, June 9, 2003 after the market closes.

Please join us for a live webcast at 4:30 PM EDT. Participants may access the live webcast by visiting http://web.net2phone.com/about/investor/earning.asp or www.vcall.com

Net2Phone also announced today participation in the following upcoming events with the financial community. Interested parties can view details of these events on Net2Phone's Web site at http://web.net2phone.com/about/investor/events.asp.

• May 12, 2003 - Goldman Sachs Global Communications Technology & Telecom Retreat, Santa Barbara CA. Michael Pastor, General Manager of Net2Phone’s Cable Technology Division, will discuss Net2Phone’s business models for offering cable operators a cost-effective solution to deliver a fully managed hosted residential telecommunications solution to their customers. Net2Phone is currently running the first fully outsourced VoIP cable telephony deployment in conjunction with Liberty Cablevision of Puerto Rico.
• May 28, 2003 - Friedman Billings Ramsey 7th Annual Technology & Growth Investor Conference. Stephen Greenberg, CEO, will discuss Net2Phone’s opportunities both in the US and overseas.

About Net2Phone
Founded in 1995, Net2Phone is the leading provider of high quality retail Voice over IP (VoIP) services, either directly or via a partner. 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. Incorporated within the company is its Cable Technologies Division, which has developed a fully outsourced standards-compliant telephony solution for cable operators. Traded on the NASDAQ under the symbol NTOP, Net2Phone’s strategic partners and investors include Liberty Media Corporation (NYSE: LMC.A; LMC.B) 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.