With more than 30 years experience in international telecommunications, Mr. Goldstein has been at the forefront of the advancement of global satellite telecommunications services. Elected Director General and CEO of INTELSAT in 1992, Mr. Goldstein led the organization through a period of fast-moving, competitive, market and technological challenges, strategic planning imperatives, and reviews of INTELSAT's structural framework. INTELSAT is a commercial consortium of over 140 member countries worldwide that owns and operates a global system of satellites. With assets in excess of US $3.5 billion, INTELSAT is the world's largest leading provider of voice/data and video satellite services.

Prior to joining INTELSAT, Mr. Goldstein had served 26 years at the Communications Satellite Corporation (COMSAT), the last six years as Chairman and CEO.

"Irving Goldstein brings a wealth of knowledge, experience, and expertise to IDT, and we are very proud to have him on our board," said IDT's President Jim Courter.

"I'm very excited about joining IDT, a company that has clearly taken advantage of deregulation and new technologies to expand its service offerings and worldwide reach," said Mr. Goldstein. "With all the growth they have been experiencing in the past few years, they are well positioned to take market share in this rapidly expanding arena."

The Company also announced several board additions and changes. Jim Courter, President of IDT, has been elected Vice Chairman of the Board, replacing Howie Balter, who has since become the CEO of Net2Phone. Moshe Kaganoff, IDT's Senior Vice President of Operations, will assume Mr. Balter's seat on the board.

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, Internet access and, through its Net2Phone product offerings, Internet telephony services.

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.

Sarah Hofstetter
Vice President, Corporate Communications
IDT Corporation
201-928-2882