Hackensack, NJ - September 29, 1999 --- Net2Phone Inc. (NASDAQ: NTOP) today announced that Dan Schulman, President and Chief Operating Officer of priceline.com, Martin Yudkovitz, President of NBC Interactive Media, and Michael Fischberger, Senior Vice President of Domestic Telecommunications and Internet services at IDT, will join the Net2Phone board of directors, bringing the total number of directors to 11.

In his role as a Net2Phone Board Member, it is hoped that Mr. Schulman will advise and help the Company towards fostering relationships with executives in the telecommunications and Internet industries. He intends to be active in helping the Company develop and form new strategies and technologies.

Prior to joining priceline.com (NASDAQ: PCLN), Mr. Schulman was an Executive Vice President of AT&T as well as the President of the Consumer Markets Division. From 1981 to 1999, he served in a variety of positions at AT&T, including President of AT&T WorldNet Services, Vice President of Business Services and Vice President Marketing. In his capacity as Chief of Marketing for AT&T's $24 billion Business Markets Group, Mr. Schulman led the integration of wireless, e-commerce and local services into innovative bundles.

"Net2Phone is the prime example of a company taking the lead in a new market and capitalizing on it," said Mr. Schulman. "This is a forward thinking company with tremendous vision and entrepreneurial spirit. Net2Phone is a well-positioned company due to its market penetration and technological lead. I look forward to working with this strong management team to enable integrated image, data, and voice across the entire web."

Martin Yudkovitz has been President of NBC Interactive Media since December 1995. He is responsible for developing NBC's new media strategy and managing NBC's interactive operations and Internet investments. He directed NBC's initial investment into Net2Phone over six months ago. Since joining NBC in 1984, Mr. Yudkovitz has served in a variety of executive positions at NBC, including General Counsel and Vice President for Business Affairs of CNBC. Mr. Yudkovitz is a director of several companies, including iVillage, Inc. and Talk City, Inc., Entertainer as well as a member of the board of managers of Snap.com.

In his role as board member, Mr. Yudkovitz will help leverage NBC's investment portfolio for Net2Phone's business, as well as assist in Net2Phone's strategic planning.

"I personally have been an ardent believer in IP telephony since Net2Phone started to emerge in this sector. Internet telephony provides key functionality for all Internet properties, and we're happy to be strategically aligned with this forward-thinking company," said Mr. Yudkovitz. "In a short time, Net2Phone has been able to secure major relationships with some of the largest companies throughout the Internet, communications, and media industries. These new relationships, and the relationships that are forthcoming, only further strengthen Net2Phone's hold as the top IP Telephony service provider. I look forward to being part of the new and exciting times ahead."

Net2Phone has further expanded its Board of Directors to include Michael Fischberger, Senior Vice President of Domestic Telecommunications and Internet services at IDT (NASDAQ: IDTC) (the parent company of Net2Phone). In 1993, Mr. Fischberger helped build IDT's Internet business from the ground up. He guided the development of IDT's sales, technical support, customer service, entire nationwide backbone, and hundreds of points of presence. Currently, Mr. Fischberger supervises IDT's domestic products and services, which includes domestic long distance services, Internet access, calling cards, and corporate services. Until Net2Phone went public, Mr. Fischberger managed Net2Phone Direct sales, customer service, and anti-fraud departments, and will provide insight on Net2Phone's consumer offerings in the future.

"On behalf of the entire Net2Phone team, we are thrilled to have Dan, Marty, and Michael on board. All three have great knowledge of telecommunications and Internet arenas and know the consumer market better than almost anyone in the industry today. We expect their wisdom and expertise to be very valuable," said Cliff Sobel, Chairman of Net2Phone.

Net2Phone is a leading provider of voice-enhanced Internet communications services to individuals and businesses worldwide. Net2Phone enables people to place low-cost high quality calls from their computer, telephone, or fax machine to any telephone or fax machine in the world. Net2Phone develops and markets technology and services for IP voice and e-commerce solutions for the web and other IP networks. 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 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, among other things, Net2Phone's expected operating performance for the three months ending [October 31, 1999] and thereafter. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainty of financial estimates and projections, the competitive environment for Internet telephony, changes of rates of all related telco rates and services, legislation that may affect the Internet telephony industry, and Net2Phone's ability to operate the services described on a large scale commercial level.The forward-looking statements are made as of the date of this press release, and Net2Phone assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Investors should consult all of the information set forth herein and the other information set forth from time to time in Net2Phone's reports filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934.

Sarah Hofstetter
Vice President, Corporate Communications
Net2Phone
201-928-2882
sarah@net2phone.com