Amendment #5 to Schedule 13D

-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, HcznoHOl3FCTgJkJcgoC03pTtDkU1DlJTK0/4WK/5NGYoukxuXsQ/mmwTgJh+gLs lRQG4sUqLo/pQzplQDTKDQ== 0001193125-05-135134.txt : 20050630 0001193125-05-135134.hdr.sgml : 20050630 20050629212131 ACCESSION NUMBER: 0001193125-05-135134 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 10 FILED AS OF DATE: 20050630 DATE AS OF CHANGE: 20050629 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NET2PHONE INC CENTRAL INDEX KEY: 0001086472 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 223559037 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-56655 FILM NUMBER: 05926556 BUSINESS ADDRESS: STREET 1: 520 BROAD STREET CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 9734383111 MAIL ADDRESS: STREET 1: 520 BROAD STREET CITY: NEWARK STATE: NJ ZIP: 07102 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: IDT CORP CENTRAL INDEX KEY: 0001005731 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813] IRS NUMBER: 223415036 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 520 BROAD ST CITY: NEWARK STATE: NJ ZIP: 07102 BUSINESS PHONE: 973 438 1000 MAIL ADDRESS: STREET 1: 520 BROAD STREET CITY: NEWARK STATE: NJ ZIP: 07102 SC 13D/A 1 dsc13da.htm AMENDMENT #5 TO SCHEDULE 13D Amendment #5 to Schedule 13D

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)*

NET2PHONE, INC.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

64108N10

(CUSIP Number)

Joyce J. Mason, Esq.

General Counsel and Secretary

IDT Corporation

520 Broad Street

Newark, New Jersey 07102

(973) 438-1000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

June 28, 2005

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this statement because of § 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7(b) for other parties to whom copies are to be sent.

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

The undersigned IT Stock, LLC, NTOP Holdings, L.L.C., IDT Domestic-Union, LLC, IDT Investments, Inc., IDT LMC-N2P Acquisition, Inc., IDT LMC-N2P Acquisition II, Inc., IDT LMC-N2P Acquisition III, Inc., IDT Domestic Telecom, Inc., IDT Telecom, Inc., IDT Corporation (“IDT”) and Howard S. Jonas hereby file this Amendment No. 5 to the Schedule 13D, which amends their Schedule 13D with respect to the common stock of Net2Phone, Inc. (“Net2Phone”), as previously amended.

Item 4. Purpose of Transaction

On June 28, 2005, IDT delivered a letter to the board of directors of Net2Phone notifying it of IDT’s intention to commence a tender offer for all outstanding shares of common stock of Net2Phone not owned by IDT or its affiliates at a price of $1.70 per share, net to the sellers in cash, without interest. The tender offer will be subject to (i) the non-waivable condition that it be accepted by holders of a majority of the outstanding shares of common stock of Net2Phone not owned by IDT and its affiliates and (ii) the waivable condition that IDT directly or indirectly own at least 90% of the outstanding shares of common stock of Net2Phone following consummation of the tender offer. As promptly as practicable following the consummation of the tender offer, IDT will effect a merger of Net2Phone with a subsidiary of IDT in which all remaining holders of Net2Phone common stock will receive the same consideration for their shares as the holders who tendered their shares received in the tender offer. The tender offer also will be subject to other terms and conditions that will be set forth in the tender offer materials that will be distributed by IDT to Net2Phone’s stockholders. IDT anticipates that the tender offer will be commenced after the special committee of the Net2Phone board of directors and its advisors have had an opportunity to review and consider the tender offer. A copy of the offer letter, dated June 28, 2005, delivered by IDT to the Net2Phone board of directors is attached as Exhibit 28. A copy of the press release issued by IDT on June 28, 2005 announcing IDT’s intention to commence the offer is attached as Exhibit 29.

Following successful completion of the tender offer, the Reporting Persons may (i) terminate the Issuer’s registration as a reporting company pursuant to Section 12(g)(4) of the Exchange Act, (ii) delist the Shares from quotation on the Nasdaq National Market, (iii) modify the present capitalization of the Issuer by retiring some of the Shares and/or (iv) change the composition of the present board of directors or management of the Issuer.

Item 7. Material to be Filed as Exhibits



Exhibit 6		Name, position, principal occupation and business address of each executive officer and director of IDT Telecom.

Exhibit 7		Name, position, principal occupation and business address of each executive officer and director of IDT.

Exhibit 23		Name, position, principal occupation and business address of each executive officer and director of IDT LMC-N2P Acquisition I, Inc.

Exhibit 24		Name, position, principal occupation and business address of each executive officer and director of IDT LMC-N2P Acquisition II, Inc.

Exhibit 25		Name, position, principal occupation and business address of each executive officer and director of IDT LMC-N2P Acquisition III, Inc.

Exhibit 28		Offer letter, dated June 28, 2005.

Exhibit 29		Press release, dated June 28, 2005.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated: June 29, 2005


IT STOCK, LLC
By:		NTOP Holdings, L.L.C., its member

By:		/s/ Howard S. Jonas
Name:		Howard S. Jonas
Title:		Manager

NTOP HOLDINGS, L.L.C.

By:		/s/ Howard S. Jonas
Name:		Howard S. Jonas
Title:		Manager

IDT DOMESTIC-UNION, LLC
By:		IDT Domestic Telecom, Inc., its managing member

By:		/s/ Morris Lichtenstein
Name:		Morris Lichtenstein
Title:		Chief Executive Officer

IDT INVESTMENTS, INC.

By:		/s/ Bo Yan
Name:		Bo Yan
Title:		Acting President

IDT LMC-N2P ACQUISITION, INC.

By:		/s/ James Courter
Name:		James Courter
Title:		President

IDT LMC-N2P ACQUISITION II, INC.

By:		/s/ James Courter
Name:		James Courter
Title:		President


IDT LMC-N2P ACQUISITION III, INC.

By:		/s/ James Courter
Name:		James Courter
Title:		President

IDT DOMESTIC TELECOM, INC.

By:		/s/ Morris Lichtenstein
Name:		Morris Lichtenstein
Title:		Chief Executive Officer

IDT TELECOM, INC.

By:		/s/ Morris Lichtenstein
Name:		Morris Lichtenstein
Title:		Chief Executive Officer

IDT CORPORATION

By:		/s/ Howard S. Jonas
Name:		Howard S. Jonas
Title:		Chairman of the Board

/s/ Howard S. Jonas
Howard S. Jonas

EX-99.6 2 dex996.htm NAME, POSITION, PRINCIPAL OCCUPATION & BUSINESS ADDRESS - IDT TELECOM Name, Position, Principal occupation & business address - IDT Telecom

EXHIBIT 6

Directors and Executive Officers of IDT Telecom, Inc.

Set forth below are the name, position, present principal occupation or employment and business address of each director and executive officer of IDT Telecom, Inc. (“IDT Telecom”). Unless otherwise indicated, each occupation set forth opposite an individual’s name refers to employment with IDT Telecom. Each person listed below is a citizen of the United States.


Name	Position	Principal Occupation	Business Address
Morris Lichtenstein	Chief Executive Officer, Treasurer, Chairman of the Board and Director	Executive Vice President of Business Development of IDT Corporation (“IDT”)	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Norman Rosenberg	Chief Financial Officer	Chief Financial Officer	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Yona Katz	Chief Operating Officer	Chief Operating Officer	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Avi Stokar	Chief Information Officer	Chief Information Officer	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Kathleen Timko	Chief Technology Officer and Director	Chief Technology Officer and Director	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Jonathan Levy	President of Carrier Services and Sales Strategy, Vice Chairman of the Board and Director	President of Carrier Services and Sales Strategy, Vice Chairman of the Board and Director	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Keith Mendelson	Executive Vice President of Retail Operations	Executive Vice President of Retail Operations	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Robert Schwartz	Executive Vice President of Corporate Development	Executive Vice President of Corporate Development	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Jonathan Ward	Executive Vice President of Marketing	Executive Vice President of Marketing	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Marc Bodner	Executive Vice President of European Operations	Executive Vice President of European Operations	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Jack Lerer	Executive Vice President of International Business	Executive Vice President of International Business	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Anthony Davidson	Executive Vice President of Commercial Operations	Executive Vice President of Commercial Operations	c/o IDT Telecom 520 Broad Street Newark, NJ 07102


Name	Position	Principal Occupation	Business Address
Margaret Lockwood	Executive Vice President of Prepaid Solutions	Executive Vice President of Prepaid Solutions	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Ely D. Tendler	Executive Vice President, General Counsel and Secretary	Executive Vice President, General Counsel and Secretary	c/o IDT Telecom 520 Broad Street Newark, NJ 07012

Joyce J. Mason	Assistant Secretary	Senior Vice President, General Counsel, Secretary and Director of IDT	c/o IDT Telecom 520 Broad Street Newark, NJ 07012

Howard S. Jonas	Director	Chairman of the Board and Director of IDT	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

James A. Courter	Director	Chief Executive Officer, Vice Chairman of the Board and Director of IDT	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Leon Panetta	Director	Institute Director of The Panetta Institute	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Dov Zakheim	Director	Vice President of Booz Allen Hamilton Inc.	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

Steven L. Pomerantz	Director	Chairman of the Board of Steve L. Pomerantz & Associates	c/o IDT Telecom 520 Broad Street Newark, NJ 07102

EX-99.7 3 dex997.htm NAME, POSITION, PRINCIPAL OCCUPATION & BUSINESS ADDRESS - IDT Name, Position, Principal occupation & business address - IDT

EXHIBIT 7

Directors and Executive Officers of IDT Corporation

Set forth below are the name, position, present principal occupation or employment and business address of each director and executive officer of IDT Corporation (“IDT”). Unless otherwise indicated, each occupation set forth opposite an individual’s name refers to employment with IDT. Each person listed below is a citizen of the United States.


Name	Position	Principal Occupation	Business Address
Howard S. Jonas	Chairman of the Board and Director	Chairman of the Board and Director	c/o IDT 520 Broad Street Newark, NJ 07102

James A. Courter	Chief Executive Officer, Vice Chairman of the Board and Director	Chief Executive Officer, Vice Chairman of the Board and Director	c/o IDT 520 Broad Street Newark, NJ 07102

Ira A. Greenstein	President and Director	President and Director	c/o IDT 520 Broad Street Newark, NJ 07102

Stephen R. Brown	Chief Financial Officer, Treasurer and Director	Chief Financial Officer, Treasurer and Director	c/o IDT 520 Broad Street Newark, NJ 07102

Marcelo Fischer	Chief Accounting Officer and Controller	Chief Accounting Officer and Controller	c/o IDT 520 Broad Street Newark, NJ 07102

Joyce J. Mason	Senior Vice President, General Counsel, Secretary and Director	Senior Vice President, General Counsel, Secretary and Director	c/o IDT 520 Broad Street Newark, NJ 07102

Marc E. Knoller	Senior Vice President and Director	President and Chief Operating Officer of IDT Media, Inc., and Director	c/o IDT 520 Broad Street Newark, NJ 07102

Moshe Kaganoff	Executive Vice President of Strategic Planning and Director	Executive Vice President of Strategic Planning and Director	c/o IDT 520 Broad Street Newark, NJ 07102

Morris Lichtenstein	Executive Vice President of Business Development	Executive Vice President of Business Development	c/o IDT 520 Broad Street Newark, NJ 07102

Morris Berger	Executive Vice President of Business Development	Executive Vice President of Business Development	c/o IDT 520 Broad Street Newark, NJ 07102

Kathleen B. Timko	Executive Vice President of Technology	Executive Vice President of Technology	c/o IDT 520 Broad Street Newark, NJ 07102

Ely D. Tendler	Chief Legal Officer	Chief Legal Officer	c/o IDT 520 Broad Street Newark, NJ 07102

Doug Mauro	Chief Tax Officer	Chief Tax Officer	c/o IDT 520 Broad Street Newark, NJ 07102


Name	Position	Principal Occupation	Business Address
J. Warren Blaker	Director	Professor, Fairleigh Dickinson University	c/o IDT 520 Broad Street Newark, NJ 07102

Rudy Boschwitz	Director	Chairman of the Advisory Committee of the Center for Global Food Issues; Former U.S. Senator	c/o IDT 520 Broad Street Newark, NJ 07102

Saul K. Fenster	Director	President Emeritus of the New Jersey Institute of Technology	c/o IDT 520 Broad Street Newark, NJ 07102

Jack F. Kemp	Director	Co-Director of Empower America, former U.S. Congressman and former Secretary of Housing and Urban Development	c/o IDT 520 Broad Street Newark, NJ 07102

Michael J. Levitt	Director	Chairman and Chief Executive Officer of Stone Tower Capital LLC	c/o IDT 520 Broad Street Newark, NJ 07102

Jeane J. Kirkpatrick	Director	Professor of Government at Georgetown University and former Permanent Representative of the U.S. to the United Nations	c/o IDT 520 Broad Street Newark, NJ 07102

William F. Weld	Director	Principal, Leeds Weld & Co. and former Governor of Massachusetts	c/o IDT 520 Broad Street Newark, NJ 07102

James S. Gilmore III	Director	Partner, Kelley Drye & Warren LLP and former Governor of Virginia	c/o IDT 520 Broad Street Newark, NJ 07102

EX-99.23 4 dex9923.htm NAME, POSITION, PRINCIPAL OCCUPATION & BUSINESS ADDRESS - IDT LMC I Name, Position, Principal occupation & business address - IDT LMC I

EXHIBIT 23

Directors and Executive Officers of IDT LMC-N2P Acquisition I, Inc.

Set forth below are the name, position, present principal occupation or employment and business address of each director and executive officer of IDT LMC-N2P Acquisition I, Inc. Each person listed below is a citizen of the United States.


Name	Position	Principal Occupation	Business Address
James Courter	President and Director	Chief Executive Officer, Vice Chairman of the Board and Director of IDT Corporation	c/o IDT Corporation 520 Broad Street Newark, N.J. 07102

Ira A. Greenstein	Director	President and Director of IDT Corporation	c/o IDT Corporation 520 Broad Street Newark, N.J. 07102

Joyce J. Mason	Director	Senior Vice President, General Counsel, Secretary and Director of IDT Corporation	c/o IDT Corporation 520 Broad Street Newark, N.J. 07102

EX-99.24 5 dex9924.htm NAME, POSITION, PRINCIPAL OCCUPATION & BUSINESS ADDRESS - IDT LMC II Name, Position, Principal occupation & business address - IDT LMC II

EXHIBIT 24

Directors and Executive Officers of IDT LMC-N2P Acquisition II, Inc.

Set forth below are the name, position, present principal occupation or employment and business address of each director and executive officer of IDT LMC-N2P Acquisition II, Inc. Each person listed below is a citizen of the United States.


Name	Position	Principal Occupation	Business Address
James Courter	President and Director	Chief Executive Officer, Vice Chairman of the Board and Director of IDT Corporation	c/o IDT Corporation 520 Broad Street Newark, N.J. 07102

Ira A. Greenstein	Director	President and Director of IDT Corporation	c/o IDT Corporation 520 Broad Street Newark, N.J. 07102

Joyce J. Mason	Director	Senior Vice President, General Counsel, Secretary and Director of IDT Corporation	c/o IDT Corporation 520 Broad Street Newark, N.J. 07102

EX-99.25 6 dex9925.htm NAME, POSITION, PRINCIPAL OCCUPATION & BUSINESS ADDRESS - IDT LMC III Name, Position, Principal occupation & business address - IDT LMC III

EXHIBIT 25

Directors and Executive Officers of IDT LMC-N2P Acquisition III, Inc.

Set forth below are the name, position, present principal occupation or employment and business address of each director and executive officer of IDT LMC-N2P Acquisition III, Inc. Each person listed below is a citizen of the United States.


Name	Position	Principal Occupation	Business Address
James Courter	President and Director	Chief Executive Officer, Vice Chairman of the Board and Director of IDT Corporation	c/o IDT Corporation 520 Broad Street Newark, N.J. 07102

Ira A. Greenstein	Director	President and Director of IDT Corporation	c/o IDT Corporation 520 Broad Street Newark, N.J. 07102

Joyce J. Mason	Director	Senior Vice President, General Counsel, Secretary and Director of IDT Corporation	c/o IDT Corporation 520 Broad Street Newark, N.J. 07102

EX-99.28 7 dex9928.htm OFFER LETTER, DATED JUNE 28, 2005 Offer Letter, dated June 28, 2005

Exhibit 28

LOGO

Ira Greenstein

President

IDT Corporation

520 Broad Street

Newark, NJ 07102 USA

P 973-438/4012

F 973-438/1503

ira.greenstein@corp.idt.net

www.idt.net

June 28, 2005

Board of Directors

Net2Phone, Inc.

520 Broad Street

Newark, NJ 07102

Gentlemen:

We are pleased to inform you that the Board of Directors of IDT Corporation has approved an offer to acquire all of the outstanding shares of common stock of Net2Phone, Inc. that it does not presently own. In the offer, IDT will pay $1.70 in cash, without interest, for each outstanding share of common stock of Net2Phone. Based on the closing price of Net2Phone common stock on June 28, 2005, this represents a 21% premium over the current value of the Net2Phone common stock.

The offer will be subject to the non-waivable condition that the offer be accepted by holders of a majority of the outstanding shares of common stock not owned by IDT or its affiliates and the waivable condition that IDT own at least 90% of the outstanding shares of common stock following consummation of the offer. Also, as promptly as practicable following the consummation of the offer, IDT will effect a merger of Net2Phone with a subsidiary of IDT in which all remaining holders of Net2Phone common stock would receive the same consideration for their shares as the holders who tendered their shares received in the offer. The offer also will be subject to other terms and conditions that will be set forth in the tender offer materials to be distributed to Net2Phone stockholders.

IDT urges the Board of Directors of Net2Phone and the Special Committee of the Board already impaneled and its advisors to promptly commence review and consideration of the offer, so that the Special Committee will be positioned to make an informed recommendation to holders of Net2Phone common stock.

IDT anticipates that the offer will be formally commenced after the Special Committee and its advisors have had an opportunity to review and consider the offer.

Very truly yours,

/s/ Ira A. Greenstein

Ira A. Greenstein

President, IDT Corporation

EX-99.29 8 dex9929.htm PRESS RELEASE, DATED JUNE 28, 2005 Press release, dated june 28, 2005

Exhibit 29

LOGO

IDT CORPORATION ANNOUNCES INTENTION TO OFFER TO PURCHASE ALL OUTSTANDING SHARES OF NET2PHONE, INC. FOR $1.70 IN CASH

Newark, N.J., June 28, 2005 – IDT Corporation (NYSE:IDT, IDT.C) announced that its President, Ira A. Greenstein, has today delivered to the Board of Directors of Net2Phone, Inc. (NASDAQ: NTOP) notice of IDT’s intention to commence a tender offer for all outstanding shares of common stock of Net2Phone not owned by IDT or its affiliates, at a price of $1.70 per share, net to the sellers in cash, without interest. IDT currently, directly and indirectly, owns 2,773,798 shares of Net2Phone common stock and 28,896,750 shares of Net2Phone class A common stock representing approximately 41% of Net2Phone’s outstanding equity securities and approximately 57% of the total voting power of Net2Phone’s outstanding equity securities. IDT anticipates that the offer will be commenced after the Special Committee of the Net2Phone Board of Directors and its advisors have had an opportunity to review and consider the offer.

The closing price for the Net2Phone common stock on June 28, 2005 was $1.41.

The offer will be subject to the non-waivable condition that it be accepted by holders of a majority of the outstanding shares of common stock of Net2Phone not owned by IDT and its affiliates. The offer will be subject to the waivable condition that IDT directly or indirectly own at least 90% of the outstanding shares of common stock of Net2Phone following consummation of the offer. As promptly as practicable following the consummation of the offer, IDT will effect a merger of Net2Phone with a subsidiary of IDT in which all remaining holders of Net2Phone common stock would receive the same consideration for their shares as the holders who tendered their shares received in the offer. The offer also will be subject to other terms and conditions that will be set forth in the tender offer materials to be distributed to Net2Phone stockholders. Following consummation of the merger, IDT intends to delist Net2Phone’s common stock from quotation on Nasdaq and terminate the registration of Net2Phone’s common stock under the Securities Exchange Act of 1934.

IDT will file a tender offer statement, a statement on Schedule 13E-3 and related documents with the SEC with respect to the offer when it is commenced. Net2Phone stockholders should read the tender offer statement and the other documentation when they become available because they will contain important information. Investors can get the tender offer statement, the statement on Schedule 13E-3 and other filed documents without charge from the web site of the SEC at www.sec.gov after these documents are filed. Investors will also be able obtain the tender offer statement and related documents from IDT without charge by directing a request to IDT Corporation, 520 Broad Street, Newark, New Jersey, Attention: Investor Relations, Telephone: (973) 438-1000.

IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers

worldwide. IDT Telecom, by means of its own international telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Entertainment is the IDT subsidiary focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT Capital is the IDT division principally responsible for the Company’s initiatives in radio broadcasting, brochure distribution and new technologies. Net2Phone, Inc., a subsidiary of IDT Corporation, is a provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscribers.

IDT Corporation’s Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

Contact:

Gil Nielsen, IDT Corporation

973-438-3553

Mary Jennings, IDT Investor Relations

973-438-3124

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