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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 B6pkePkGcjPp45s5n4flUpTFaoK9qMYHGPGW6aGDQXn9uWY8i7s1p6w0Yvv4nyBx
 qsbwjjrK3N3BADGDeRmdrA==

<SEC-DOCUMENT>0001181431-03-024166.txt : 20030924
<SEC-HEADER>0001181431-03-024166.hdr.sgml : 20030924
<ACCEPTANCE-DATETIME>20030924113535
ACCESSION NUMBER:		0001181431-03-024166
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030922
FILED AS OF DATE:		20030924

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SCHULMAN DANIEL
		CENTRAL INDEX KEY:			0001082911

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26763
		FILM NUMBER:		03907286

	BUSINESS ADDRESS:	
		STREET 1:		C/O ORRICK HERRINGTON & SUTCLIFFE LLP
		STREET 2:		30 ROCKEFELLER PLZ 40TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10112

	MAIL ADDRESS:	
		STREET 1:		C/O ORRICK HERRINGTON & SUTCLIFFE LLP
		STREET 2:		30 ROCKEFELLER PLZ 40TH FL
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10112

ISSUER:		

	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

	BUSINESS ADDRESS:	
		STREET 1:		520 BROAD STREET
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102
		BUSINESS PHONE:		9734122800

	MAIL ADDRESS:	
		STREET 1:		17 MAIN STREET
		CITY:			HACKENSACK
		STATE:			NJ
		ZIP:			07601
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd18995.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-09-22</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001086472</issuerCik>
        <issuerName>NET2PHONE INC</issuerName>
        <issuerTradingSymbol>NTOP</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001082911</rptOwnerCik>
            <rptOwnerName>SCHULMAN DANIEL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>520 BROAD ST</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEWARK</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07102</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>0</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther></reportingOwnerRelationship></reportingOwner><derivativeTable><derivativeTransaction><securityTitle><value>Employee Stock Option (right to buy)</value></securityTitle><conversionOrExercisePrice><value>7.34</value></conversionOrExercisePrice><transactionDate><value>2003-09-22</value></transactionDate><transactionCoding><transactionFormType>5</transactionFormType><transactionCode>A</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>10000</value></transactionShares><transactionPricePerShare><value>7.34</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><exerciseDate><value>2003-09-22</value></exerciseDate><expirationDate><footnoteId id="F1"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Common Stock</value></underlyingSec
urityTitle><underlyingSecurityShares><value>10000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>10000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeTransaction></derivativeTable><footnotes><footnote id="F1">The option shall expire on the first to occur of (i) the tenth anniversary of the date of grant, (ii) the first anniversary of the reporting person's termination of service as a member of the board other than for cause, or (iii) three months following the reporting person's removal from the board for cause.</footnote></footnotes><ownerSignature><signatureName>/s/ Glenn Williams, Attorney-in-Fact</signatureName><signatureDate>2003-09-24</signatureDate></ownerSignature></ownershipDocument>



</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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