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Corporate Information

On March 13, 2006, Net2Phone, Inc. completed a merger with a wholly-owned subsidiary of IDT Corporation, NTOP Acquisition. As a result of the merger, Net2Phone, Inc. is now a wholly-owned subsidiary of IDT.

On Friday, March 10, 2006, Net2Phone stockholders consented to the adoption of the merger agreement and the approval of the merger following a consent solicitation by Net2Phone. As of March 3, 2006, the record date for the consent solicitation, IDT beneficially owned approximately 82.5% of the outstanding equity of Net2Phone and approximately 87.2% of the outstanding voting power of Net2Phone. IDT provided its consent with respect to all of its Net2Phone shares.

The merger was completed pursuant to the Agreement and Plan of Merger previously entered into among IDT, NTOP Acquisition and Net2Phone. The remaining stockholders of Net2Phone will receive the same consideration of $2.05 per share in cash as was received by the Net2Phone stockholders who tendered in the offer. As result of the merger, shares of Net2Phone capital stock are no longer publicly traded.

Net2Phone will continue to operate its business as a subsidiary of IDT. For more information about IDT, please go to www.idt.net.

Contact Information:

Corporate Headquarters
Net2Phone, Inc.
520 Broad Street
Newark, NJ 07102
Phone Number: (973) 438-3111

Please use this phone number only for general inquiries about Net2Phone. For customer support, billing, account information or technical questions, click here.

For more information about the PennyTalk prepaid calling card, please visit our web site at http://www.pennytalk.com.
 

 
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