Hannover, Germany - February 28, 2000 --- Net2Phone Inc. (NASDAQ: NTOP) and Samsung Electronics Co., Ltd. today announced a strategic alliance to create Voice over IP (VoIP) products for businesses worldwide. The new products will be showcased at the CeBIT technology show this week at both companies' booths (Net2Phone: Hall 6, Stand F20 (F08); Samsung: Hall 7, Stand C45, Hall 10, 2.OG, Stand 230, Hall 12, Stand C47, Hall 26, Stand C68).

Under the agreement, Samsung and Net2Phone will create two devices specifically designed to empower corporations with high quality Internet telephony services using Net2Phone's VoIP, billing, and routing technologies along with Samsung's hardware expertise and distribution channels.

"Net2Phone's services have received worldwide acclaim for reliability and efficiency, and we are very pleased to be working with them to provide cost-efficient solutions to our customers around the world," said Kwansoo Lee, Executive Vice President of Internet Infra Business at Samsung Electronics. "We believe that businesses worldwide will realize the benefits of Internet telephony, and we plan on bringing optimized solutions to them."

The first product, IP KeyPhone, is a PBX device (Private Branch eXchange - a phone system for businesses) designed for small to mid-sized businesses. The device has full PBX functionality, connects directly to the Internet or an ISDN line, and will be packaged with limited free VoIP minutes.

The second product, the Samsung IP Gateway, is designed for larger corporations, and can plug into the business' existing PBX and LAN infrastructure. By connecting the Samsung IP Gateway into corporations' networks, businesses can benefit from the low-cost international calling as well as the scalability of VoIP.

"Enterprises around the world are looking for a seamless way to integrate Internet telephony into their current infrastructure, and Samsung's products provide a user-friendly conduit to achieving that goal," said David Greenblatt, Chief Operating Officer of Net2Phone. "Our award-winning technology combined with Samsung's powerful hardware and distribution channels will provide a turn-key solution for businesses globally."

Using Net2Phone's extensive gatekeeper solution, Samsung's VoIP customers will have access to Call Detail, Billing history and Account Information over a secure web site in real-time. By utilizing Net2Phone's existing Least Cost Routing capabilities, Net2Phone provides efficient 8:1 compression and toll quality audio, and can terminate calls to anywhere in the world.

Samsung will market and distribute both products through its thousands of channels throughout the world. The IP KeyPhone will be available to the marketplace beginning next month, and the IP Gateway will be available this summer. For more information about pricing and distribution, please call Youngho Lee at 82-2-751-2670 or tonylee@samsung.co.kr.

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.

Samsung Electronics Co., Ltd., with 1999 sales revenue of US$22.8 billion is a world leader in the electronics industry. The Korea-based concern has operations in about 50 countries with 54,000 employees worldwide. The company consists of three main business units: Digital Media, Semiconductors and Information & Communications Businesses. For more information, please visit our website, http://samsungelectronics.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 January 31, 2000 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.