Net2Phone Launches Consumer Long Distance Dial-around Service
New feature offers simple access to VoIP without the purchase of any equipment

Newark, NJ - June 23, 2003 -Net2Phone, Inc. (NASDAQ: NTOP), the leading provider of retail Voice over IP (VoIP) services, today announced that its Net2Phone Global Services division has launched No-PIN Dialing as a new feature for its rechargeable calling cards. No-PIN Dialing allows Net2Phone customers to access its worldwide VoIP network without purchasing equipment, switching carriers, or entering a 14-digit account number/PIN. Users simply dial the access number of their calling card service and can place calls to anywhere in the world from the US.

The No-PIN Dialing feature, now available for Net2Phone’s PennyTalk and Net2Phone Directâ Calling Cards, is based on a new technology created by Net2Phone that recognizes the number from which a customer is calling and authenticates the account. Customers can register up to 5 phone numbers (a cell phone number, home phone number, or any other number a customer frequently calls from) with each account at no extra charge.

“This new feature enables our customers to make VoIP phone calls from their home, business or cellular phones at no added expense and without having to purchase any equipment, switch their phone company, or subscribe to any additional services,” said David Span, Senior Vice President of Consumer Services. “We expect this to bring new value to our customers while helping to reduce churn, increase recharges and improve customer retention. Now the hassle of remembering account and PINs are eliminated, making Net2Phone phone calls easier than ever.”

Net2Phone Direct and Pennytalk are rechargeable calling cards. Net2Phone Direct offers calls as low as 3.9 cents per minute to almost every country in the world without any connection fees, and can be purchased at www.net2phonedirect.com. Pennytalk offers calls for 1 cent per minute in the United States and as low as 2 cents per minute internationally with a 49-cent connection fee. Pennytalk is available for purchase at www.pennytalk.net. All calls on both cards are routed over Net2Phone’s award winning managed IP network, which provides toll quality service and significant cost savings over traditional service providers.

About Net2Phone
Founded in 1995, Net2Phone is a leading provider of voice services over IP networks worldwide, enabling toll-quality calls between computers, telephones, and broadband devices. Recognized as the first Company to bridge the Internet with the public switched telephone network, Net2Phone has routed billions of minutes of traffic over its award-winning network. Incorporated within the company are (1) Net2Phone Global Services, which sells retail VoIP solutions globally and (2) Net2Phone Cable Telephony, which has developed a fully outsourced standards-compliant telephony solution for cable operators. Traded on the NASDAQ under the symbol NTOP, Net2Phone's strategic partners and investors include Liberty Media Corporation (NYSE: LMC.A; LMC.B) and IDT Corporation (NYSE: IDT; IDT.C). 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, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward- looking statements involve risks and uncertainties and actual results could differ materially from those discussed in the forward-looking statements. For this purpose, any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Factors which may affect the Company's results include, but are not limited to, the Company's ability to expand its customer base, the Company's ability to develop additional and leverage its existing distribution channels for its products and solutions, dependence on strategic and channel partners including their ability to distribute the Company's products and meet or renew their financial commitments, the Company's ability to address international markets, the effectiveness of the Company's sales and marketing activities, the acceptance of the Company's products in the marketplace, the timing and scope of deployments of the Company's products by customers, fluctuations in customer sales cycles, customers' ability to obtain additional funding, technical difficulties with respect to the Company's products or products in development, the need for ongoing product development in an environment of rapid technological change, the emergence of new competitors in the marketplace, the Company's ability to compete successfully against established competitors with greater resources, the uncertainty of future governmental regulation, the Company's ability to manage growth, obtain patent protection, and obtain additional funds, general economic conditions and other risks discussed in this Report and in the Company's other filings with the Securities and Exchange Commission. All forward-looking statements and risk factors included in this document are made as of the date hereof, based on information available to the Company as of the date thereof, and the Company assumes no obligation to update any forward-looking statement or risk factors.