Net2Phone to Report Q2 Fiscal 2004 Earnings on March 9
Company to present at conferences globally

Newark, NJ - February 25, 2004 - Net2Phone, Inc. (Nasdaq: NTOP), a leading provider of retail Voice over IP (VoIP) services, is expected to release its Second Quarter (ended January 31, 2004) Fiscal Year 2004 statement of earnings on Tuesday, March 9, 2004 after the market closes.

Please join us for a live webcast at 4:30 PM EDT. Participants may access the live webcast by visiting: http://web.net2phone.com/about/investor/earning.asp or www.vcall.com.

Net2Phone also announced today participation in the following upcoming events. Interested parties can view details of these events on Net2Phone's Web site at http://web.net2phone.com/about/investor/events.asp.

• Mar. 11-12, 2004 - JP Morgan Small Cap Conference: Think Big, Buy Small, Denver, CO. Stephen Greenberg, Chief Executive Officer of Net2Phone, will discuss recent partnerships and product developments at Net2Phone as well as provide a market outlook on Voice over IP.
• March 17-18, 2004 - Janco 9th Annual Media & Telecom Conference, Denver, CO. Stephen Greenberg, Chief Executive Officer of Net2Phone, will discuss recent Net2Phone announcements, developments and offer a perspective on the VoIP market.
• March 28-Apr 1, 2004 - Spring VON, Santa Clara, CA. Bryan Wiener, President, Net2Phone Global Services, will be presenting on consumer Voice over Broadband Services. He will discuss the interest level in the marketplace as well as what consumers should expect from providers in the future.
• March 30, 2004 - Dresdner Kleinwort Wasserstein "European Telecommunications and Technology Opportunities and Threats Conference," London, UK. Gerry Pearce, Vice President of Strategic Alliances, Net2Phone Cable Telephony, will discuss the market opportunities for VoIP solutions in Europe.

About Net2Phone
Founded in 1995, Net2Phone is a leading provider of retail VoIP services globally, comprised of two wholly owned subsidiaries. Net2Phone Global Services ("NGS") provides consumers and small businesses globally with bundled voice and enhanced services either directly or via partners. Net2Phone Cable Telephony ("NCT") provides cable operators with a turn-key solution to deliver residential phone service to their subscribers. While the opportunities for each unit differ, each division relies on quality partners for distribution and each utilizes a centralized platform to deliver retail services at a low incremental cost. Traded on the NASDAQ under the symbol NTOP, Net2Phone's strategic partners and investors include Liberty Media Corporation (NYSE: L; 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.