Hackensack, NJ.—February 23, 1998-- IDT Corporation (NASDAQ: IDTC), a leader in international telecommunications, has recently received three industry awards. Forbes Magazine ranked IDT 6th of the 100 most dynamic telecommunications company in its ASAP section, and Deloitte & Touche named IDT 7th in their Technology Fast 500 list. Additionally, Computer Telephony Integration Magazine named IDT’s Net2Phone Direct "Editor’s Choice" for IP telephony solutions.

"These awards and recognition re-affirms IDT’s strong commitment to providing low-cost alternatives to high-priced telecommunications while still maintaining exceptional quality and service," said IDT’s President Jim Courter. "IDT will continue to show exemplary growth and showcase its vast products and services to the public."

Forbes ASAP, a quarterly supplement to Forbes, asked more than 200 analysts and money managers to rate more than 900 technology companies on six factors: 1) responsiveness to market change, 2) market potential, 3) product development and marketing expertise, 4) quality of management, marketing, sales and support staff, 5) strength of alliances and partnerships, and 6) outlook for growth. The Top 100 companies were separated into seven categories from networking to telecommunications. IDT was named 6th most dynamic telecommunications company.

"It’s the latest thing – Internet telephony – and IDT is in it big," reported Forbes ASAP in its February 23rd issue. "This reseller and route of international long distance calls was the first to make voice a reality over the Web."

"We are seeing new technology clusters emerging in states all across the country, states not traditionally known for having high technology industries," said Mark Evans, national managing director for Deloitte & Touche's High Technology Group. The Technology Fast 500 is a unique awards program that exclusively recognizes fast-growing technology companies. The companies are ranked by percentage growth in revenue over a five-year period.

IDT is a leading emerging multinational carrier that combines its position as an international telecommunications operator, its experience as an Internet service provider and its leading position in Internet telephony to provide a broad range of telecommunications services to its wholesale and retail customers worldwide. The Company provides its customers with integrated and competitively priced international and domestic long distance, Internet access and, through its Net2Phone product offerings, Internet telephony services.

Except for historical information, all of the expectations and assumptions contained in the foregoing are forward-looking statements involving risks and uncertainties. Important factors that could cause actual results to differ materially from such forward-looking statements, include, but are not limited to, the competitive environment for Internet telephony, changes of rates of all related telco rates and services, legislation that may affect the Internet Telephony industry, IDT's ability to operate the services described on a large scale commercial level. For additional information regarding these and other risks associated with the Company's business refer to the Company's reports filed with the SEC.