Hackensack, NJ., March 6, 1997 IDTs (NASDAQ: IDTC) Net2Phone today announced an agreement with Daewoo Corporation to resell Net2Phone exclusively in Korea. Daewoo has already pre-purchased hundreds of thousands of minutes and is minimally committing to pay an additional $300,000 to IDT for wholesale minutes over the next year. Through additional agreements with 16 independent companies, Net2Phone is now available in Korean, Spanish, French, German, Russian, Italian, Dutch, and will be available on the World Wide Web in Japanese, Hebrew, and Chinese by the end of this quarter.

"The agreements we have signed with Daewoo and comparable resellers will enable IDT to emerge as the worlds largest and most accessible Internet telephony company," said IDT CEO Howard Jonas. "Net2Phone revenues have quadrupled in the last quarter, and through these agreements, we plan to see much more growth in the months to come, with Net2Phone profits expected by the end of the 3rd quarter." "This relationship with IDT will further establish Daewoo as a leader in the field of Korean Telecommunications, we are looking forward to the future success of Net2Phone," said Young Rae Kim, Deputy General Manager of Daewoo International. "Daewoo is very excited about the opportunity to provide the latest and most advanced telecommunications applications in the field of Internet telephony to the Korean market."

Net2Phone is IDTs proprietary technology enabling computer users to place calls over the Internet to any telephone around the world for as little as 10 cents a minute. IDT released the PC version in July and the Macintosh version in February. As of the quarter ending January 31, Net2Phones revenues grew to $392,223, up from $79,347 just three months ago. Net2Phone delivers a real-time, business quality, full-duplex, encrypted, communication system with point-to-point connectivity.

IDT and Quicknet Technologies, Inc. have signed a letter of intent to bundle Net2Phone with Internet PhoneJACK, a telephony expansion card designed to enhance Net2Phones sound quality. The Internet PhoneJACK is a full duplex sound card with full PSTN emulation (simulating an ordinary phone line) and will feature echo cancellation, H.323, audio in-line compression, and touch tone dialing. Internet PhoneJACK will be available in computer stores by the end of this quarter.

"Quicknets technology will help make Net2Phone more user-friendly," said Jordan Katz, Director of Net2Phone Strategic Alliances. "As our revenues continue to grow, we are looking to expand our customer base even more, and Internet PhoneJACK enables us to do that with ease." "By combining Internet PhoneJACK with IDTs Net2Phone, we are able to e provide Internet telephony users with not only the sound quality users expect in long distance calling, but also terrific savings," said Stacey Reineccius, President and CEO of Quicknet Technologies.

IDT Corporation

IDT Corporation is an innovative telecommunications company offering international and domestic long distance service, Internet access, and Internet telephony services. The Company resells international long distance services in 120 countries at the wholesale and retail levels. IDT is also one of the largest U.S. Internet service providers, providing dial-up access to individuals and dedicated access to corporate customers nationwide. The Company recently introduced Net2Phone - the first commercial telephone service to bridge live calls between the Internet and regular telephones. Net2Phone is a trademark of IDT Corporation.

Internet PhoneJACK is a registered trademark of Quicknet Technologies Inc.Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward looking statements that involve risks and uncertainties. Although the Company has used its best efforts to be accurate in making these forward looking statements, it is possible that the assumptions made by management are not necessarily the most likely and may not materialize. :Many factors could cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to establish and maintain market acceptance of the Company's products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for the Company's products, loss of market share and pressure on prices resulting from competition, introduction of competing products and implementation of industry standards by other companies, lack of development and system failure of the Internet, generally, and the market for voice, audio and multimedia communications over the Internet, specifically, regulatory obstacles to the use of the Internet for communications, inability to manage growth, inability to develop direct distribution network and loss of major distributors, dealers and partners. For additional information regarding these and other risks and uncertainties associated with the Company's business, reference is made to the Company's reports filed from time to time with the Securities and Exchange Commission.