Broadcast.com to provide Net2Phone on its web site; Click2Talk, new voice-enabled E-Commerce solution, to be incorporated into broadcast.com’s live broadcast of IDT’s earnings conference call

Hackensack, NJ – May 20, 1998 – IDT Corporation (NASDAQ: IDTC) today announced that they have signed an online marketing agreement with broadcast.com, formerly AudioNet, whereby Net2Phone will be the exclusive provider of Internet telephony services on the broadcast.com web site. Users will have direct access to download the Net2Phone free software enabling anyone in the world to place calls over the Internet to any telephone around the world. Net2Phone will also have targeted banner advertising across certain broadcast.com web sites. Broadcast.com is the leading aggregator and broadcaster of streaming media programming on the Web. To kick off the new agreement, IDT will broadcast the audio feed of the first Internet telephony earnings conference call for its impending 3Q FY98 earnings, to be held Thursday, May 21, 1998 at 4:30 PM EST via broadcast.com. Users can access the live conference call at http://events.broadcast.com/events/idt, and will be able click on IDT's "Click2Talk" icon and call into the conference through their PCs with questions to executives. Not only will this allow for voice interaction, but it will also enable those outside the U.S. to call into the conference call for free. This service will soon be available commercially to all broadcast.com business services clients. "This agreement is part of our mission to identify and maximize opportunities to expand our market base and grow the Net2Phone brand," said Jonathan Reich, VP of business development at IDT. "Harnessing broadcast.com's dynamic audience will help us reach new customers and further position Net2Phone as the leading provider of telecommunications services over the Internet. Additionally, visitors to the broadcast.com web site are ideal users of Net2Phone as they already have a sound card and speakers in their computer, which will make them more targeted customers." "We are pleased to work with IDT to add their Internet telephony products to the extensive Internet and intranet broadcasting and distribution services we currently provide to businesses and other organizations," said Todd Wagner, CEO of broadcast.com. "Our users will benefit from the ability to interact through voice participation in addition to listening to the broadcast." 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 including Net2Phone Direct and Net2Fax. Broadcast.com (formerly AudioNet) is the leading aggregator and broadcaster of streaming media programming on the Web. The company has the network infrastructure and expertise to deliver or "stream" hundreds of live and on-demand audio and video programs over the Internet or intranets to hundreds of thousands of users. The broadcast.com Web sites offer a large and comprehensive selection of programming, including sports, talk and music radio, television, business events, full-length CDs, news, commentary and full-length audio books, serving an average of over 400,000 unique users per day. Broadcast.com broadcasts on the Internet 24 hours a day, seven days a week, and its programming includes more than 310 radio stations and networks, 17 television stations and cable networks, and game broadcasts and other programming for over 350 college and professional sports teams. Broadcast.com also provides Internet and intranet broadcasting services to businesses and other organizations, including turnkey production of live and archived press conferences, earnings conference calls, investor conferences, trade shows, stockholder meetings, product introductions, training sessions, distance learning telecourses, and media events. For more information on broadcast.com and its live and on-demand programming, visit www.broadcast.com. 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.