Bear Stearns' Vice Chairman of Investment Banking joins leading international telecommunications company's Board of Directors

HACKENSACK, NJ, September 25, 1997 -- IDT Corporation (NASDAQ: IDTC) today announced the appointment of Denis A. Bovin, to the Board of Directors of IDT Corporation. Mr. Bovin is Vice Chairman of Investment Banking and Senior Managing Director of Bear Stearns & Co. His appointment is effective immediately.

In his active role as IDT Board Member, Mr. Bovin will advise and help the Company towards fostering relationships with executives in both investment banking and telecommunications communities. Mr. Bovin has more than 25 years of experience in strategic and financial concerns of domestic and international companies, and was heavily involved in aiding the growth of leading international telecommunications companies such as GTE, NYNEX, and MFS Communications, currently owned by WorldCom.

"IDT represents the future of international telecommunications, and I'm fortunate to be joining the Company's Board as they experience such growth," said Mr. Bovin.

Prior to joining Bear Stearns, Mr. Bovin spent more than two decades at Salomon Brothers Inc., and headed their Investment Banking Corporate Coverage and Capital Markets divisions. He previously headed the firm's Communications and Technology group which covered computer, defense, telecommunications, electronic, office equipment, and media companies.

"Not only is Denis one of the most knowledgeable and intelligent people I know, but we've found him to be one of the most astute businessmen I've ever met," stated Howard Jonas, IDT Chairman and CEO. "Jim Courter, Howie Balter, myself, and the entire IDT management are incredibly excited to have Denis join the IDT team."

"With his extensive experience at both Bear Stearns and Salomon Brothers, Denis lends tremendous wisdom and vision to IDT," stated Jim Courter, President of IDT. "We look forward to working closely with Denis on international telecom development and deployment strategies."

A recipient of many awards, Mr. Bovin has been named one of the country's most outstanding investment bankers by Institutional Investor Magazine, and is listed in Who's Who in Finance and Industry. He has also received several honors and awards from his alma mater, the Massachusetts Institute of Technology, including its highest honor for alumni.

IDT Corporation is a diversified telecommunications company with seven years of innovation within the international telecommunications arena offering a variety of wholesale and retail services. The Company routes and resells international long distance services to individuals and businesses in over 225 countries and to telecommunications carriers in the US and overseas. The Company currently has over 400,000 retail customers using an array of services including international long distance, Internet, and Internet telephony services. The Company is a leader in Internet Telephony, routing telephone calls over the Internet at substantially reduced rates.

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, changes of rates of all related telco rates and services, legislation that may affect the international telecommunications 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