NEWARK, N.J. - March 29, 2004 - IDT Corporation (NYSE: IDT, IDT.C), a multinational carrier, telephone and technology company, today announced that the Hon. Dov S. Zakheim, retiring Under Secretary of Defense and Chief Financial Officer of the Department of Defense, has been appointed to the Board of Directors of IDT Telecom, effective April 19, 2004. IDT Telecom is IDT's largest operating division, offering retail and wholesale telecommunication services.

"Dov Zakheim has held prestigious positions in government, business and academia," said Jim Courter, IDT's Vice Chairman and CEO. "In a challenging telecommunications marketplace, Dov provides IDT with expertise in economics and strategic planning and brings an outstanding record of leadership to the board. Dov's experience and sound judgment will play a critical role in IDT¿s continued growth."

Dr. Zakheim was sworn in as the Under Secretary of Defense (Comptroller) and Chief Financial Officer of the Department of Defense on May 4, 2001. Prior to that, he served in a number of key positions in government and private industry, including Corporate Vice President of System Planning Corp, a technology, research and analysis firm, and Chief Executive Officer of SPC International Corp., a firm specializing in political, military and economic consulting.

IDT also recently announced that the Hon. Leon Panetta and Leo Hindery were appointed to the Board of Directors of IDT Telecom. Mr. Panetta served as Chief of Staff to President Clinton and Director of the Office of Management and Budget for the Clinton administration. Mr. Hindrey is the Chairman and CEO of The YES Network, the NY Yankees sports and entertainment television network.

IDT Corporation, through its IDT Telecom subsidiary, is a facilities-based, multinational carrier that provides a broad range of telecommunications services to retail and wholesale customers worldwide. IDT Telecom, by means of its own national telecommunications backbone and fiber optic network infrastructure, provides its customers with integrated and competitively priced international and domestic long distance and domestic all-distance telephony and prepaid calling cards. IDT Entertainment is the IDT subsidiary focused on developing, acquiring, producing and distributing computer-generated and traditionally animated productions and other productions for the film, broadcast and direct-to-consumer markets. IDT Media is the IDT subsidiary principally responsible for the Company's initiatives in radio broadcasting, brochure distribution and new video technologies. Winstar Holdings, LLC, which provides service under the IDT Solutions brand, is the IDT subsidiary focused on providing broadband and telephony services to commercial and governmental customers through a fixed-wireless and fiber infrastructure. Net2Phone, Inc., a subsidiary of IDT Corporation, is a leading provider of high-quality global retail Voice over IP services and offers a fully outsourced cable telephony service to cable operators allowing cable operators to provide residential phone service to their subscribers.

IDT Corporation' Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

Important Note: In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which the words "believe," "anticipate," "expect," "plan," "intend," "estimate", "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent IDT's current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in IDT's most recent report on SEC Form 10-K (under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations"), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K and other filings IDT may make with the SEC.