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London, 5 December 2002 – IDT Europe, the UK’s leading provider of pre-paid phone cards, is proud to announce that it has been selected as the pre-paid calling card provider to the Arsenal Football Club, London’s number one Premier League football team. IDT Europe is a division of IDT Corporation (NYSE: IDT, IDT.b), a multinational carrier and telephone company.

The Arsenal branded prepaid phone cards are available in £5, £10 and £20 denominations and can be used to make international calls from any phone in the UK, to over 250 countries worldwide including Turkey, Cyprus, Greece, Somalia, Poland and Russia, from prices as low as £0.05p per minute (see table over the page for examples of competitive prices).

"At Arsenal, we understand that our supporters deserve to be rewarded for their loyalty, and consequently have teamed up with Reward and IDT Europe to offer fans low cost international call rates, through a range of Arsenal branded phone cards. UK-based Arsenal supporters can stay in touch with friends and family across the globe at a much cheaper international rate," said Arsène Wenger, Arsenal FC Ltd.

Football merchandising is a fast-growing and hugely popular business and Arsenal is pleased to offer its fans an additional piece of collectable memorabilia in the form of an easy-to-use international prepaid phone card, supplied by IDT.

Football is more than just a game to fans, it’s a lifestyle, and now Arsenal fans can purchase a phone card that reminds them of the Gunners every time they use it. The card depicts the full squad with international players such as Thierry Henry, Patrick Vieira and Freddie Ljungberg and allows users to take advantage of IDT’s high quality and low-cost rates to stay in touch with friends and family worldwide.

“Football clubs are becoming increasingly aware of the lucrative opportunities and benefits that the phone card business has to offer and are looking to extend and strengthen their club’s brand with their fan base,” said Marc Bodner, Managing Director, IDT Europe. “We are proud to be the service provider for the official Arsenal FC pre-paid phone cards.”

Competitive rates are available on request.

About IDT Europe

IDT Europe, a division of IDT Telecom, concentrates its expertise in two main product categories: retail calling cards and wholesale carrier services. Formed in 1998, IDT Europe has already established itself as one of the leading prepaid card operators in Europe, offering more than 40 different phone cards in over 100,000 retail outlets. IDT Europe's core retail and wholesale strengths have enabled the company to maintain a broad customer base while significantly enhancing gross margins and profitability.

By establishing long-term agreements with the major global carriers to interconnect IDT's facilities with those of their foreign partners in Europe, Latin America, Africa and Asia, IDT Europe terminates traffic to over 180 countries.

IDT Europe is headquartered in London and has offices and/or Points of Presence (POPs) in Ireland, the Netherlands, Belgium, France, Germany, Italy, Spain, and Scandinavia.

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IDT Corporation

IDT, through its IDT Telecom subsidiary, is a leading facilities-based, multinational carrier that provides a broad range of telecommunications services to its retail and wholesale customers worldwide. Through its own national telecommunications backbone and fiber optic network infrastructure, IDT Telecom provides its customers with integrated and competitively priced international and domestic long distance telephony and prepaid calling cards. IDT and Liberty Media own 95% and 5 % of IDT Telecom, respectively. IDT Media is the IDT subsidiary principally responsible for the Company's initiatives in media, new video technologies and print media.

Through its various subsidiaries, IDT has interests in several telecom, Internet-related and media companies. IDT acquired Winstar Communications in December 2001. IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT.B and IDT. As of October 18, 2002, there were approximately 54.1 million shares of Class B common stock (IDT.B) outstanding, and approximately 25.0 million shares of common stock (IDT). Of these, about 4.0 million shares of Class B common stock and about 5.4 million shares of common stock were held by units of IDT Corporation.

Except for historical information, all of the expectations and Assumptions contained in the foregoing are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and the Securities Exchange Act of 1934, involving risks and uncertainties. These statements refer to our plans to implement our growth strategy, improve our financial performance, expand our infrastructure, develop new products and services, expand our customer base and enter international markets. The forward-looking statements also include our expectations concerning factors affecting the markets for our products, including the demand for long distance telecommunications, and Internet access services. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the results that we anticipate. These risks and uncertainties include, but are not limited to, those risks discussed in this release. In addition to the factors specifically noted in the forward looking statements, other important factors that could result in those differences include (a) general economic conditions in the telecommunications and Internet markets, including inflation, recession, interest rates, and other economic factors; (b) casualty to or other disruption of our facilities and operations; (c) those discussed in our Annual Report on Form 10K for the period ended July 31, 2001 and (d) other factors that generally affect the business of telecommunications, Internet and other communications companies. We assume no obligation to update these forward-looking statements or to update the reasons actual results could differ materially from the results anticipated in the forward-looking statements.

For media enquiries, please contact:

Sophia Uddin
IDT Europe
Tel: +44 (0)207 549 6000

Sarah Griffiths / Jacquelene Hopwell
Nelson Bostock Communications
Tel: +44 (0)20 7229 4400

This press release was distributed by ResponseSource Press Release Wire on behalf of Nelson Bostock Unlimited in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit