FCC Approves IDT Spectrum for WiMax Operations along Gulf Coast and in Colorado

IDT Spectrum said today that the FCC has authorized it to operate forty six (46) WiMAX base stations in the 3.65 GHz band. IDT Corporation (NYSE: IDT; IDT.C), IDT Spectrum’s parent company, is a telecommunications and energy holding company engaged, through an affiliated company, in an oil shale research and development project in Western Colorado.

The authorization affords IDT Spectrum the opportunity to provide WiMAX services in Texas, Louisiana and Colorado within an area that contains approximately 350 oil rigs.

Michael Rapaport, CEO of IDT Spectrum, said that WiMAX services could help headquarters and regional offices of oil and gas exploration and services firms to forge cost effective, virtual connections with their rigs and platforms in the field.

"Real-time streaming of well head data, VoIP, fax services, video surveillance and other types of information from the rigs and platforms could be transferred over a WiMAX network to onshore technical teams that can monitor and analyze data from multiple platforms simultaneously,” said Rapaport. "In the Gulf and on the mainland, enhanced communications between the on-site crew and off-site technicians are a key productivity driver.”

Jim Courter, CEO of IDT Corp, said that IDT was examining ways to leverage its communications expertise to service the oil and gas industry. "IDT continues to explore synergies between our telecommunications and energy businesses, including our oil shale venture in Western Colorado.”

About IDT Spectrum:

IDT Spectrum holds over 1,250 FCC licenses of fixed wireless spectrum. These include 39 GHz licenses covering every USA City, a 28 GHz licenses covering selected USA cities, and a nationwide 3.65 GHz license. IDT Spectrum leases spectrum for point-to-point links, point-to-multipoint paths and also leases big geographic areas of spectrum. Please visit our website at www.idtspectrum.com

About IDT Corporation:

IDT Corporation (www.idt.net) is a multinational holding company focused on the telecommunications and energy industries. IDT Corporation's Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those with 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. All forward-looking statements and risk factors included in this document are made as of the date hereof, based on information available to IDT as of the date thereof, and IDT assumes no obligation to update any forward-looking statements or risk factors.