IDT CEO Jim Courter To Remain as Vice Chairman

IDT Corporation (NYSE: IDT, IDT.C) announced today that Vice Chairman and CEO Jim Courter will remain as the Company’s non-executive Vice Chairman of the Board after his tenure as Chief Executive Officer expires on October 21, 2009.

In October of 2008, the Company announced that Mr. Howard Jonas, founder and current Chairman of the Board of IDT, would re-assume the role of CEO when Mr. Courter stepped down.

"I am delighted that Jim will continue to contribute to IDT’s growth in the coming years as Vice Chairman of the Board,” said Howard Jonas. "He has done marvelous work as CEO. His counsel and seasoned judgment have been, and will continue to be, important to the Company’s future.”

"Jim Courter is one of the finest individuals and chief executives I have ever dealt with,” said James Mellor, IDT’s Lead Independent Director. "I am delighted that we will continue working together on IDT’s Board.”

"I look forward to focusing on my work as Vice Chairman of IDT’s Board,” said Mr. Courter. "I’m particularly pleased by the progress we have made in the past year to restructure operations and prepare for future growth. Howard Jonas has always been IDT’s visionary, and there is no one better qualified to lead the Company and continue this progress as its CEO.”

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.