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                         [IDT Letterhead]


IDT Corporation Completes Rule 144A Offering of $100 Million of Senior Notes


HACKENSACK, NJ - February 12, 1998 - IDT Corporation (NASDAQ: IDTC) today 
announced that it has completed an offering of $100 million principal amount 
of its 8.75% Senior Notes due 2006. IDT is offering the Senior Notes pursuant 
to Rule 144A and Regulation S under the Securities Act of 1933, as amended, 
and will not register the Notes upon initial issuance. The closing of the 
offering is expected to take place on February 18, 1998.


IDT intends to use the proceeds from the sale of the notes for the expansion 
of its international and domestic telecommunications network, product 
development expansion of its sales and marketing activities, and working 
capital and other general corporate purposes. In addition, the Company may 
use the proceeds from the sale of the Notes offered by the Company hereby for 
acquisitions of complementary products, technologies or businesses.


The initial purchasers will offer the Notes only to Qualified Institutional 
Buyers as permitted under Rule 144A of the Securities Act and to certain 
persons in reliance on Regulation S under the Securities Act. The Notes 
initially will not be registered under the Securities Act and may not be sold 
in the United States absent registration or an exemption from the 
registration requirements of the Securities Act. This press release does not 
constitute an offer to sell or the solicitation of an offer to buy the Notes.


The offering has been underwritten by BT Alex Brown, Hambrecht & Quist, 
Jefferies & Co., and Friedman, Billings, Ramsey & Co. IDT is a leading 
emerging multinational carrier that combines its position as an 
international telecommunications operator, its experience as an Internet 
service provider and its leading position in Internet telephony to provide a 
broad range of telecommunications services to its wholesale and retail 
customers worldwide. The Company provides its customers with integrated and 
competitively priced international and domestic long distance, Internet 
access and, through its Net2Phone product offerings, Internet telephony 
services.


This release contains forward looking statements, which include IDT's plan to 
implement its growth strategy, improve its financial performance, expand its 
infrastructure, develop new products and services, expand its sales force, 
expand its customer base and enter international markets. Such 
forward-looking statements also include IDT's expectations concerning factors 
affecting the markets for its products,such as demand for long distance 
telecommunications Internet access, and online services and Internet 
telephony services. These forward-looking statements are subject to risks and 
uncertainties that could cause actual results to differ materially from those 
projected. IDT assumes no obligation to update such forward-looking 
statements or to update the reasons actual results could differ materially 
from those anticipated in any forward-looking statements made by IDT, due to, 
among other things, those factors identified in Part I of IDT's Annual Report 
on Form 10-K for the fiscal year ended July 31, 1997, as amended.




