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                                                                    Exhibit 99.1


     HACKENSACK, N.J., APRIL 8, 1998.  IDT Corporation (NASDAQ:  IDTC) is
delighted to announce that it has acquired the InterExchange family of
companies.  InterExchange provides satellite frame relay networking and
carrier-grade internet telephony to over 20 international destinations and also
operates the nation's largest international debit card platform.  IDT management
believes that the transaction will be significantly accretive and will both cut
IDT's costs and facilitate its rapid network buildout plan.  The transaction is
valued at approximately $120 million in cash and stock.  The acquisition is
subject to Hart-Scott-Rodino approval.  An investor conference call will be held
at 4:30 p.m. today.

     Howard Jonas, Chairman of IDT, is quoted as saying:  "This is it.  This is
the deal I have wanted for years, more than any other.  It's taken a long time,
but it was worth it.  Spring training's over now.  The season begins today!"

     Eric Hecht, InterExchange President, said:  "IDT was our team's first pick
-- the most valuable player in the competitive telecommunications industry.  We
believe the combination of IDT's world-class sales and marketing team with
InterExchange's extensive technology base will be unbeatable in the
marketplace."

     Richard Robbins, Chief Operating Officer of InterExchange says:  "This is a
great day for us.  Obviously with our superior technology we had our choice of
merger partners.  But in terms of our assessment of future growth prospects and
our team's confidence in management no other company even compares with IDT and
we're proud to now be an integral part of the company."

     IDT Corp. 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
including Net2Phone Direct and Net2Fax.


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     Except for historical information, all of the expectations and assumptions
contained in the foregoing are forward-looking statements involving risks and
uncertainties.  Important factors that could cause actual results to differ
materially from such forward-looking statements, include, but are not limited
to, the competitive environment for Internet telephony, changes of rates of all
related telco rates and services, legislation that may affect the Internet
Telephony industry, IDT's ability to operate the services described on a large
scale commercial level.  For additional information regarding these and other
risks associated with the Company's business refer to the Company's reports
filed with the SEC.

                                             Contact:

                                             Sarah Hofstetter
                                             Director, IDT Public Relations
                                             201-928-2882


                                             or


                                             Ilan Slasky

                                             IDT Investor Relations
                                             201-928-4316






