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<SEC-DOCUMENT>0001213900-09-001473.txt : 20090612
<SEC-HEADER>0001213900-09-001473.hdr.sgml : 20090612
<ACCEPTANCE-DATETIME>20090612161302
ACCESSION NUMBER:		0001213900-09-001473
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20090612
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090612
DATE AS OF CHANGE:		20090612

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IDT CORP
		CENTRAL INDEX KEY:			0001005731
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEPHONE COMMUNICATIONS (NO RADIO TELEPHONE) [4813]
		IRS NUMBER:				223415036
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16371
		FILM NUMBER:		09889980

	BUSINESS ADDRESS:	
		STREET 1:		520 BROAD ST
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102
		BUSINESS PHONE:		973 438 1000

	MAIL ADDRESS:	
		STREET 1:		520 BROAD STREET
		CITY:			NEWARK
		STATE:			NJ
		ZIP:			07102
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>f8k061209_idt.htm
<DESCRIPTION>CURRENT REPORT
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8-K</font></div>
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REPORT</font></div>
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of Report (Date of earliest event reported): June 12, 2009</font></div>
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CORPORATION</font></div>
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Applicable</font></div>
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appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):</font></div>
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              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font></div>
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            <td>
              <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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      <div id="FTR">
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      <div id="PN" style="PAGE-BREAK-AFTER: always">
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          <hr style="COLOR: black" noshade size="2">
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      <div id="HDR">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div>
      <table align="center" border="0" cellpadding="0" cellspacing="0" id="hangingindent" width="100%">
          <tr valign="top">
            <td style="WIDTH: 70px">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item&#160;7.01.</font></div>
            </td>
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              <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Regulation
      FD</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">On June 12, 2009, IDT Corporation (the
&#8220;Registrant&#8221;) posted the attached questions and answers to the investor
relations page of its website (</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; TEXT-DECORATION: underline">www.idt.net</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">). The questions were received from
interested parties in response to the Registrant&#8217;s request in its third quarter
2009 earnings webcast and earning release. A copy of the questions and answers
posting is furnished herewith as Exhibit 99.1 and is incorporated herein by
reference.</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
Registrant is furnishing the information contained in this Report, including
Exhibit 99.1, pursuant to Item 7.01 of Form 8-K promulgated by the Securities
and Exchange Commission (the &#8220;SEC&#8221;). This information shall not be deemed to be
&#8220;filed&#8221; with the SEC or incorporated by reference into any other filing with the
SEC. In addition, the questions and answers posting contain statements intended
as &#8220;forward-looking statements&#8221; that are subject to the cautionary statements
about forward-looking statements set forth in the question and answers
posting.</font></div>
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          <tr valign="top">
            <td style="WIDTH: 70px">
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item&#160;9.01.</font></div>
            </td>
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              <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Financial
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          <tr valign="top">
            <td style="WIDTH: 27pt">
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            <tr>
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              </td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Document</font></div>
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              <td align="left" valign="top" width="8%">
                <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.1</font></div>
              </td>
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      and Answers Posting, dated June 12,
2009.</font></div>
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            </tr>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURE</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 27pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <div align="left">
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              <table cellpadding="0" cellspacing="0" width="25%">
                  <tr>
                    <td valign="middle" width="18%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="middle" width="82%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  </tr>
                  <tr>
                    <td align="left" colspan="2" valign="top" width="100%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">IDT
      CORPORATION</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td valign="middle" width="18%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                    <td valign="middle" width="82%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;
      </font></td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="18%" style="PADDING-BOTTOM: 2px">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">By:</font></div>
                    </td>
                    <td align="left" valign="bottom" width="82%" style="BORDER-BOTTOM: black 2px solid">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">/s/
      James A. Courter</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="18%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Name:</font></div>
                    </td>
                    <td align="left" valign="bottom" width="82%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">James
      A. Courter</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="18%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Title:</font></div>
                    </td>
                    <td align="left" valign="bottom" width="82%">
                      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Chief
      Executive Officer</font></div>
                    </td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="18%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                    <td align="left" valign="bottom" width="82%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&#160;</font></td>
                  </tr>
                  <tr>
                    <td align="left" valign="top" width="18%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Dated:
      </font></td>
                    <td align="left" valign="bottom" width="82%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">June
      12, 2009</font></td>
                  </tr>
              </table>
            </div>
          </div>
        </div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EXHIBIT
INDEX</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">
      <div>
        <div align="left">
          <table cellpadding="0" cellspacing="0" width="100%">
              <tr>
                <td align="left" valign="bottom" width="8%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Exhibit&#160;No.</font></div>
                </td>
                <td align="left" valign="bottom" width="92%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-DECORATION: underline">Document</font></div>
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                  <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">99.1</font></div>
                </td>
                <td align="left" valign="top" width="92%">
                  <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">Questions
      and Answers Posting, dated June 12,
2009.</font></div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>f8k061209ex99_idt.htm
<DESCRIPTION>QUESTIONS AND ANSWERS POSTING
<TEXT>
<html>
  <head>
    <title>f8k061209ex99_idt.htm</title>
<!-- Licensed to: <TP> Electronic Filing Services Corp.-->
<!-- Document Created using EDGARizer 4.0.7.0 -->
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</head>
    <body bgcolor="#ffffff" style="DISPLAY: inline; FONT-SIZE: 10pt; MARGIN-LEFT: 7%; TEXT-INDENT: 0pt; MARGIN-RIGHT: 7%; FONT-FAMILY: Times New Roman">
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
99.1</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><img src="f8k061209ex99_idt0.jpg" alt=""></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">IDT
Corporation</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Third Quarter Fiscal 2009
Results - Questions and Answers</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During
its Q3 2009 earnings webcast and earnings release, IDT Corporation (NYSE: IDT;
IDT.C) solicited questions in writing from investors and other interested
persons in lieu of conducting a live question and answer session.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Questioners
were asked to e-mail questions to <font style="DISPLAY: inline; TEXT-DECORATION: underline">invest@corp.idt.net</font>
by the close of business on Tuesday, June 9<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">th</font>.&#160;&#160;We
said that in those instances where we could provide a constructive answer, we
would post the questions received along with the name of the questioner and the
questioner&#8217;s corporate affiliation &#8211; if any &#8211; and our answers on the IDT
Corporation&#8217;s website as early as the close of business on Friday, June 12<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: super">th</font>.&#160;&#160;This
document is also being filed with the SEC in a Form 8-K.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By
soliciting questions in writing rather than during a live Q&amp;A session, we
hoped to achieve several objectives including:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">1)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Increasing
      the quantity of questions.&#160;&#160;The number of questions posed by
      investors has been declining in recent quarters.&#160;&#160;For instance,
      during the Q2 2009 earnings call, no questions were
  asked.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" id="list" width="100%">
          <tr valign="top">
            <td align="right" style="WIDTH: 36pt">
              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">2)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Allowing
      investors more time to submit thoughtful questions.&#160;&#160;The written
      Q&amp;A format this quarter allowed investors time to read and digest the
      Company&#8217;s earnings release and management&#8217;s remarks before submitting
      questions.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div>
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              <div><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">3)&#160;&#160;</font></div>
            </td>
            <td>
              <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Improving
      the quality of our responses.&#160;&#160;The written Q&amp;A format being
      introduced this quarter allows us additional time to prepare comprehensive
      answers to questions and to draw, when needed, from additional resources
      inside and outside the company that might not have been available during a
      live Q&amp;A session.</font></div>
            </td>
          </tr>
      </table>
    </div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Thank you
for your continued interest in IDT Corporation.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">In
this question and answer document, all statements made by us that are not purely
about historical facts, including, but not limited to, those in which we use the
words &#8220;believe,&#8221; &#8220;anticipate,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;intend,&#8221; &#8220;estimate, &#8220;target&#8221;
and similar expressions, are forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995.&#160;&#160;While these
forward-looking statements represent our current judgment of what may happen in
the future, actual results may differ materially from the results expressed or
implied by these statements due to numerous important factors, including, but
not limited to, those described in our most recent report on SEC Form 10-K
(under the headings &#8220;Risk Factors&#8221; and &#8220;Management&#8217;s Discussion and Analysis of
Financial Condition and Results of Operations&#8221;), which may be revised or
supplemented in subsequent reports on SEC Forms 10-Q and 8-K.&#160;&#160;These
factors include, but are not limited to, the following: potential declines in
prices for our products and services; our ability to maintain and grow our
retail telecommunications services, particularly our prepaid calling card
business; availability of termination capacity; financial stability of our
customers; our ability to maintain carrier agreements with foreign carriers;
effectiveness of our marketing and distribution efforts; increased competition,
particularly from regional bell operating companies; our ability to manage our
growth; impact of government regulation; our ability to obtain
telecommunications products or services required for our products and services;
and general economic conditions, particularly in the telecommunications
markets.&#160;&#160;We are under no obligation, and expressly disclaim any
obligation, to update the forward-looking statements in this press release,
whether as a result of new information, future events or otherwise.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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        </div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Mark
Holt</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Q:
Has there been any consideration given to spinning off AMSO and IDT ENERGY into
a stand alone company -- if so,what is the potential time frame of such a spin
off?</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A:&#160;&#160;As
IDT&#8217;s CEO Jim Courter mentioned in his remarks on the webcast, we are
considering various transactions and other strategic options to increase
shareholder value.&#160; The Board&#8217;s recent decision to spin-off of CTM Media
Holdings is one example of our strategic efforts designed to create value while
simplifying IDT&#8217;s structure and streamlining its operations.&#160; Management
and the Board will continue to evaluate available options, taking into
consideration, among other factors, the capital and cash-flow needs of the
businesses, potential operational synergies, and their estimated values on a
consolidated or separated basis.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Karim Armand, Colbert
Investment Management</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Q1:
Total will provide&#160;a majority of the RD&amp;D funding for AMSO. Could you
please&#160;clarify what majority means:&#160;51%, 75% or&#160;95%?</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A1:&#160;&#160;Our
agreement with Total precludes us from disclosing the details of their financial
commitment, but we can tell you that during the course of the project the level
of funding provided by Total falls from its current level to 50%&#160;as the
project progresses.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Q2:
From the AMSO website regarding the Lease, I suppose 720B barrels
potential&#160;refers to Uinta Basin, with additional 4960 acres = 10B barrels
potential. However the current Lease is&#160;160 acres = 323MM barrels roughly
(estimates, potential, etc.)?</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A2:&#160;&#160;AMSO&#8217;s
leasehold is located within the Piceance Basin on Colorado&#8217;s Western
Slope.&#160; The USGS recently increased the estimated in-place reserves in the
Basin to 1.525 trillion barrels.&#160; AMSO&#8217;s 160-acre RD&amp;D site is for
process development and demonstration, not commercial production.&#160; AMSO&#8217;s
5,120-acre commercial preference lease tract, which includes the RD&amp;D site,
contains approximately 2.0 to 2.5 million barrels per acre of in-place reserves,
based on our assays of core samples.&#160; However, only part of the in-place
reserves can be extracted given current technologies.&#160;&#160;Moreover, our
initial plan restricts production to the illite layer below the aquifers, in
order to protect the water above.&#160;&#160;This limits the estimated
recoverable reserves to approximately 200,000 barrels per acre totaling about 1
billion barrels in potentially extractable reserves within the commercial
preference lease tract.&#160;&#160;As technologies are developed to facilitate
environmentally sound extraction processes from additional areas of the shale
formation, we eventually expect to pursue the remaining reserves within our
commercial lease. The recovery technology demonstration, environmental and
regulatory framework, and production costs all have significant uncertainties
that could prevent commercial development. Commercial production is, we think, a
minimum of five to seven years away.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Q3:&#160;&#160;Also,
the&#160;Plan to extract 25 gallon/ton means that 10B barrels would be extracted
from 17B tons roughly (10B bls&#160;x 42 gals/25 gals). Is that correct? (I am
trying to get a figure for the Lease potential (s) in tons vs gallons or
barrels.)</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A3:&#160;
The 10 billion barrels is nominally correct for the total in-place resource of
the 5,120-acre commercial lease, but it does not represent what can be recovered
economically.&#160; The average Fischer Assay grade of the oil shale is about 25
gal/ton, but recovery efficiency will reduce that to perhaps 14 gal/ton.&#160;
Consequently, about 3 tons of shale will be processed to produce a barrel of
oil.&#160; In our initial plan, we will avoid the shale above the aquifers by
targeting the illite layer.&#160;&#160;As we said in our answer to your previous
question, the total recovery from the initially targeted resource is estimated
to be about 1 billion barrels.&#160; As technologies are developed to facilitate
environmentally sound extraction processes from additional areas of the shale
formation, we expect to pursue the remaining reserves within our commercial
lease.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Q4:&#160;&#160;&#160;What
kind of run rate OCF or EBITDA should one be thinking of?</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A4:&#160;&#160;We
do not provide earnings guidance.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">During Q3
2009, net cash used in operating activities (or operational cash flow (OCF)) for
the quarter was negative ($3.9) million. However, this includes the $25.0
million IDT paid to the IRS during the quarter.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Regarding
EBITDA, during Q3, we reported Adjusted EBITDA (as defined in the earnings
release and the accompanying schedule reconciling Adjusted EBITDA to the
corresponding GAAP measure loss from operations) of $14.7 million.&#160;&#160;We
also said that we expected gross margins for IDT Energy to return to the 10% to
15% range at some point, compared to the 29.7% during Q3 2009.&#160;&#160;We
also noted that company wide Adjusted EBITDA growth would likely be constrained
by this expected decline in IDT Energy&#8217;s gross margin, and may be impacted by
further pricing and volume demand pressures at IDT Telecom.&#160;&#160;These
factors would likely constrain OCF improvement in the coming quarters as
well.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Bryan Suchanyc, Cross
Management Corporation</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Q1:&#160;&#160;Can
you provide further detail on cash flow from operations&#160;breaking out the
payment to the IRS and any one time items such as money received from sales of
any assets so we can get a clear picture of true cash flow from the operating
business.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A1:&#160;&#160;During
the nine months ended April 30, 2009, our net cash used in operating activities
was negative ($96.7) million.&#160;&#160;Included in that total were payments to
the IRS of $95.0 million.&#160;&#160;As for cash flow from financing and
investing activities, we refer you to the Statement of Cash Flows and associated
notes contained in our latest Form 10-Q, as well as the Management&#8217;s Discussion
and Analysis of Financial Condition and Results of Operations in that filing.
Our Form 10-Q is available through the investor relations portion of our
website, <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.idt.net</font></font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Q2:&#160;&#160;Can
you make a conservative estimate of what you expect cash flow to be over the
next 2 quarters based on operations, excluding any gains from asset sales or one
time payments to IRS or other legal settlements.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A2:&#160;&#160;Please
see our response to Karim Armand&#8217;s similar question (Q4) above.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Q3:&#160;&#160;Can
you make any further comments to the $40,000,000 IDT owes T-Mobile?</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A3:&#160;&#160;Updates
on all litigation, including this matter, are provided in the Form 10-Q for Q3
2009 which we filed on June 9, 2009 with the SEC.&#160;&#160;The filing is
available through the investor relations portion of our website, <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.idt.net</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">With
respect to <font style="DISPLAY: inline; FONT-STYLE: italic">T-Mobile</font>, we
cannot yet supplement the relevant passage from our Form 10-Q for Q3
2009:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;On May
18, 2009, a subsidiary of the Company was served with notice of a complaint
(which was subsequently amended) filed on May 15, 2009 by T-Mobile USA, Inc.
(&#8220;T-Mobile&#8221;) against IDT Domestic Telecom, Inc. (&#8220;Domestic Telecom&#8221;), in the
Superior Court of the State of Washington, King County. The complaint alleges
that Domestic Telecom breached a Wholesale Supply Agreement entered into between
T-Mobile and Domestic Telecom in February 2005, as amended, by failing to
purchase at least $75 million in services from T-Mobile (T-Mobile claims that
Domestic Telecom purchased only approximately $31 million of services). T-Mobile
is seeking monetary damages, including interest and costs, in an amount to be
determined at trial. The Company believes that it has valid defenses to
T-Mobile&#8217;s allegations and intends to conduct a vigorous legal defense. This
matter is in its early stages and therefore the Company is unable to form an
estimate of any potential liabilities to the Company related to this
matter.&#8221;</font></div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Q4:&#160;&#160;Can
you give an update on any of the other pending lawsuits?</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A4:&#160;&#160;Please
see our answer to your Q3 immediately above.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Tim
McCollum</font></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Q1:&#160;
Last June, Chairman Jonas stated "we believe that we own real time
communications in the internet."&#160; Since then, despite significant growth in
VOIP telephony, we have heard virtually nothing about revenues from this source,
and nothing about prospects for future growth.&#160; What&#160;revenues are we
producing from real time internet communications and what are the growth
prospects?&#160;</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A1:&#160;&#160;Mr.
Jonas was referring to certain patents owned by our Net2Phone subsidiary that
are the subject of ongoing litigation with Skype.&#160;&#160;The litigation is
continuing and any appropriate disclosure is contained in the legal proceedings
section of our quarterly report on Form 10-Q for the third quarter of fiscal
2009, which we filed with the S.E.C. on June 9, 2009, and which is available
through the investor relations portion of our website, <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.idt.net</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Net2Phone,
which has been integrated operationally with IDT Telecom, operates in the VoIP
telephony space, and we utilize VoIP technology for many of our core telecom
offerings.&#160;&#160;More specifically, our cable telephony business is based
on a VoIP solution.&#160;&#160;As we have disclosed, our telecom operations
remain subject to intense competition and pricing pressure, as well as being
negatively impacted by recent declines in both business and consumer spending
and demand.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left">&#160;</div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-STYLE: italic; FONT-FAMILY: Times New Roman">Q2:&#160;
What is the status of the Tyco lawsuit?</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt; TEXT-ALIGN: justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A2:&#160;&#160;Updates
on all litigation, including this case, are provided in the Form 10-Q for Q3
2009 which we filed with the SEC on June 9, 2009.&#160;&#160;The filing is
available through the investor relations portion of our website, <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.idt.net</font>.</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">With
respect to <font style="DISPLAY: inline; FONT-STYLE: italic">Tyco</font>, here
is the relevant passage from our Form 10-Q for Q3 2009:</font></div>
    <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
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    <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br>&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt; TEXT-ALIGN: justify" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#8220;On
May&#160;5, 2004, the Company filed a complaint in the Supreme Court of the
State of New York, County of New York, seeking injunctive relief and damages
against Tyco Group, S.A.R.L., Tyco Telecommunications (US)&#160;Inc. (f/k/a
TyCom (US) Inc.), Tyco International, Ltd., Tyco International (US) Inc., and
TyCom Ltd. The Company alleged that the defendants breached a settlement
agreement that they had entered into with the Company to resolve certain
disputes and civil actions among the parties. The Company alleged that the
defendants did not provide the Company, as required under the settlement
agreement, free of charge and for the Company&#8217;s exclusive use, a 15-year
indefeasible right to use four Wavelengths in Ring Configuration (as defined in
the settlement agreement) (&#8220;Wavelengths&#8221;) on a global undersea fiber optic
network that TyCom Ltd. was deploying at that time. In June 2004, Tyco
International (US) Inc. and Tyco Telecommunications (US) Inc. asserted several
counterclaims against the Company, alleging that the Company breached the
settlement agreement and is liable for damages for allegedly refusing to accept
the defendants&#8217; offer regarding the Wavelengths referenced in the settlement
agreement and for making a public statement that Tyco failed to provide the
Company with the use of its Wavelengths. The parties completed pre-trial
discovery and each party filed motions for summary judgment. On July&#160;11,
2007, the Court granted the Company&#8217;s motion for partial summary judgment on
liability, and granted its motion for summary judgment on Tyco&#8217;s counterclaims.
On November&#160;21, 2007, Tyco filed a notice of appeal of the order granting
the Company&#8217;s motion for summary judgment on liability. On January&#160;24,
2008, the Appellate Court granted a motion made by Tyco and stayed proceedings
in the trial court until the appeal is decided. On August&#160;19, 2008, the
Appellate Division issued a decision and order reversing the trial court&#8217;s grant
of partial summary judgment on the issue of liability to the Company and granted
the portion of defendants&#8217; cross motion seeking summary judgment dismissing the
complaint and remanded the matter to the Supreme Court for further proceedings.
On September&#160;18, 2008, the Company filed its request for reargument, or in
the alternative, for leave to appeal to the Court of Appeals. On
December&#160;30, 2008, the Appellate Division granted the Company&#8217;s request for
leave to appeal to the Court of Appeals. On May 18, 2009, the parties submitted
the briefs on that appeal and oral argument is scheduled for September 15,
2009.&#8221;</font></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
