Independent Committee of Net2Phone Board of Directors Takes Neutral Position On IDT's Tender Offer

Net2Phone, Inc. (NASDAQ: NTOP) announced today that the
Independent Committee of Net2Phone's board of directors is expressing
no opinion and is remaining neutral with respect to IDT Corporation's
(NYSE: IDT) unsolicited tender offer for all of the outstanding shares
of Net2Phone's common stock that IDT Corporation and its affiliates do
not currently own for $2.00 per share in cash, net to the seller,
without interest. Consequently, stockholders should make their own
decisions on whether to tender their shares and accept the offer,
based on all of the available information, including the factors
considered by the Independent Committee. These factors are described
in Net2Phone's Solicitation/Recommendation Statement on Schedule
14d-9, which is being filed today with the Securities and Exchange
Commission and mailed to stockholders. The Independent Committee urges
each stockholder to read the factors considered by the Independent
Committee in Net2Phone's Solicitation/Recommendation Statement on
Schedule 14d-9 prior to making any decision regarding the offer.
Investors can obtain a free copy of the Solicitation/Recommendation
Statement on Schedule 14d-9 and any amendments thereto when they come
available and all other filings by Net2Phone with the Securities and
Exchange Commission at the Commission's website at www.sec.gov. In
addition, these materials may be obtained free of charge from
Net2Phone by directing a request to Net2Phone, Inc., 520 Broad Street,
Newark, NJ 07012, Attention: Investor Relations.

   About Net2Phone

   Net2Phone provides VoIP PacketCable, SIP and wireless solutions
around the world. As a leader in turn-key hosted VoIP telephony
services, Net2Phone has routed billions of VoIP minutes globally,
servicing more than 100,000 users in the US as well as hundreds of
thousands of more overseas. Net2Phone provides partners with a
SIP-based broadband telephony solution, calling cards, prefix dialing
and enterprise services in over 100 countries. Net2Phone's PacketCable
platform provides cable operators with the ability to deliver a high
quality primary line-type service with features such as emergency
calling. For more information about Net2Phone's products and services,
please visit www.net2phone.com.