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IDT Opens Door to Direct U.S.-Cuba Telephony

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IDT Corporation (NYSE:IDT) , a leading provider of international telephony and payment services and the largest U.S. based carrier of international long distance calls, said today that it has reached an agreement with Empresa de Telecomunicaciones de Cuba S.A. (ETECSA), Cuba’s national telecom provider, to exchange international long distance voice traffic between the United States and Cuba directly.

The agreement was filed today with the Federal Communications Commission (FCC) and is subject to FCC review for a period of ten days.

If the FCC allows the agreement to take effect as expected, IDT will be the only U.S. carrier to have a direct interconnection into Cuba.

“We are very pleased to have reached this groundbreaking agreement with ETECSA. This is an important first step in the liberalization of telecommunications between the U.S. and Cuba,” said Bill Pereira, Chief Executive Officer of IDT Telecom. “Ultimately, the agreement will help make it easier and more affordable for our customers to call friends and family in Cuba.”

The announcement follows on the heels of revisions to the Cuban Assets Control Regulations announced by the U.S. government earlier this month.

About IDT Corporation:

IDT Corporation (NYSE:IDT) , through its IDT Telecom division, provides retail telecommunications and payment services to help immigrants and the under-banked conveniently and inexpensively communicate and share resources around the world. IDT’s wholesale business is a leading global carrier of international long distance calls. IDT also holds a majority interest in Zedge (www.zedge.net), developer of the popular, eponymous app for a mobile content discovery and acquisition. For more information on IDT, visit www.idt.net.

Caution Concerning Forward Looking Statements:

All statements above that are not purely about historical facts, including, but not limited to, those in which we use 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. 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. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, IDT assumes no obligation to update any forward-looking statements.

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