"As the more than $19 billion raised by the FCC at its recent 700 MHz spectrum auction clearly demonstrates, we are increasingly living in a ‘wireless world’ and IDT Spectrum is well-positioned to unlock the potential of wireless broadband through our high frequency Spectrum licenses. We have the ability to provide the bandwidth which is necessary to successfully deploy these technologies,” said Jim Courter, IDT's Vice Chairman and CEO.

With more than 1,250 licenses in its inventory, IDT Spectrum is the largest holder of commercial high frequency exclusively licensed fixed wireless spectrum in the United States, both in terms of nationwide coverage and total bandwidth. On average, the Company holds more than 500 MHz of spectrum in the top 200 U.S. markets and approximately 940 MHz of spectrum in the top 50 U.S. markets. IDT Spectrum’s licenses—both its 39 GHz and LMDS (28-31 GHz) holdings—are contiguous across the whole United States (including Alaska, Hawaii and Puerto Rico), giving the Company the competitive advantage of being able to serve customers nationwide. The licenses held by IDT Spectrum are suited for high bandwidth point to point applications, including the needs of wireless operators to carry traffic from cell sites to network access points—referred to in the industry as backhaul.

Michael Rapaport, IDT Spectrum’s President, added, “IDT has a proud history of leveraging advanced technologies to deliver high quality services at reduced prices. IDT Spectrum looks forward to offering a high quality, cost-effective solution to the backhaul bottleneck issue as wireless carriers deploy more 3G and 4G services. To that point, we now offer a fixed wireless solution that can offer nationwide, regional or local spectrum leases either in large frequency blocks or point-to-point links. IDT Spectrum is pleased to launch our new online leasing program to serve backhaul and other customer needs, which will enable our rapid time-to-market approach to get even faster.”

About IDT Corporation:

IDT Corporation is an innovative and opportunity seeking multinational holding company with operations that span various industries. Through its Telecom subsidiary, IDT provides telecommunications services worldwide to the retail and wholesale markets. IDT Energy operates an Energy Services Company (ESCO) in New York State. IDT subsidiary American Shale Oil Corporation (AMSO) manages IDT’s oil shale ventures. IDT's Capital division incubates newer businesses, and the Company's Spectrum subsidiary holds its spectrum license assets. IDT Telecom provides retail and wholesale telecommunications services and products, including pre-paid and rechargeable calling cards, consumer local, long distance, and wireless phone services, and wholesale carrier services. Under the Net2Phone brand name, the Company also provides a range of voice over Internet protocol (VoIP) communications services. IDT Capital's operations include receivables portfolio management and collection, ethnic food distribution, brochure distribution, Internet Mobile Group, Net2Phone Ventures and other initiatives. IDT Corporation's Class B Common Stock and Common Stock trade on the New York Stock Exchange under the ticker symbols IDT and IDT.C, respectively.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those with 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. All forward-looking statements and risk factors included in this document are made as of the date hereof, based on information available to IDT as of the date thereof, and IDT assumes no obligation to update any forward-looking statements or risk factors.