IDT Corporation’s (NYSE: IDT, IDT.C) Chairman and CEO, Howard Jonas, and the Chief Technology Officer of the Company’s American Shale Oil, LLC joint venture subsidiary, Dr. Alan Burnham, will ring the opening bell at the New York Stock Exchange (NYSE) on Monday, June 28, 2010 at 9:30 AM.

“After executing a successful turn-around, IDT has regained compliance with the New York Stock Exchange’s continued listing requirements and achieved bottom line profitability,” said Howard Jonas. “Looking ahead, I am very optimistic about growth opportunities in our core telecom and energy businesses, including our alternative energy ventures.”

IDT, which posted a net loss of $155.4 million in fiscal 2009, has generated $12.8 million in net income through the first nine months of its 2010 fiscal year while generating $47.5 million in net cash from operating activities.

For the ringing of the opening bell, Mr. Jonas and Dr. Burnham will be joined by several other noted scientists and executives involved in the Company’s oil shale initiative in Colorado.

American Shale Oil, LLC (AMSO) is a joint venture between IDT and Total, S.A., and is one of three companies holding leases granted by the federal Bureau of Land Management to research, develop and demonstrate in-situ shale oil extraction processes on federal lands in Western Colorado.

Legendary Wall Street investor Michael Steinhardt, who recently invested in IDT’s Genie Energy division, said, “The world’s unconventional fuel resources – including oil shale - will become an increasingly important source of global energy supply, and will create enormous opportunities within the global energy market.”

A live webcast of The Opening Bell (beginning at 9:29 am ET) will be available on the NYSE homepage of  http://www.nyse.com. IDT will also be highlighted on the NYSE website on June 28, 2010.

About IDT Corporation:

IDT Corporation ( www.idt.net ) is a consumer services company with operations primarily in the telecommunications and energy industries. 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.

About AMSO:

American Shale Oil, LLC (AMSO), ( www.amso.net) is a joint venture between IDT and Total, S.A., and is one of three companies holding leases granted by the federal Bureau of Land Management to research, develop and demonstrate in-situ shale oil extraction processes on federal lands in Western Colorado.

AMSO’s mission is to develop its proprietary technology into a commercially viable and environmentally sound method of producing commercial quantities of shale oil by using in-situ extraction processes.

Copyright Business Wire 2010