Howard Jonas’ successor as CEO of IDT, Shmuel Jonas, has served as IDT’s COO since June 2010. In that capacity, he has been actively involved in the management of the Company’s day-to-day operations. Shmuel Jonas joined the Company in June 2008 and has served as the Company’s Vice President of Operations where he helped to plan and implement the Company’s turn-around. His cost cutting initiatives and conservative approach to investment in growth opportunities have been key drivers to the Company’s improved bottom line performance and the renewed strength of its balance sheet.“I am very pleased with IDT’s performance to date and our prospects going forward,” said Shmuel Jonas. “I am excited and nervous, but am very much looking forward to taking on this new and challenging role. Strategically, we will continue investing appropriately in the long term growth of our core telecom and payments businesses. We will also continue helping Zedge and Fabrix unlock their huge potential value. Consistent with this approach, we intend to generate current and long-term value for our stockholders through improved profitability, quarterly dividends, spin-offs and other monetization events. I am taking on this new and challenging role under the Board’s and my father’s continued guidance and am supported by an outstanding management team.” 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 to conveniently and inexpensively communicate and share resources around the world. IDT Telecom’s wholesale business is a leading global carrier of international long distance voice calls. IDT also holds majority interests in two early-stage technology companies focused on high growth industries: Zedge ( www.zedge.net), a mobile content discovery and acquisition platform, includes one of the most popular Apps for Android and iOS; Fabrix Systems ( www.fabrixsystems.com), a cloud based scale out storage and computing platform, provides a scalable solution optimized for media and big data processing and delivery. For more information, visit www.idt.net.