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To: Frank A. Coluccio who wrote (660)	8/31/1999 2:45:00 PM
From: DWW II	Respond to of 803

Net2Phone, AT&T strike network deal By Jeffry Bartash, CBS MarketWatch Last Update: 2:10 PM ET Aug 31, 1999 NewsWatch Earnings Surprises BASKING RIDGE, NJ (CBS.MW) -- AT&T on Tuesday said it struck a five-year with Net2Phone that will expand the global reach of the Internet phone provider. Under the deal, AT&T (T: news, msgs) will provide Net2Phone space in 17 countries to the long-distance carrier's so-called gateways, allowing Net2Phone to provide service in those new territories. Another 12 countries could be added to the agreement eventually, the companies said. AT&T will also help manage Net2Phone's Internet-based network. The agreement is worth $100 million for AT&T. Net2Phone allows users to make long-distance calls over the Internet at far lower costs than wireless or regular phones. "By effectively utilizing AT&T's robust network and co-locating our IP telephony gateways at their points of presence, we can now offer better service and lower cost to our customers as well as expand our IP scope," said Mordy Rothberg, executive vice president of Net2Phone. The Net2Phone (NTOP: news, msgs) service can be accessed by computer, fax and even by phone. Founded in 1997, the company already has 250,000 customers and is one of the Internet sectors hottest stocks. In recent trading, shares jumped 5 7/8 to 78 1/2. The stock has nearly tripled since going public in late July. See Thom Calandra's StockWatch