To: Frank A. Coluccio who wrote (2845 ) 9/29/1999 8:18:00 AM From: Frank A. Coluccio Respond to of 3178
ITXC Announces Initial Public Offering September 29, 1999 PRINCETON, N.J.--(BUSINESS WIRE) via NewsEdge Corporation -- ITXC Corp. (Nasdaq:ITXC) today commenced an initial public offering of 6,250,000 shares of Common Stock at a price of $12.00 per share through underwriters led by Lehman Brothers, Inc., CIBC World Markets and First Analysis Securities Corporation. All of the shares are being offered by the Company. The Company has granted the underwriters an option to purchase an aggregate of up to 937,500 additional shares of Common Stock to cover any over-allotments. The Company's stock will be quoted on the Nasdaq National Market under the symbol "ITXC". ITXC Corp. is a leading global provider of high quality Internet-based voice and fax services. It has developed and deployed ITXC.net, an actively-managed network overlayed on the Internet. Its WWeXchange(sm) service provides international carriers, ISPs and Internet telephony service providers with international call completion over the Internet and enables them to offer their own customers phone-to-phone global voice services. Key carrier affiliates include China Telecom, Bell Atlantic and Korea Telecom, among others. A copy of the prospectus relating to the offering may be obtained form Lehman Brothers, Inc., c/o Automatic Data Processing, Prospectus Fulfillment, 55 Mercedes Way, Edgewood, NY 11717, telephone number 516/254-7106, facsimile number 516/254-7268. Except for historical information, all of the expectations, projections and assumptions contained in the foregoing press release constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties. Important factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, the considerations described as "Risk Factors" in the Company's filings with the SEC. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction. <<Business Wire, 09-28-99, 08:21 Eastern>> CONTACT: ITXC Corp. | Edward B. Jordan, 609/419-1500 | ejordan@itxc.com | www.itxc.com