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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: HVN who wrote (1284)	12/29/1998 10:21:00 AM
From: R. Bond	Respond to of 30916

News: (COMTEX) B: IDT Receives Telecom License in Germany; Leading Internat B: IDT Receives Telecom License in Germany; Leading International Carrier to Provide Telecom Services in World's Third Largest Telecom Market HACKENSACK, N.J. (Dec. 29) BUSINESS WIRE -Dec. 29, 1998--IDT Corporation (NASDAQ:IDTC) today announced that it has received licensing to provide switched voice service in Germany, the third largest telecom market in the world. The Company currently routes traffic through its US and UK hubs, and intends to increase international originating hubs with planned points of presence in Western Europe and the Pacific Rim. The license, effective immediately, allows IDT to offer a full range of telecom services to both wholesalers and retailers in Germany, including carrier services, direct dial, and pre-paid calling cards. The Company expects to begin operations in Germany within the next three months, which will help reduce the cost of termination and origination. The Company intends to allocate significant capital to build switching facilities and network infrastructure in this fast growing market. "Thanks to the rapid deregulation of the European telecom marketplace, we have been able to effectively capitalize on emerging markets and rapidly begin offering an assortment of telecom services in Germany. We hope to mirror our success in the US and UK," said IDT's President Jim Courter. IDT is a leading emerging multinational carrier that combines its position as an international telecommunications operator, its experience as an Internet service provider and its leading position in Internet telephony to provide a broad range of telecommunications services to its wholesale and retail customers worldwide. The company provides its customers with integrated and competitively priced international and domestic long distance, pre-paid calling cards, Internet access and, through its Net2Phone product offerings, Internet telephony services including Net2Phone Direct, Net2Fax, and Click2Talk. For more information about IDT's Internet telephony services, please visit www.net2phone.com. Except for historical information, all of the expectations and assumptions contained in the foregoing are forward-looking statements involving 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 competitive environment for Internet telephony, changes of rates of all related telco rates and services, legislation that may affect the Internet Telephony industry, IDT 's ability to operate the services described on a large scale commercial level. For additional information regarding these and other risks associated with the Company's business refer to the Company's reports filed with the SEC. -0- jl/ny* CONTACT: Sarah Hofstetter IDT Public Relations 201-928-2882 or Janine Kutliroff IDT Investor Relations 201-928-4391 KEYWORD: NEW JERSEY INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS TELECOMMUNICATIONS COMED Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com * end of story *