Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : IDTI - an IC Play on Growth Markets -- Ignore unavailable to you. Want to Upgrade?

To: kane who wrote (10060)	2/1/1999 9:11:00 PM
From: Terry D.	Read Replies (2) \| Respond to of 11555

Monday February 1, 8:29 pm Eastern Time Company Press Release IDT and Digitec 2000 Sign Agreement Companies resolve outstanding issues and announce service agreement HACKENSACK, N.J.--(BUSINESS WIRE)--Feb. 1, 1999--IDT Corporation (NASDAQ: IDTC - news) and Digitec 2000 (OTC BB: DGTT) today announced that they have amicably resolved all outstanding claims against each other and have entered into an agreement to conduct business on an ongoing basis. Under the terms of their agreement, all claims have been dismissed. IDT will initiate business with Digitec, which will be purchasing debit card services from IDT at preferential rates. Both companies expect this to increase revenues and profits. ''We are pleased that we have seized an opportunity for us to both increase our revenues while providing Digitec with favorable rates and terms for our products and services,'' said Joshua Winkler, IDT's Executive Vice President of Sales. ''We look forward to a prosperous and long-term relationship with Digitec.'' ''We are pleased to be doing business with IDT, and look forward to building a strong relationship with them,'' said Diego Roca, Chief Operating Officer of Digitec 2000. ''We believe this to be a win-win situation for both companies and envision strong synergies between us.'' 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 products and services, please visit www.idt.net. Digitec 2000, Inc. is a leading provider of prepaid telecommunications products and services. The company develops corporate and affinity prepaid phone card programs as well as utility cards for retail distribution. The company's DigiTEC Direct, Brasil Direct, Mexico Direct and F/X South America are among the most prominent brands in the retail market. 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. Contact: IDT Public Relations, Hackensack Sarah Hofstetter, 201/928-2882 sarah@net2phone.com or IDT Investor Relations, Hackensack Janine Kutliroff, 201/928-4391 janinek@hq.idt.net