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Global Leader in Mobile Content 'Sets Site' on US Market : Zedge.net reaches record milestone with more than 500,000,000 downloads

NEWARK, N.J. (Business Wire EON) July 1, 2008 -- Zedge (www.Zedge.net) has become the first mobile social community to surpass the formidable half billion download mark by its members, a coveted milestone declared this month.

Its 10.4 million registered members have now collectively downloaded more than half a billion lifestyle and entertainment pieces of content for the customization of their mobile phones. As the market leader in 216 countries, the site also showcases the highest monthly number of page views in the business, tallying over 330,000,000 on both Web and mobile devices.

Founded in 2003 by Norwegian visionary, Tom Arnoy, Zedge has pioneered the birth of an industry: the fusion of online and mobile communities seeking lifestyle enhancing content that impacts their personal expression and daily experience.

"What YouTube is to Video, and Google is to Search, Zedge is to Mobile Content," noted Arnoy. "Frankly, I think you're going to see us hit the billion download mark in the very near future," he added.

Among one of the fastest growing websites on the Internet, Zedge has grown by over 6.5 million members during the past year alone. Ranked #395 out of all websites worldwide (reference Amazon's Alexa.org), it has established vibrant communities in countries ranging from the United States to the UK, Mexico to Malaysia, and India to China.

Its core membership spans in age from 16 to 25 and has experienced a robust influx of young male and female users between the ages of 16 and 19.

"We've been the best kept secret in the States so far, and now with our strategic alliances, targeted user outreach and, most importantly, the continued positive word-of-mouth, we see Zedge becoming the household brand name in America's rapidly growing mobile community," commented Morris Berger, Zedge Chairman and Chief Executive Officer.

Zedge offers the highest quantity of mobile entertainment media of its kind, housing more than 1.5 million pieces of user generated content. Downloadable features include ringtones, videos, images, wallpaper, themes, and games. Members are further provided the opportunity to establish their own personal profiles and to interact through a sophisticated social networking environment.

The Zedge social mobile community has been built exclusively via organic, self-generated content uploaded and shared by its members. The site's popularity has now led to demands from corporations, prominent music artists and athletes to present original complimentary content to the Zedge community.

"From Day 1 we have recognized that mobile and online users most value access to premier quality content that can be incorporated into their daily lives. But the killer application is to empower them with no strings or fees attached. 'Free Your Phone' is what we're all about at Zedge," stated Berger.

About Zedge:

Zedge was founded in 2003 in Norway and acquired by IDT Corporation in December 2006. With more than ten million members around the world, Zedge continues to grow exponentially, averaging 20,000 new members daily, a content library of more than 1.5 million items, and users in 216 countries downloading, creating and uploading a variety of mobile entertainment content, including ringtones, videos, wallpapers, games and themes.

About IDT Corporation:

IDT Corporation (NYSE: IDT, IDT.C) is an innovative and opportunity seeking multinational holding company with operations that span several industries.

In this press release, all statements that are not purely about historical facts, including, but not limited to, those with the words "believe," "anticipate," "expect," "plan," "intend," "estimate," "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements and risk factors included in this document are made as of the date hereof, based on information available to IDT as of the date thereof, and IDT assumes no obligation to update any forward-looking statements or risk factors.

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