IDT Bids for WorldCom

NEWARK, N.J. -- IDT Corporation (NYSE: IDT.B, IDT), a leading multinational carrier and telephone company, today announced it was making offers for two units of WorldCom, Inc. If consummated, the acquisition would further enhance IDT's position as a global leader in telecommunications; help preserve the integrity and stability of the national economy and insure that MCI/WorldCom customers have continued and uninterrupted high quality telecommunications service. IDT has forwarded to John Sidgmore, Chief Executive Officer of WorldCom, Inc., a proposal to acquire WorldCom's MFS and Brooks Fiber units and its MCI consumer and small business long distance units for present and future consideration estimated to be $5-billion combined. The proposal is contingent upon a definitive agreement being executed by the parties. In making the offer, IDT indicated that it may include other financial and /or telecommunications parties as partners. IDT believes that prompt consideration to its proposal by WorldCom would help prevent further loss of customers and deterioration in value of both of these business units. IDT Corp. WorldCom Inc.