NEWARK, N.J. -- IDT Corporation (NYSE: IDT.B; NYSE: IDT), a leading multinational carrier and telephone company announced today that it's IDT Telecom subsidiary has acquired certain Indefeasible Rights of Use (IRUs) and equipment from the estate of Star Telecommunications, Inc. IDT completed the acquisition after the United States Bankruptcy Court in Wilmington, Delaware selected IDT as the winning bidder and entered an Order authorizing the purchase. The assets acquired represent long-term capacity on US nationwide fiber networks operated by Qwest and Broadwing. The original IRU's were purchased by Star Telecommunications in 1998 for approximately $68 million. "We got this fiber network at a great price and just in the nick of time. At the rate we're growing, we need to get our hands on as much bandwidth as we can," said Howard Jonas, IDT's Chairman. "With all of the well publicized woes being experienced by so many other telecom companies, new customers have been flocking to IDT's Winstar and Telecom businesses. Additionally, the new capacity will allow IDT to expand its enterprise and pre-paid phone card businesses into many new US markets." Under the terms of the deal, IDT paid cash for the right of use of the capacity on the network for the remainder of the term (most are in excess of 16 years), operations and maintenance and certain equipment. IDT expects to recoup the cost of this acquisition in under a year solely on the basis of costs avoided, representing the money saved by moving traffic onto its own network in lieu of leasing network capacity from other carriers. IDT Corp.