Zedge Studios and Overture Films Strike Deal to Promote Mad Money on www.zedge.net

Business Wire, Jan 15, 2008

Forums, Chat Events, Free Content, Contest and Trailers Part Of Expansive Arrangement

NEWARK, N.J. & LOS ANGELES -- Zedge Studios, a division of IDT Internet Mobile Group (IIMG), announced today that it has signed a deal to promote Overture Films' upcoming feature film Mad Money, which stars Diane Keaton, Queen Latifah, Katie Holmes and Ted Danson, on www.zedge.net, one of the world's most popular destinations for complimentary content for mobile device users. Zedge.net, with users in 216 countries worldwide, will be part of the international rollout of the film as well. The site recently topped seven million registered subscribers, averages over 10,000 new daily registrations and boasts over 700,000 pieces of free mobile-related available content.

Mad Money, produced and distributed by Overture Films, opens nationwide on January 18th. The comedy is directed by Academy Award[R] winner Callie Khouri (screenwriter of Thelma and Louise and director of The Divine Secrets of the Ya-Ya Sisterhood) from a script by Glenn Gers (Fracture). Keaton, Latifah and Holmes star as three ordinary women who form an unlikely friendship and decide to do something extraordinary--rob one of the most secure banks in the world.

The scope of this promotional deal includes exclusive, free mobile content based on the film, including ringtones, video and wallpapers only available on Zedge. In addition, users can participate in Mad Money movie forums, watch trailers, and participate in the "What Would You Do With Mad Money?" video contest. To enter the contest, users upload a 30 second video saying what they would do with Mad Money. Judged by a panel including Mad Money co-star Adam Rothenberg, winning contestants will get a $1000 cash prize, a free year of STARZ! premium cable service or a Mad Money DVD.

"This is an important deal in the recognition of Zedge.net as a mobile content industry leader," said Moshe Berger, IIMG CEO and head of Zedge Studios. "Giving Zedgers desirable content by aligning ourselves with leading entertainment partners like Overture Films is a key component of our growth strategy."

"We're delighted to partner with Zedge on this promotion," said Chris McGurk, CEO of Overture Films. "We know its wide user base will respond positively to our film, which is pure fun."

ABOUT IDT INTERNET MOBILE GROUP (IIMG) AND ZEDGE STUDIOS:

IIMG develops and licenses original content for distribution through traditional, online and mobile platforms. Its holdings include IDW Publishing, which forms the core of its Zedge Studios operation, as well as Norway-based www.zedge.net, one of the world's most popular user-generated mobile content and social networking communities. IIMG is a division of IDT Corporation (NYSE: IDT, IDT.C), a multinational company with operations that span various industries.

ABOUT OVERTURE FILMS:

Overture Films develops, produces, acquires, and distributes feature-length, theatrical motion pictures worldwide. The studio is an operating unit of Starz, LLC, which in turn is a wholly owned subsidiary of Liberty Media Corporation that is attributed to Liberty Capital Corp. Its affiliated companies, Anchor Bay Entertainment and Starz Entertainment, make the films available domestically to viewers via home video, premium television, Internet and other outlets.

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.