IDT Entertainment Licenses Animation Rights to Hellboy from Revolution Studios; Key Creatives from Live Action Film on Board for Animated Adventures to Be Produced at IDT Entertainment Studios in Los Angeles.

NEWARK, N.J. -- IDT Entertainment announced today that it has licensed all animation rights to the Hellboy property from Revolution Studios. IDT Entertainment, in partnership with Revolution Studios, plans to develop animated content for television and home entertainment as well as a full range of integrated marketing applications across all categories. Production will utilize IDT Entertainment's animation studios in Los Angeles. IDT Entertainment Sales will handle worldwide sales and Anchor Bay Entertainment, an IDT Entertainment company, will distribute DVD/video product. IDT Entertainment is a subsidiary of IDT Corporation (NYSE: IDT, IDT.C), an international telecom, entertainment, and technology company.

"Hellboy is a seminal figure in the comic book world and a proven winner in the feature film arena," said Morris Berger, IDT Entertainment CEO. "This deal adds to the luster of our ever-growing library of intellectual properties with worldwide fan appeal. We believe Hellboy's animated incarnation will benefit from our international sales, marketing, and distribution network."

All key creative talent and production entities associated with Hellboy, the successful 2004 live action feature film, will be involved in the continuing animated adventures of the Hellboy character. Ron Perlman (Hellboy) and Selma Blair (Liz Sherman), who headlined the feature film, will lead the voice cast for the animated versions. Hellboy creator Mike Mignola and director Guillermo Del Toro (Hellboy, The Devil's Backbone) are creative producers and will be intimately involved in story development and animation style. Tad Stones, who has produced and directed successful full length video features and animated television series (Disney's Atlantis: Milo's Return, Buzz Lightyear of Star Command: The Adventure Begins, Disney's Aladdin and the King of Thieves), will be supervising director and supervising producer for IDT Entertainment. Lawrence Gordon and Lloyd Levin of Lawrence Gordon Productions and Mike Richardson of Dark Horse Comics, who produced the 2004 live action feature, will executive produce.

According to Revolution Studios' Daniel Ferleger, "We are excited to be working with IDT Entertainment and look forward to a successful collaboration to bring the Hellboy character to an even wider audience."

Hellboy is based on the comic book series by Mike Mignola. Born in the flames of hell and brought to Earth as an infant to perpetrate evil, Hellboy was rescued from sinister forces by the benevolent Dr. Broom, who raised him to be a hero. Hellboy handles the most dangerous missions for Dr. Broom's Bureau for Paranormal Research and Defense. He leads an unlikely family of agents including a "merman," Abe Sapien, and the pyro-kinetic Liz Sherman, who can manifest and control fire. They are the world's first and last line of defense against the dark powers who threaten all of mankind.

The 2004 live action feature film Hellboy has grossed more than $100 million worldwide. The Hellboy comic book series (available through Dark Horse Comics) is one of the industry's biggest sellers.

Revolution Studios was formed by Joe Roth in May 2000 to independently produce and finance films in partnership with Sony Pictures, Starz Entertainment Group and Fox Entertainment Group.

IDT Entertainment is a vertically integrated entertainment company that develops, produces, and distributes proprietary and licensed entertainment content. IDT Entertainment is a subsidiary of IDT Corporation (NYSE:IDT, IDT.C) an international telecom, entertainment, and technology company.

Important Note: 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. While these forward-looking statements represent IDT's current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in IDT's most recent report on SEC Form 10-K (under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations"), which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K and other filings IDT may make with the SEC.