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ITXC and Russian Telecommunications Carrier BSH Sign Global Bilateral Exchange Agreement.

Business Editors/High-Tech Writers

PRINCETON, N.J. & MOSCOW--(BUSINESS WIRE)--May 21, 2003

ITXC Corp.(R) (Nasdaq:ITXC) and Business Sviaz Holding (BSH) announced today that they have signed an agreement for bilateral exchange of international voice traffic to and from Russia over ITXC's global Voice over IP (VoIP) network ITXC.net(R).

ITXC is one of the world's leading international voice carriers; BSH is a privately owned, alternative telecommunications operator in Moscow.

ITXC operates the world's largest international VoIP network, interconnecting over 175 countries through direct traffic relationships with hundreds of local, national and global carriers. BSH benefits from the revenue they receive when they terminate calls sent to them over ITXC.net from countries around the world. BSH also benefits when they send calls originated by their customers in Russia to other countries over the same network because of the low cost and high quality ITXC delivers.

A single connection to ITXC allows alternate carriers to have an instant international network, a competitive costs basis, and a new revenue stream. This combination frees a carrier's capital and resources to focus on retail end user acquisition and retention.

"Our relationship with ITXC represents another step in offering competitively priced voice services to our clients in Russia," said Irina Grishanova, Director General of BSH. "Our connection to ITXC.net enables us to take full advantage of ITXC's extensive global network over which we can originate and terminate calls to and from any destination in the world."

"ITXC is pleased to be able to offer BSH the ability to scale up to meet the growing demand for high quality, well-priced international long distance services in Russia," said Chris Haller, ITXC Managing Director for Central and Eastern Europe, Russia and the newly independent states. "Through a single connection to ITXC.net, BSH will gain a new revenue stream for the calls they terminate on behalf of ITXC - calls which are aggregated from carriers around the world. ITXC.net also enables BSH to more effectively compete for new business originating calls from Russia to global destinations."

As part of the company's global expansion plan, ITXC officially opened a new sales office in Moscow last week with the appointment of Martin Talbot as Country Manager. Talbot will play a key leadership role in the company's plans to increase its presence in this market.

With GDP growth recorded at 4% in 2002, Russia is a bright spot in this period of sluggish growth for the global economy. According to a US Commercial Services report published in October 2002, the Russian telecommunications market has been identified as one of the more promising sectors for continued expansion, demonstrating strong growth over the last year. They reported that the Russian market for telecommunications services was worth approximately $6.6 billion dollars in 2001.

About ITXC:

ITXC Corp. is one of the world's leading carriers based on minutes of international traffic carried. As a carriers' carrier, ITXC serves all major carriers in the U.S.; many incumbent carriers worldwide including China Telecom, PLDT, Telkom South Africa, Telecom Colombia, Telenor, Telia, and VSNL; and emerging and competitive carriers including COTAS-Teledata in Bolivia, Vietel in Vietnam and Data Access in India. ITXC also serves a growing number of mobile carriers including China Mobile, one of the world's largest mobile carriers. ITXC is the global market share leader in VoIP international calling with approximately 20% of the market, according to TeleGeography 2003.

ITXC was also the Fastest Growing Technology Company in North America according to the 2002 Deloitte & Touche Technology Fast 500 ranking.

For more information about ITXC, please visit www.itxc.com.

About Business Svyaz Holding:

Established in 1991, the Business Svyaz Holding (BSH) company is regarded as one of the oldest alternative communication operators of Moscow.

BSH is one of the first companies to build a teleport within the precincts of Moscow. For more than 10 years the Moscow bureaus of CNN, APTN, CBS and other TV companies have been using the BSH technical facilities.

Partnerships with the leading Russian and international telecommunication operators help BSH offer clients economical quality telecommunication solutions in the Russian Republic and around the world - high-quality communication services utilizing advanced technologies. Through these technologies BSH clients have the opportunity to access or develop corporate networks through IP-VPN, including VoIP technology, instant messaging, Internet access, and others.

At present BSH's own, rapidly growing fiber-optic network in the city of Moscow covers more than 400 km and is based on the leading producers of telecommunications equipment.

Forward-looking statements

ITXC has included in this press release "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including all statements listed as guidance and all statements of anticipated or expected results for the current quarter and any future periods.

Actual results could differ materially from those projected in the Company's forward-looking statements due to numerous known and unknown risks and uncertainties, including, among other things, the volatile and competitive environment for Internet telephony and telecommunications; changes in domestic and foreign economic, market, and regulatory conditions; the inherent uncertainty of financial estimates and projections; uncertainty related to the CEO search ITXC has recently announced; uncertainty inherent in litigation; unanticipated technological difficulties; the creditworthiness of our customers; future transactions; and other considerations described as "Risk Factors" in Exhibit 99 to the Company's Annual Report on Form 10-K for the year ended December 31, 2002 and in other filings by the Company with the SEC.

All such forward-looking statements are current only as of the date on which such statements were made. ITXC does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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Publication:Business Wire
Geographic Code:4EXRU
Date:May 22, 2003
Words:959
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