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The Lawrence Livermore National Laboratory (LLNL) and American Shale Oil, LLC (AMSO), a subsidiary of IDT Corporation (NYSE: IDT; IDT.C), announced today that they have entered into a technical cooperation agreement to develop carbon sequestration technologies for in-ground shale-oil production processes. Specifically, LLNL will partner with AMSO to study how to use depleted underground oil shale retorts to permanently store carbon dioxide generated during the oil shale extraction process. AMSO will provide technical expertise and oil shale core samples from its federal lease site. Oil shale can be converted to oil by subjecting it to high temperatures and high pressures �by speeding up the geologic clock so to speak. In early demonstration projects, LLNL researchers used explosives to fracture the vast oil-shale reserves in the western U.S. so that the oil could be processed in place, thus providing an important alternative to imported oil. That effort evolved in the early 1980s into a surface oil-shale retorting process that used hot oil-shale particles as the heat carrier. The research also produced a model of how oil is formed in nature. Today, this model aids the exploration efforts of nearly every major oil company in the world. The shale that remains in the ground after the oil is extracted could be used as a storage place for the carbon dioxide that is created during the extraction process. �We�re glad to be working with the impressive staff and capabilities of AMSO to help tackle the key environmental and technical challenges facing domestic oil shale production,� said Julio Friedmann, program leader of LLNL�s carbon management program. �We see this partnership in line with our mission in energy and environmental security for the nation.� AMSO holds a Research Development and Demonstration (RD&D) lease from the U.S. Bureau of Land Management for a 160-acre parcel of federal land in northwest Colorado�s oil-shale rich Piceance Basin. Upon demonstration of an economically viable, environmentally acceptable extraction process, AMSO has a preference right to acquire a 5,120-acre commercial lease. After the oil is extracted from shale, the depleted retort of heated, rubblized underground shale may be particularly suitable for capturing carbon dioxide, according to Dr. Alan K. Burnham, AMSO�s Chief Technology Officer. �Together with the Lawrence Livermore National Laboratory, we will explore several interesting approaches to protect the environment by sequestering CO2 through mineralization in retorted oil shale.� �Lawrence Livermore National Lab is a nationally recognized leader in scientific research on clean energy production�, said IDT Chairman and AMSO CEO Howard Jonas. �I�m delighted that the Lab will be working with AMSO to develop carbon sequestration approaches for oil shale production. Americans deserve affordable fuels developed using the best available environmental protection technologies.� Founded in 1952, Lawrence Livermore National Laboratory is a national security laboratory, with a mission to ensure national security and apply science and technology to the important issues of our time. Lawrence Livermore National Laboratory is managed by Lawrence Livermore National Security, LLC for the U.S. Department of Energy's National Nuclear Security Administration. About AMSO American Shale Oil, LLC (AMSO), (www.amso.net) a subsidiary of IDT Corporation (www.idt.net), is one of three companies holding a U.S. Bureau of Land Management oil shale research, development and demonstration lease of government-owned lands in the�Piceance Basin in northwest Colorado. AMSO�s mission is to develop its proprietary technology into a commercially viable and environmentally sound method of producing commercial quantities of shale oil by using in-situ extraction processes. AMSO has developed a multi-phase plan from the initial pilot stage through commercial conversion of the BLM lease. About IDT Corporation IDT Corporation (www.idt.net) is a consumer-focused multinational holding company. In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use 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 our 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 our 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. These factors include, but are not limited to, the following: potential declines in prices for our products and services; our ability to maintain and grow our retail telecommunications services, particularly our prepaid calling card business; availability of termination capacity; financial stability of our customers; our ability to maintain carrier agreements with foreign carriers; effectiveness of our marketing and distribution efforts; increased competition, particularly from regional bell operating companies; our ability to manage our growth; impact of government regulation; our ability to obtain telecommunications products or services required for our products and services; and general economic conditions, particularly in the telecommunications markets. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.