February 7, 2002 -- IDT Corporation (NYSE: IDT, IDT.B), a multinational carrier and telephone company, announced the acquisition of privately-held Horizon Global Trading LLC, a provider of comprehensive, real-time business solutions to the financial securities industry through a proprietary line of Internet-based software products.

Horizon provides financial institutions with a one-stop solution for investing, trading, lending, clearing and processing securities. Horizon's prestigious roster of clients includes institutions such as, UBS Warburg, First Union, Societe Generale, HSBC and Mizuho Bank.

Previously, on December 20 of last year, IDT announced its acquisition of substantially all the operating assets of Winstar Communications, Inc. Winstar operates as a Competitive Local Exchange Carrier (CLEC) in 50 states using fixed wireless technology to provide telephone and data services to enterprise customers.

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