IDT Selected as Exclusive Calling Card Provider for Goya Foods’ “Stay in Touch with the Family” Program
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The Companies Create Strategic Marketing Relationship
NEWARK, N.J-- August 6, 2002 – IDT Corporation (NYSE: IDT.B; NYSE: IDT), a leading multinational carrier and telephone company, is pleased to announce that it has been selected as the exclusive prepaid calling card provider by Goya Foods,Inc. for its “Stay in Touch with the Family” Program. As part of the strategic marketing relationship, IDT will supply Goya Foods with specially branded pre-paid calling cards to be used in connection with the promotion of certain Goya products. Now with IDT and the Goya phone card, staying in touch with the family has never been easier.
IDT and Goya both recognize that enjoying a meal together and talking with loved ones are two important parts of family life. The Goya Foods promotion literally lets people “Stay in Touch With the Family.” As part of the program a 25-minute pre-paid calling card powered by IDT will be included with the purchase of specially marked 3-packs of Goya Rice Mix at participating retailers. The card will provide both English and Spanish dialing instructions and can be used in the United States to make calls to anywhere in the U. S. and Puerto Rico. The card can be used to call other international locations, but since rates vary the number of minutes of call time might vary as well.
“IDT and Goya go together like rice and beans,” said Howard Jonas, IDT’s Chairman. “Goya is clearly the first name in Spanish and ethnic foods and IDT sells more than a billion dollars of prepaid phone cards a year to the predominantly Hispanic and other ethnic communities.”
There are more than 38-million Spanish speaking people in the United States, according to recent published reports. And it is estimated that U.S. Hispanics have a combined buying power of more than $450 Billion.
"A rapidly growing Spanish speaking population makes our new relationship with Goya, the largest Hispanic-owned food company in the United States, extremely significant,” said Jim Courter, IDT CEO. “As the prepaid phone card segment of our business continues to expand quickly, this agreement provides IDT with an immediate and important advantage in increasing its reach into the growing ethnic markets."
The Goya “Stay in Touch with the Family” promotion will initially be available in the New York, New Jersey and Connecticut Tri-State area.
GOYA FOODS, INC
Goya Foods, Inc., was founded in 1936 by Spanish immigrants Prudencio and Carolina Unanue, who began by importing authentic Spanish products, such as olives, olive oil and sardines, and selling them to New York's growing Hispanic population. More than 60 years later, Goya Foods, Inc., has become America's premiere purveyor of rice, beans, seasonings, nectars and authentic Latin specialties. Goya products are distributed from coast to coast and beyond, to customers from all backgrounds who seek great-tasting and quality food products.
The largest Hispanic-owned food company in the United States, Goya employs more than 2,000 people worldwide. As evidence of the success of Goya Foods, Inc., today it operates more than 13 facilities throughout the U.S., Caribbean and Europe. Though Goya Foods, Inc., has grown during the past six decades, its mission is the same today as it was in 1936 - Goya is dedicated to providing high-quality food and beverage products that meet and exceed the needs of its customers.
IDT CORPORATION
IDT, through its IDT Telecom subsidiary, is a leading facilities-based, multinational carrier that provides a broad range of telecommunications services to its retail and wholesale customers worldwide. Through its own national telecommunications backbone and fiber optic network infrastructure, IDT Telecom provides its customers with integrated and competitively priced international and domestic long distance telephony and prepaid calling cards. IDT Media is the IDT subsidiary principally responsible for the Company's initiatives in media, new video technologies and print media.
Through its various subsidiaries, IDT has interests in several telecom, Internet-related and media companies. IDT recently acquired Winstar Communications. IDT Corporation common shares trade on the New York Stock Exchange under the ticker symbols IDT.B and IDT. As of June 10, 2002, there were 53.4 million shares of Class B common stock (IDT.B) outstanding, and 24.9 million shares of common stock (IDT). Of these, 4.0 million shares of Class B common stock and 5.4 million shares of common stock were held by units of IDT Corporation.
IDT Private Label calling cards offers a unique, "value added" marketing advantage,
For More Information Contact: 800-373-8438
Except for historical information, all of the expectations and Assumptions contained in the foregoing are forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and the Securities Exchange Act of 1934, involving risks and uncertainties. These statements refer to our plans to implement our growth strategy, improve our financial performance, expand our infrastructure, develop new products and services, expand our customer base and enter international markets. The forward looking statements also include our expectations concerning factors affecting the markets for our products, including the demand for long distance telecommunications, and Internet access services. These forward looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the results that we anticipate. These risks and uncertainties include, but are not limited to, those risks discussed in this release. In addition to the factors specifically noted in the forward looking statements, other important factors that could result in those differences include (a) general economic conditions in the telecommunications and Internet markets, including inflation, recession, interest rates, and other economic factors; (b) casualty to or other disruption of our facilities and operations; (c) those discussed in our Annual Report on Form 10K for the period ended July 31, 2001 and (d) other factors that generally affect the business of telecommunications, Internet and other communications companies. We assume no obligation to update these forward looking statements or to update the reasons actual results could differ materially from the results anticipated in the forward looking statements.
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Aug 06, 2002 |
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