Acquisition of Hexal AG and Eon Labs, creating the world leader in generics

• Strengthens market positions globally
• Background
• Two-step cash merger
• $31.00 per share of common stock
• 1.3 billion total
• Summary term sheet
• Summary of agreements
• Conditions

Advisors

Announced 2.21.05

Completed 5.20.05

Agreements

Schedule TO Filing

Schedule 14D-9 Filings

Other significant SEC filings

Intention of offer to purchase all outstanding shares

• IDT currently, directly and indirectly, owns 2,773,798 shares of Net2Phone common stock and 28,896,750 shares of Net2Phone class A common stock representing approximately 41% of Net2Phones outstanding equity securities and approximately 57% of the total voting power of Net2Phones outstanding equity securities
• The offer will be subject to the non-waivable condition that it be accepted by holders of a majority of the outstanding shares of common stock of Net2Phone not owned by IDT and its affiliates. The offer will be subject to the waivable condition that IDT directly or indirectly own at least 90% of the outstanding shares of common stock of Net2Phone following consummation of the offer
• Going private Rule 13-E
• $1.70 per share for Class A common stock

Advisors

Announced 6.28.05

Net2Phone to review IDT proposal

Schedule TO Filing

Schedule 14D-9 Filings

IDT response to Net2Phone letter

IDT changes from cash to stock  9.06.05

Netherlands printing and documents management services company acquires US firm Imagistics

• Two-step cash merger
• US$42.00 per share; US$685 million total
• 100% tender

Advisors

Announced 9.16.05

Agreements

Schedule TO Filing

Schedule 14D-9 Filings