CVT Prepaid Solutions Settles Lawsuit With IDT Telecom and Union Telecard Alliance

GREAT NECK, N.Y., and NEWARK, N.J., Nov. 29 /PRNewswire/ -- CVT Prepaid Solutions Inc., IDT Telecom, Inc. and Union Telecard Alliance, LLC have reached a private settlement of the lawsuit brought by IDT and UTA against CVT.

The lawsuit was commenced on March 8, 2007 against several prepaid calling card companies, including CVT. CVT denied all the allegations in the lawsuit.

Pursuant to the settlement, IDT and UTA have dismissed the lawsuit with prejudice.

Pursuant to the settlement agreement, CVT has agreed to continue its current practice of delivering 100% of minutes of telecommunications time stated to consumers in its voice prompts and advertising. Plaintiffs IDT and UTA will similarly continue such practices.

Pursuant to the terms of settlement agreements reached earlier this year, defendants that have settled to date have similarly committed to adhere to such practices.

IDT/UTA's lawsuit against the remaining defendants is still continuing in federal court in Newark, New Jersey.

About IDT Telecom, Inc. and Union Telecard Alliance, LLC:

IDT Corporation is a multinational company with operations that span various industries. Through its Telecom subsidiary, IDT provides retail and wholesale telecommunications services and products, including pre-paid and rechargeable calling cards, consumer local, long distance, and wireless phone services, and wholesale carrier services. UTA is one of the largest distributors of prepaid phone cards in the United States and distributes over 200 different phone cards throughout the country.

About CVT Prepaid Solutions Inc:

CVT Prepaid Solutions is a provider of enhanced prepaid solutions with our primary focus on servicing the needs of our customers and their distributors. We exclusively offer professional and manufacturing services for both domestic and international prepaid calling cards. CVT Prepaid Solutions is advancing the prepaid telecom industry with its visionary value-driven approach, built on consistently delivering operational excellence, unmatched purchasing strength and pioneering marketing differentiation. Through our extensive distributor network, CVT Prepaid Solutions markets more than 350 brands of prepaid cards, available at more than 40,000 points of sale around the US.

CONTACT: LEWIS GOLDBERG/JEFFREY CORBIN KCSA WORLDWIDE (212) 896-1216/(212) 896-1214 lgoldberg@kcsa.com / jcorbin@kcsa.com