ITXC Interconnected with Ghana Telecom

Ghana Telecom Increases Traffic with Voice over the Internet

PRINCETON, N.J. & ACCRA, Ghana--(BUSINESS WIRE)--Aug. 28, 2001-- ITXC Corp (NASDAQ:ITXC) and Ghana Telecom, Ltd., the leading provider of telecommunications services and the fifth largest company in Ghana, announced today that Ghana Telecom is now terminating international long distance phone-to-phone traffic in Ghana using ITXC.net(SM).

In less than four years of operation, ITXC has developed ITXC.net - the world's largest network for voice over the Internet - and has used it to become the seventh largest carrier in the US measured by revenue from wholesale US outbound international phone calls.

The Government of Ghana and a consortium led by Telecom Malaysia own Ghana Telecom. It has branches in all the ten regional capitals and in most of the district capitals of Ghana and it employs over 3,000 people. Ghana is a leader in the area of deregulation in Africa. For the past two years Ghana has enjoyed the benefits of the first stage of deregulation that allowed two carriers.

Ghana Telecom will soon be entering the next stage of deregulation and understands the importance of using state-of-the-art technology and competing in the new open market. The company is committed to becoming a telecommunications model for the Western Africa region.

Under the agreement with ITXC, Ghana Telecom is paid for completing calls flowing into Ghana over ITXC.net, which has points of presence in over 125 countries. Other ITXC carrier customers around the globe, who are also connected to ITXC.net, generate these calls.

ITXC customers include most major carriers in the United States as well as many of the dominant, emerging, and competitive carriers of the world. Much of the traffic ITXC is sending to Ghana comes from newer companies Ghana Telecom does not yet have individual agreements with. This is new traffic to Ghana Telecom and the income it generates can be used to develop Ghana's domestic network.

Ghana Telecom also plans to begin using ITXC.net to send calls from Ghana to the rest of the world. ITXC offers Ghana Telecom better margins on calls leaving Ghana because it uses the Internet, the most cost-effective way to transport any form of data - including voice.

ITXC has developed and patented technology to provide carrier quality for voice with Internet economics. Calls traveling to and from Ghana over the Internet are placed and received on ordinary telephones and fax machines in the usual way.

Neither the caller nor the called party needs to have or use a computer; and, since ITXC uses intelligent routing technology to provide quality that is as good or better than the legacy phone network, callers are unaware that their calls are being routed over the Internet.

By co-locating ITXC equipment at its switch facilities, Ghana Telecom is able to connect its switches directly to ITXC.net to speed provisioning time, increase network capacity, and improve cost structure with almost no additional capital investment.

``Ghana has a reputation among African nations for being an early adopter of advanced technology and deregulation,'' said Tom Evslin, ITXC Chairman and CEO. ``Ghana Telecom recognizes that voice over the Internet is the most effective way to increase its traffic and revenues and that its adoption is essential to a carrier's ability to remain competitive. Ghana Telecom joins Telkom South Africa, SotelTchad, and Zimbabwe PTC in connecting to ITXC.net.''

ITXC has used the Internet to build the world's largest network for global Internet call completion. Originally, most of the calls were placed from the U.S. and Western Europe to people in developing nations. As telecom markets around the world begin to open to competition, more and more calls are being placed in countries that had previously only received calls from ITXC.

Two-way global traffic over ITXC.net increases volume on ITXC's network, increases ITXC's margins, increases revenues for terminating carriers, and provides more competitive rates to ITXC carrier customers.

Today ITXC.net transports voice over the Internet calls to more than 125 countries and provides quality that is equal to or, in some parts of the world, better than that provided by the legacy phone network.

``Connecting to ITXC's existing global voice over the Internet network allows us to terminate more traffic into Ghana than we are receiving today. Working with ITXC also allows us to add additional capacity for calls going out of Ghana at very little cost and in record time,'' said Dato Abdul Malek Mohamed - Managing Director of Ghana Telecom. ``We can use the additional revenue to build out our national network and increase teledensity, both of which are very important in our new competitive markets.''

About Ghana Telecom

Ghana Telecom is the leading provider of telecommunications in the African country of Ghana. The company's vision is to be a regional model, viable business entity, and caring organization that meets telecommunication needs through total customer care.

Its mission is to provide reliable, flexible, and efficient telecommunications services to customers with an emphasis on innovation, technology, and continuous manpower development to meet stakeholders' expectations in attaining regional excellence. For more information, visit www.ghanatel.net.

About ITXC

In less than four years of operation, ITXC Corp (NASDAQ:ITXC) has become the largest global carrier based in the US dedicated exclusively to carrying voice calls on behalf of other carriers.

ITXC has permanently changed the economics of international long distance by establishing and operating ITXC.net, the company's Internet-based voice network of over 585 PoPs in 335 cities and 125 countries, which delivers carrier-grade voice quality.

ITXC's patented and patent pending BestValue Routing(TM) technology provides such high voice quality that tier one carriers use ITXC for worldwide phone-to-phone traffic without needing to tell their customers that the calls are actually traveling over the Internet.

Customers include almost all major carriers and most RBOCs in the US, many major traditional carriers worldwide, new competitive carriers in deregulating countries including local exchange operators (LECs) who outsource their new domestic and international long distance services to ITXC, e-commerce marketers who increase sales for their customers with ITXC Push to Talk(SM) buttons on Web sites and e-mail, and Internet-based Web-to-phone providers.