PRESS RELEASE FOR IMMEDIATE RELEASE Contact: Mariana Cavin ITXC Corp. +1.609.750.3461 mcavin@itxc.com Patrick Christian TeleGeography +1.202.741.0043 pchristian@telegeography.com ITXC Is Global Voice over IP Market Share Leader for the Third Consecutive Year According to TeleGeography 2003 Study reports: · ITXC carries 20% of the world's international VoIP minutes · International VoIP minutes expected to increase to 10% of total international minutes for all of 2002 NOVEMBER 21, 2002 - PRINCETON, NJ, USA and WASHINGTON, D.C., USA - ITXC Corp. (NASDAQ: ITXC), one of the world's leading wholesale voice carriers, and TeleGeography, Inc., the authoritative source for international telecom statistics and analysis, announced that ITXC is the global voice over Internet Protocol (VoIP) market share leader for the third consecutive year. According to the just released report TeleGeography 2003, the share of the world's phone-to-phone traffic sent over IP networks is estimated to increase from 6% in 2001 to 10% in 2002. ITXC carries nearly 20% of the world's international VoIP minutes according to the report. According to TeleGeography 2003, VoIP is estimated to account for 18 billion minutes in 2002 - up from 9.9 billion minutes in 2001. TeleGeography estimates that worldwide there will be over 160 billion minutes of international calling in 2002, up from 144 billion minutes in 2001. These figures only include phone-to-phone calls placed through carriers; PC-to-phone, PC-to-PC calls and calls on private networks are excluded. "More and more carriers are realizing the benefits of VoIP and, in particular, ITXC's voice quality over the Internet as evidenced by the growth statistics from TeleGeography 2003," said ITXC chairman and CEO Tom Evslin. "ITXC's global network delivers the quality, reach, and economics wholesale and retail carriers require. Winners and survivors in the rapidly restructuring telecommunications industry rely on ITXC for some or all of their international calling. "ITXC believes all calls will travel over the Internet by 2010. The latest statistics from TeleGeography show the accelerating growth of VoIP." TeleGeography 2003 also says that Latin America led the way in cross-border voice calls carried on IP networks followed by Europe, Asia, the US & Canada, the Middle East, and Africa. ITXC carries phone calls to and from all of those regions over ITXC.net for all of the major U.S. and many non-U.S. incumbent carriers such as China Telecom, PLDT, Telecom Colombia, Telkom South Africa, Telenor, Telia, and VSNL, emerging and existing competitive carriers worldwide including COTAS-Teledata in Bolivia, prepaid calling card companies, as well as a growing number of mobile carriers including China Mobile, the world's largest mobile carrier. ### About TeleGeography: TeleGeography, Inc. is the authoritative source for international telecom statistics and analysis. An independent subsidiary of Band-X Ltd., TeleGeography publishes reports, databases, and maps that are used by thousands of communications companies, consultancies, governments, and financial institutions in over 100 countries. The company's flagship report on international traffic - the self-titled TeleGeography series - has been published annually since 1989. For more information, visit www.telegeography.com. About ITXC: ITXC Corp. is one of the world's leading global carriers based on minutes of traffic carried. As a carriers' carrier, ITXC serves all major carriers in the US; many incumbent carriers worldwide including China Telecom, PLDT, Telkom South Africa, Telecom Colombia, Telenor, Telia, and VSNL; and emerging and competitive carriers including COTAS-Teledata in Bolivia, Vietel in Vietnam and Data Access in India. ITXC also serves a growing number of mobile carriers including China Mobile, one of the world's largest mobile carriers. ITXC is the global market share leader in Voice over IP services with approximately 20% of the VoIP international calling market according to TeleGeography 2003. ITXC is also the Fastest Growing Technology Company in North America according to the 2002 Deloitte & Touche Technology Fast 500 ranking. For more information about ITXC, please visit www.itxc.com. Forward-looking statements ITXC has included in this press release "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including all statements listed as guidance and all statements of anticipated or expected results for the current quarter and any future periods. Actual results could differ materially from those projected in the Company's forward-looking statements due to numerous known and unknown risks and uncertainties, including, among other things, unanticipated technological difficulties; the volatile and competitive environment for Internet telephony and for telecommunications; changes in domestic and foreign economic, market, and regulatory conditions; the inherent uncertainty of financial estimates and projections; uncertainty inherent in litigation and in bankruptcy proceedings; the creditworthiness of our customers; future transactions; and other considerations described as "Risk Factors" in Exhibit 99 to the Company's Annual Report on Form 10-K for the year ended December 31, 2001 and in other filings by the Company with the SEC. All such forward-looking statements are current only as of the date on which such statements were made. ITXC does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.