Wave Issue 0350 02/13/04 Article 1-02

*** Vonage Raises $40 Million Financing Round Led by 3i and Co-Led by
Meritech Capital Partners
(February 6)

Vonage announced the closing of a $40.0 million series C financing
round led by 3i and co-led by Meritech Capital Partners, bringing total
investment in the company over the past three months to $75 million.
Existing investors New Enterprise Associates and Vonage senior
management also participated in the round, bringing the capital raised
to $103.0 million.

Principia Capital Group served as financial advisor to Vonage
throughout the transaction. KMZ Rosenman served as legal advisor. J.
Sanford (Sandy) Miller, managing director with 3i, will join Vonage's
Board of Directors.

Vonage customers require a high-speed Internet connection and a regular
home telephone to utilize VoIP. The company offers rate plans, ranging
from $14.99 for residential customers to $49.99 for small businesses.
All rate plans include caller ID, call waiting, voicemail, call
forwarding, and emergency calling service.

Vonage offers three options for checking voicemail:

You can dial into a menu and listen over the phone.
Listen to voicemail online.
Listen to voicemail in your email box (a .wav file will be sent to your
account).

Area Code Selection:
Vonage customers can choose any area code, regardless of location.