Vonage Holdings Corp. today announced the launch of a Directed Share Program as part of its proposed initial public offering (IPO) of common stock, which will allow eligible customers to purchase shares at the IPO price.

To be eligible to purchase common stock at the IPO price in the Vonage IPO, customers must meet strict eligibility criteria. Vonage customers may be eligible to participate if they meet all of the following criteria:

• they opened accounts with Vonage America on or prior to December 15, 2005, and
• maintained their accounts in good standing through February 1, 2006, and
• are a U.S. citizen, and
• reside in the U.S. when the offering closes, and
• have a valid social security number