Hackensack, NJ - November 16, 1999 --- Net2Phone, Inc. (NASDAQ: NTOP) today announced the release of its most sophisticated Internet telephony software, Net2Phone V.10.

The Net2Phone V.10 software incorporates advanced digital technologies for improved sound quality and a variety of additional new features, including Net2Phone's free VoicEmail, free PC-to-PC calling, ICQ buddy PC2PC calling and PC-to-Fax solutions, in addition to the company's flagship PC-to-phone service. The new software is free and can be downloaded at www.net2phone.com.

David Greenblatt, Chief Operating Officer for Net2Phone, noted "IP Telephony has always offered the promise of much more than just lower phone rates. The true promise of IP telephony is in all of the advantages and services that IP Telephony can offer versus traditional telecommunications. Net2Phone's new V.10 software can make that promise a reality."

Free PC-to-PC Service
Net2Phone, the first company to offer a commercial PC-to-Phone service, has included free PC-to-PC service in its new Net2Phone V.10. All users equipped with a multimedia PC and the new Net2Phone V.10 software can conduct voice conversations over the internet for free, via Net2Phone's proprietary IP telephony network. Along with the new PC-to-PC service, Net2Phone V.10 users can take advantage of Net2Phone's low global rates for PC-to-Phone service.

Those using Net2Phone's PC-to-PC service must designate a Net2Phone virtual number or nickname in order to be called by another PC. Future versions of Net2Phone will allow users to receive calls on your Net2Phone, via an actual telephone, to these phone numbers.

Advanced Technologies for Enhanced Performance and New Features but Same Low Rates Net2Phone's V.10 includes a host of advanced digital technologies for incorporating the features and service advantages that IP telephony can provide, with a quick download of the new V.10 software (approximately 5 seconds on a T1 to 5 minutes on a 33.6 modem connection). The V.10 includes Net2Phone's new VoicEmail, which provides a free voice-mail service for sending and receiving voice messages. VoicEmail allows users to send, receive, record and listen to voice mail messages from theNet2Phone V.10 client to your e-mail box.

ICQ Integration into Net2Phone PC-to-PC Software
All ICQ registered users can now call their ICQ buddies with Net2Phone's PC-to-PC service for free in real-time. Both ICQ users must have Net2Phone running on their PCs. In order to use the service, users can click on the ICQ button on the Net2Phone software, and select an ICQ buddy to call. Users can also send a voicemail to an ICQ buddy if the buddy set up his email address in his ICQ registration.

Net2Fax, PC-to-Fax Technology Incorporated into Net2Phone V.10
Another Net2Phone First The new Net2Phone V.10 client also includes Net2Fax, Net2Phone's PC-to Fax business solution. Net2Fax allows Net2Phone users to fax any document on a PC via Internet telephony to virtually any fax machine in the world. Net2Phone V.10 also provides consumers and small businesses with some of the lowest rates for faxing documents to anywhere in the world. Net2Fax is seamlessly integrated into the new Net2Phone V.10 with both real-time and broadcast fax capabilities to take advantage of the low Net2Phone prices.

New Graphical User Interface
Net2Phone has also redesigned its graphical user interface to reflect a more user-friendly software. The new interface allows for PC-to-PC, PC-to-phone, and PC-to-fax communications all using one telephone screen. Added features include voice mail, speed dial, online shopping, people search, account status, personal address book, and volume control.

Net2Phone is a leading provider of voice-enhanced Internet communications services to individuals and businesses worldwide. Net2Phone enables people to place low-cost high quality calls from their computer, telephone, or fax machine to any telephone or fax machine in the world. Net2Phone develops and markets technology and services for IP voice and e-commerce solutions for the web and other IP networks. For more information about Net2Phone's products and services, please visit www.net2phone.com.

Editors: In order to receive a press demo copy of the software, please e-mail pr@net2phone.com. Only accredited press members will receive the demo software.

Except for historical information, all of the expectations and assumptions contained in the foregoing are forward-looking statements involving risks and uncertainties. Important factors that could cause actual results to differ materially from such forward-looking statements, include, but are not limited to, the competitive environment for Internet telephony, changes of rates of all related telecommunications rates and services, legislation that may affect the Internet telephony industry, Net2Phone's ability to operate the services described on a large scale commercial level. For additional information regarding these and other risks associated with the company's business refer to the company's reports filed with the SEC.

Sarah Hofstetter
Vice President, Corporate Communications
Net2Phone
201-928-2882
sarah@net2phone.com