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HOLMDEL, N.J., July 5, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Vonage Holdings Corp., (NYSE: VG), a leading provider of broadband telephone services, today announced that the company has been added to the Russell(R) 3000 Index following the Russell Investment Group's reconstitution of its family of U.S. indexes on June 30, 2006. The Russell 3000 Index measures the performance of the 3,000 largest U.S. companies based on total market capitalization.
Membership in the broad-market Russell 3000, which remains in place for one year, means automatic inclusion in additional Russell Indexes. Vonage was also added to the Russell 2000 Index and the Russell 2500 Index. Russell determines membership for its equity indexes primarily by objective, market capitalization rankings and style attributes.
"We are honored that Vonage was added to the Russell Indexes," said Vonage Chairman and Chief Strategist Jeffrey A. Citron. "Our inclusion in the Russell 3000 will increase Vonage's visibility with investors and institutions that rely on the Russell indexes as part of their investment strategy."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.8 trillion in assets currently are benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to the company's weighting in that particular index.
Annual reconstitution of Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 while the remaining 2,000 companies become the widely used Russell 2000. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
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About Vonage
Vonage (NYSE: VG) is a pioneer in the Internet telephony industry. The award winning Vonage(R) service is sold on the web and through national retailers. Vonage Holdings Corp. is headquartered in Holmdel, New Jersey. For more information about Vonage's products and services, please visit http://www.vonage.com or call 1-VONAGE-HELP. Vonage(R) is a registered trademark of Vonage Marketing Inc., a subsidiary of Vonage Holdings Corp.
About Russell
Russell, a global leader in multi-manager investment services, provides investment products and services in 44 countries. Russell manages more than $167 billion in assets and advises clients worldwide representing $2.4 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, London, Paris, Singapore, Sydney, Auckland and Tokyo. For more information go to http://www.russell.com .
Safe Harbor Agreement
Statements in this press release that are not historical facts or information may be forward-looking statements. These forward-looking statements are based on information available at the time the statements are made and/or management's belief as of that time with respect to future events and involve risks and uncertainties that could cause actual results and outcomes to be materially different. Important factors that could cause such differences include, but are not limited to, our history of net operating losses and our need for cash to finance our growth; the competition we face; our dependence on our customers' existing broadband connections; differences between our service and traditional phone services, including our 911 service; uncertainties relating to regulation of VoIP services; system disruptions or flaws in our technology; our ability to manage our rapid growth; the risk that VoIP does not gain broader acceptance; and other factors described in our registration statement on Form S-1, as amended, and in our subsequent periodic reports filed with the SEC.
SOURCE Vonage Holdings Corp.
Mitchell Slepian of Vonage, +1-732-528-2677, mitchell.slepian@vonage.com
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