Hackensack, NJ - June 27, 2000 --- Furthering its commitment to international wholesale IP telephony expansion, Net2Phone Inc. (NASDAQ: NTOP) today announced that eircom (NYSE: EIR), the principal provider of fixed line and mobile telecommunications services in Ireland, will install Net2Phone's gateways to trial wholesale Voice over IP traffic using Net2Phone's worldwide IP network.

Along with carrier-grade IP telephony gateways, Net2Phone will provide eircom with the installation, training, and network monitoring, enabling access to Net2Phone's technology, gateways and billing systems.

Net2Phone will handle call management, rating, routing, and authentication through utilization of Net2Phone's top-rated gatekeeper platform. eircom can access Call Detail, Billing history and Account Information over a secure web site in real-time. Net2Phone's fully redundant carrier-grade gateways connect to legacy telephony devices via T1, E1 or analog interfaces. By utilizing Net2Phone's existing Least Cost Routing capabilities, Net2Phone provides efficient toll quality audio, and can terminate calls to anywhere in the world.

"eircom has shown a strong dedication to new technologies and new networks, and we are excited that they have chosen to work with us," said Kenneth Helfer, VP of Carrier Sales for Net2Phone. "As our global IP network expands into more countries worldwide, our relationships with the primary telcos in every region is key to our success in the wholesale arena. Our agreement with both eircom as well as over a dozen other Tier 1 carriers around the globe enables us to continue to lead the IP telephony market with quality products and services."

eircom (formerly Telecom Eireann) is the principal provider of fixed line and mobile telecommunications services in Ireland, offering a wide range of advanced voice, data and multimedia services. eircom's principal business is the supply of domestic and international fixed line and mobile voice and data communications services. The company has over 1.5 million telephone lines connected to its telephone network. eircom has a technologically advanced telecommunications network with fully digital exchanges.Eircell, eircom's mobile communications subsidiary, offers a broad range of mobile communications services.

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.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, among other things, Net2Phone's expected operating performance for the three months ending April 30, 2000 and thereafter. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainty of financial estimates and projections, the competitive environment for Internet telephony, changes of rates of all related telco rates and services, legislation that may affect the Internet telephony industry, and Net2Phone's ability to operate the services described on a large scale commercial level.The forward-looking statements are made as of the date of this press release, and Net2Phone assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Investors should consult all of the information set forth herein and the other information set forth from time to time in Net2Phone's reports filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934.