ORLANDO, FL– VoIP, Inc. (OTCBB: VOIC) announced today that it has entered into definitive agreements for a $2.5 million private placement comprised of secured convertible notes issued to a number of institutional investors, including existing shareholders.

VoIP received approximately $1.3 million in the first closing and is expected to receive the remaining proceeds under closings scheduled for January 18, 2008 and February 18, 2008.
Tony Cataldo VoIP Inc.’s CEO said, “During the past year, we have expanded our network, increasing the minutes carried over it substantially. This has resulted in improved operating results, a trend we expect will continue throughout 2008.
“This financing will allow us to support higher levels of activity over our network and to continue to invest in maintaining and expanding it.”
The company sells turnkey Voice over Internet Protocol (VoIP) communications solutions for service providers, resellers and consumers worldwide. The Company is also a certified Competitive Local Exchange Carrier and Inter Exchange Carrier.

Through its wholly owned subsidiary, VoiceOne Communications, LLC, the company provides a comprehensive portfolio of advanced telecommunications technologies, enhanced services, broadband products, and fulfillment services to the VoIP and related communications industries.

On the Web: wwwvoipincorporated.com

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