The short answer is YES.
The wireless router uses 2.4GHz (see the specs on the manufacturer's website - http://www.netgear.com/Products/RoutersandGateways/SuperGWirelessRouters/WGT624.aspx?detail=Specifications) and so does your phone (from what you said).
As the previous answer says, your best choice is to get a different phone. DECT would be my choice, as this uses different frequencies, and is almost totally immune from interference, so they will co-exist happily. (and throw the old phone away !)
Last Wiki Answer Submitted: April 30, 2009 5:21 pm by Labnuke9932,645 pts.
All Answer Wiki Contributors: Labnuke9932,645 pts.
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You can also try using the features of the phone to move it to a different channel within the frequency. This may help.