Unfortunately there is no base class to do this in .NET nor is there an API function to do this directly.
You will have to manually edit th entries in the Registry.
You'll need to follow this procedure:
- Iterate through all the sub-keys in HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Windows NT\CurrentVersion\NetworkCards
- Store the various ServiceNames in an Array. These ServiceNames are the names of the available network cards on the current machine.
- The next thing you should do is check which network card's IP address you want to change. Let its service name be X
- Visit the following Registry Key : HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Services\X\TcpIp
- Modify whichever field you need to change. You will need to modify one or more of these fields:
- DefaultGateway
- DhcpDefaultGateway
- DhcpIPAddress
- DhcpServer
- DhcpSubnetMask
- IPAddress
- ..etc..
- You're done!!!
I've written this as detailed as possible.
You should now be able to code this procedure very easily in VB.NET.

One more thing:
To modify the IPAddress field, you will need to store the IP Address as a set of Bytes (terminated by two nulls) and not as a string.
Use this to change the IP-Address Field:
vb
<regObject>.SetValue("IPAddress", Encoding.ASCII.GetBytes("127.0.0.1\0\0"))