Hi,
That will only release the ip address until the computer next logs on, assuming it is still in its lease period.
If you need to release the IP address from the PC that it is bound to. It needs to be on the DHCP server.
You will need to go to DHCP Manager.
Select Scope from the menu, active leases, this will show a list of ip addressed currently active. You will then be able highlight the address you want to release, and the click (i think its delete) i dont have access to the screen at the moment, that should it..!!
Paul