October 29, 2008

mPhase Showcased Smart NanoBattery and Reserve Battery for Flashlight Application at Nanotechnology Event

mPhase Technologies, Inc. (OTCBB: XDSL) said it presented at the New Jersey Technology Council (NJTC) Nanotechnology Prototype Showcase in Mid-October at the Babbio Center, Stevens Institute of Technology, Hoboken, New Jersey.

Nanotechnology is finding its way into more and more applications. Getting to a final product, however, is challenging from both technical and commercial standpoints. Once a concept has been proven in the lab, reaching the prototype stage in product development is pivotal in planning a manufacturing route and recognizing business opportunities. mPhase/AlwaysReady is currently developing products based on its Smart NanoBattery, with its proprietary superhydrophobic and electrowettable membrane, as well as a manually activated reserve battery with a breakable separator for an emergency flashlight application. At the Showcase, CEO and President of AlwaysReady, Dr. Fred Allen, demonstrated the principles behind the Smart NanoBattery and also demonstrated the manually activated reserve battery. He also moderated a panel discussion titled, "The Inventor / Investor Challenge - Bridging the gap between prototype development and product commercialization."

Said AlwaysReady CEO Fred Allen, "We were glad to be participate in this NJTC event to show the rapid progress we have made in developing our Smart NanoBattery and reserve flashlight. Nanotechnology is playing an increasingly important role in consumer, industrial and military applications, and mPhase/AlwaysReady is focused on delivering nano-enabled prototypes and products as rapidly as we can."

About mPhase Technologies, Inc. and AlwaysReady, Inc.

mPhase Technologies, Inc. (OTCBB: XDSL), through its wholly owned subsidiary AlwaysReady, Inc., is focused on developing and commercializing a new battery technology based on a well-patented phenomenon known as electrowetting, which provides a unique way to store energy and manage power that will revolutionize the battery industry. For more information, please visit our website at www.mPhaseTech.com.

Safe Harbor Statement

This news release contains forward-looking statements related to future growth and earnings opportunities. Such statements are based upon certain assumptions and assessments made by management of companies mentioned in this press release in light of current conditions, expected future developments and other factors they believe to be appropriate. Actual results may differ as a result of factors over which the company has no control.

About the New Jersey Technology Council

The New Jersey Technology Council (NJTC) provides business support, networking opportunities, information, advocacy and recognition of technology companies and their leaders. Founded in 1996, NJTC's more than 1,200 member companies work together to support their own enterprises while advancing New Jersey's status as a leading technology center in the United States. To learn more about NJTC, visit their website at www.njtc.org.

 Contact: Mr. John Levitt mPhase Technologies, Inc. Public Relations 973-256-3737 x166 Email Contactwww.mPhaseTech.com

SOURCE: mPhase Technologies