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mPhase Technologies and Bell Labs Extend Agreement to Jointly Develop Nano- and MEMS-Based Applications and Technologies; Work Focuses on Advanced Ultra-Sensitive Magnetometers and Smart Nano-Structured Batteries

Posted on: Tuesday, 23 May 2006, 16:56 CDT

mPhase Technologies, Inc. (OTC:XDSL) today announced that it has extended its agreements with Bell Labs, the research and development arm of Lucent Technologies, to continue their joint nanotechnology development effort.

"We are pleased to renew and extend our collaboration with mPhase and look forward to continuing the groundbreaking research and development that the two companies are jointly pursuing," said Alice White, Enabling Physical Technologies Vice President for Bell Labs. "We are very pleased with the results of this collaboration to date and feel that the technologies we are working on have the potential to yield a new generation of high performance micro and nano structured devices."

The agreements cover the development of smart nano-structured batteries and a series of ultra-sensitive magnetometers. Prototype components are being produced in the fabrication facility of the New Jersey Nanotechnology Consortium (NJNC), a subsidiary of Lucent based at and run by Bell Labs in Murray Hill, N.J.

"We're pleased to be engaged in a valuable research and development relationship centered at renowned facilities of Bell Laboratories," said Ronald A. Durando, mPhase CEO. "Our collaboration is driving rapid progress in matching technical advances with unmet market needs."

The prototype magnetometer and the smart nanobattery are based on fundamental breakthroughs made in the past few years at Bell Labs, using NJNC facilities.

About mPhase Technologies, Inc.

mPhase Technologies Inc. (OTC: XDSL) develops and commercializes next-generation telecommunications and nanotechnology solutions, delivering novel systems to the marketplace that advance functionality and reduce costs. The company, awarded the 2005 Frost & Sullivan Excellence in Technology Award, is bringing nanotechnology out of the laboratory and into the market with a planned innovative long life power cell. Additionally, the company is working on prototype ultra-sensitive magnetometers that promise up to a 1,000-fold increase in sensitivity as compared with available uncooled sensors. More information is available at the mPhase Web site at www.mPhaseTech.com

About Bell Labs

Bell Labs, the R&D division of Lucent Technologies, is the leading source of new communications technologies. It has generated more than 30,000 patents since 1925 and has played a pivotal role in inventing or perfecting key communications technologies, including transistors, digital networking and signal processing, lasers and fiber-optic communications systems, communications satellites, cellular telephony, electronic switching of calls, touch-tone dialing, and modems. Bell Labs scientists have received eleven Nobel Prizes in Physics, nine U.S. National Medals of Science and eight U.S. National Medals of Technology(R). For more information about Bell Labs, visit its Web site at www.bell-labs.com.

About Lucent Technologies

Lucent Technologies (NYSE:LU) designs and delivers the systems, services and software that drive next-generation communications networks. Backed by Bell Labs research and development, Lucent uses its strengths in mobility, optical, software, data and voice networking technologies, as well as services, to create new revenue-generating opportunities for its customers, while enabling them to quickly deploy and better manage their networks. Lucent's customer base includes communications service providers, governments and enterprises worldwide. For more information on Lucent Technologies, which has headquarters in Murray Hill, N.J., USA, visit http://www.lucent.com.

About The New Jersey Nanotech Consortium

The New Jersey Nanotechnology Consortium (NJNC) provides rapid and cost-effective access to world-class nanotechnology research and development services. A subsidiary of Lucent Technologies, based at and run by Bell Labs, the NJNC conducts basic and applied nanotechnology research and provides fabrication and packaging capabilities, fulfilling its mission of bringing nanotech ideas from concept to commercialization. The NJNC is also supported by the State of New Jersey, enabling participation of local research universities including Rutgers University, New Jersey Institute of Technology and The University of Medicine and Dentistry of New Jersey.

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 both companies 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 companies have no control.

Source: Business Wire

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