mPhase Invited to Attend World's Leading Nanotechnology Conference

LITTLE FALLS, NJ--(MARKET WIRE)--May 1, 2008 -- Leading nanotechnology development company mPhase/AlwaysReady (OTC BB:XDSL.OB - News) announced that it has been invited to present at the 7th Annual NanoBusiness Alliance Conference and Exhibition May 4-6 at the New York Marriott Marquis in Times Square. The NanoBusiness Alliance is the world's leading nanotechnology trade association.

This is the fourth consecutive year that mPhase will act as a high level participant and sponsor at the three-day event, which is expected to attract hundreds of business leaders, investors, venture capitalists, scientists, engineers, government officials and visionaries who are driving the nanotechnology revolution. AlwaysReady CEO Dr. Fred Allen will be discussing the fast track commercialization path of the revolutionary Smart NanoBattery.

Senator John Kerry, Chairman of the Senate Committee on Small Business and Entrepreneurship, and Congressman Bart Gordon, Chairman of the House Committee on Science and Technology, will be delivering keynote addresses and CNBC is expected to attend the event in search of top nanotechnology companies to feature on live television. Complete event information can be found online at http://www.nanobusiness2008.com.

About mPhase/AlwaysReady Inc.

mPhase Technologies Inc. (OTC BB:XDSL.OB - News), 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.

About The NanoBusiness Alliance

The NanoBusiness Alliance is the industry association for the emerging nanotechnology industry. Through its extensive network of leading startups, Fortune 500 companies, research institutions, non-governmental organizations and public-private partnerships, the Alliance shapes nanotechnology policy and helps accelerate the commercialization of nanotechnology innovations. The NanoBusiness Alliance has offices in Chicago, New York, Connecticut and Washington, DC. For more information, visit http://www.nanobusiness.org.

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.