mPhase/AlwaysReady Produces Its First Ever Lithium Based Battery!

LITTLE FALLS, NJ--(MARKET WIRE)--May 2, 2008 -- mPhase/AlwaysReady (OTC BB:XDSL.OB - News) today announced that it has successfully produced its first ever lithium based battery that can be manually activated providing Power on Command(TM) that has an almost infinite shelf life.

The move from low energy density chemistries as demonstrated on April 3rd to a lithium based high energy density chemistry in just 4 weeks demonstrates the speed in which this technology is moving. "This major accomplishment within one month shows clearly that the mPhase/AlwaysReady battery technology is out of the laboratory and clearly into the commercialization phase," said Ronald A. Durando, CEO of mPhase Technologies. He continued, "We could not be happier and look forward to our next milestone date of May 20th when the company is slated to publicly demonstrate its first ever lithium based battery."

mPhase/AlwaysReady is a sponsor and participant in the 7th annual NanoBusiness Alliance Conference and Exhibition, the world's leading nanotechnology trade association, being held in NYC at the Marriott Marquis from May 4th-6th, 2008.

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

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