mPhase/AlwaysReady to Present at NanoBusiness Alliance in NYC

LITTLE FALLS, NJ--(MARKET WIRE)--May 5, 2008 -- mPhase/AlwaysReady (OTC BB:XDSL.OB - News) announced today that Dr. Fred Allen, President of AlwaysReady, will be making a presentation today at 10:30am at the 7th Annual NanoBusiness Alliance Conference and Exhibition being held at the Marriott Marquis in Times Square NYC.

Dr. Allen will describe the rapid commercialization progress that mPhase/AlwaysReady has made with its lithium-based battery technology.

mPhase announced Friday afternoon that it had successfully fabricated its first ever lithium-based battery that has an almost infinite shelf life.

mPhase/AlwaysReady is a returning 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

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.