mPhase to Conduct Live Demo of Its AlwaysReady Lithium-Based Battery at NanoBusiness Alliance Tomorrow!

LITTLE FALLS, NJ--(MARKET WIRE)--May 5, 2008 -- mPhase/AlwaysReady (OTC BB:XDSL.OB - News) -- mPhase said today that it will be conducting a live demonstration of its first ever mechanically activated lithium-based battery that has an almost infinite shelf life.

The live demonstration will take place at 1:15PM Tuesday, May 6th, 2008 from the mPhase/AlwaysReady Table Top Booth at the 7th Annual NanoBusiness Alliance Conference and Exhibition being held at the Marriott Marquis in NYC.

"Our demonstration tomorrow will show the speed at which this remarkable technology is advancing," said Ronald A. Durando, CEO and President of mPhase. We decided today to give the audience at the NanoBusiness Alliance a sneak preview of our battery technology and its packaging. Originally we had slated May 20th as the next demonstration date for two batteries, one that is mechanically activated and one that is electrically activated, however we have exceeded our expectation on our mechanically activated battery and are happy to show this uniquely packaged lithium battery tomorrow!"

mPhase also said that it will keep its May 20th date for its next milestone, which will be an electronically activated lithium-based battery that has an almost infinite shelf life.

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.