AlwaysReady CEO Dr. Fred Allen to Participate in Future of Distributed Power Storage/Batteries Panel

LITTLE FALLS, NJ--(MARKET WIRE)--May 5, 2008 -- mPhase/AlwaysReady (OTC BB:XDSL.OB - News) announced today that Dr. Fred Allen, President and CEO of AlwaysReady, Inc., will be participating in a panel discussion on the "Future of Distributed Power Storage/Batteries," tomorrow from 1:30-2:30 PM at the 7th Annual NanoBusiness Alliance Conference and Exhibition being held at the Marriott Marquis hotel in Times Square, New York City.

Today, mPhase/AwaysReady provided a glimpse of its first-ever mechanically activated lithium-based battery that has a potentially infinite shelf life. mPhase/AlwaysReady will be performing a live demonstration of its lithium-based Smart NanoBattery tomorrow at 1:15 PM at the 7th Annual NanoBusiness Alliance Conference and Exhibition.

mPhase is also set to provide further details of its breakthrough battery technology in a presentation tomorrow at 10:30 AM.

According to Dr. Fred Allen, "New portable electronic devices demand reliable power. Our lithium-based Smart NanoBattery makes sure power is there when you need it with a feature we call Power on Command(TM). Conventional batteries can corrode, discharge or die even before they are used. The Smart NanoBattery doesn't. It has a potentially infinite shelf life until you activate it. There are tremendous commercial and military applications that can benefit from our Smart NanoBattery, ranging from medical and health alert devices, unmanned sensors, emergency flashlights and backup power for cell phones. When other batteries fail, ours will prevail."

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

mPhase/AlwaysReady is a returning sponsor at the 7th Annual NanoBusiness Alliance Conference and Exhibition, hosted by the world's leading nanotechnology trade association, being held in New York City from May 4-6, 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.

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