mPhase/AlwaysReady Successfully Demonstrates Lithium Smart NanoBattery at the NanoBusiness Alliance Conference!

NEW YORK, NY--(MARKET WIRE)--May 6, 2008 -- mPhase/AlwaysReady, Inc. (OTC BB:XDSL.OB - News) stated today that it has successfully demonstrated the manual activation of its revolutionary lithium based Smart NanoBattery in front of a live audience at the 7th Annual NanoBusiness Alliance Conference and Exhibition, the leading nanotechnology trade association, at the Marriot Marquis hotel in Times Square, New York City.

During the demonstration, mPhase/AlwaysReady mechanically activated a lithium pouch based reserve battery, illuminating an LED light in front of a live audience. "This is the first public activation of a prototype containing a lithium based chemistry, a significant development milestone for the company," said AlwaysReady CEO Dr. Fred Allen.

A video of the live demonstration as well as CEO Fred Allen's conference presentation will be available for viewing later this week on www.mPhaseTech.com and on youTUBE.

Source: mPhase Technologies

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"Our confidence in providing a live demonstration of our first mechanically activated lithium based Smart Nanobattery proves the reliability of our Power on Command™ technology. We look forward to our next demonstration on May 20th of our lithium based Smart NanoBattery which will be activated by electrical and electromagnetic means," stated CEO of mPhase Technologies Inc. Ronald A. Durando.

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.

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