LITTLE FALLS, NJ–(EMWNews – July 22, 2008) – mPhase Technologies, Inc. (OTCBB: XDSL)

today announced that Dr. Fred Allen, President and CEO of its AlwaysReady

Inc. subsidiary, presented the company’s breakthrough Smart Nanobattery

technology at the Nano Renewable Energy Summit held in Denver, Colorado

from July 20-22, 2008.

The Nano Renewable Energy Summit is a gathering of world-renowned experts

at the intersection of renewable energy and nanotechnology, with a specific

focus on the business, commercialization, and economic development

potential of emerging technologies in the renewable energy and

sustainability sectors.

Renewable energy includes all forms of energy that can easily be

replenished, and that are not expected to run out within a measurable

timeframe. Examples are solar, wind, geothermal, and tide energy. Because

climate change and rising oil prices are becoming significant global

concerns, more emphasis and resources are being directed toward renewable

energy research and technology development. mPhase/AlwaysReady seeks to

capitalize on this trend by positioning the Smart NanoBattery as a

complementary power source to the other products and systems in

development. For example, a solar powered device or network of devices may

require reliable battery backup for days that are not sufficiently sunny to

provide adequate power.

mPhase/AlwaysReady was also a top level sponsor and exhibitor at the event

along with other public companies such as Altair Nanotechnology Inc.

(ALTI), Luna Innovations Inc. (LUNA), and FEI Co. (FEIC) to name a few,

symbolizing the significance of the renewable energy market. This Summit

attracts experts at the forefront of the intersection of nanotechnology and

renewable energy, and includes discussions of cleantech, solar energy,

cross-industry collaboration, and current product commercialization

efforts.

Said AlwaysReady CEO Fred Allen, “We are pleased to be a sponsor and

exhibiter of the Nano Renewable Energy Summit. I look forward to

interfacing with the leading industry experts at the conference and

furthering our understanding of how the Smart NanoBattery fits into this

dynamic and growing market.”

More information about the event may be found at

http://nanoenergysummit.org/.

About AlwaysReady, Inc.

AlwaysReady, Inc., a subsidiary of mPhase Technologies, Inc., is a micro

and nanotechnology development company focused on advanced power and

sensing solutions. AlwaysReady designs and develops proprietary technology

by manipulating matter at the scale of atoms and molecules, controlling

properties at the micro- and nanometer levels, and packaging solutions into

products that provide value to customers. The smart battery offers a

revolutionary approach to energy storage and power management.

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.