mPhase Selected as a Company to Watch by the New Jersey Technology Council

mPhase/AlwaysReady to Be Honored at NJTC Awards Gala Tonight

mPhase Technologies, Inc. (OTCBB: XDSL) today announced that it was selected by the New Jersey Technology Council (NJTC) as a "Company to Watch" and will be honored tonight at the 2008 NJTC Awards Gala at the Palace at Somerset Park, Somerset, NJ. mPhase/AlwaysReady was selected along with four other New Jersey companies in this new award category. The NJTC Awards Gala honors, celebrates and publicizes New Jersey's top technology companies. Information about the Gala and a list of all companies being honored this year can be seen at: http://www.njtc.org/events/gala2008/honorees.asp.

"The Companies to Watch is an exciting collection of companies we feel will surely continue to make their mark not only in New Jersey but throughout the entire world. As their innovative technologies begin to get the industry recognition they deserve, the NJTC, and likely the finance community, will be watching these companies very closely," quoted NJTC.

As part of the recognition, mPhase/AlwaysReady is featured in NJTC's monthly publication -- New Jersey TechNews (Vol. 12 Issue 8). The publication is available in hardcopy form or may be viewed online at: http://www.njtc.org/interactiveTN/TNoct2008page5.pdf.

mPhase/AlwaysReady is currently developing products based on its Smart NanoBattery, with its proprietary superhydrophobic and electrowettable membrane being used in the multi-cell micro-array reserve battery designed for a US Army computer memory backup application, as well as a manually activated reserve battery with a breakable separator for an emergency light offering potentially infinite shelf-life.

Said mPhase CEO Ron Durando, "This past year we made significant progress in our development of the Smart NanoBattery. We are proud that mPhase has been selected as a Company to Watch by NJTC and important to receive peer recognition. In 2009 we look forward in bringing to fruition military and commercial applications of our breakthrough battery technology."

The NJTC Awards Gala is open to the public. Information about the event and how to register is available on the NJTC website: http://www.njtc.org/events/gala2008/attend.asp.

About mPhase Technologies, Inc. and AlwaysReady, Inc.

mPhase Technologies, Inc. (OTCBB: XDSL) is a development company specializing in microfluidics, microelectromechanical systems (MEMS) and nanotechnology. Through its wholly-owned subsidiary AlwaysReady, Inc., mPhase is focused on commercializing its first nanotechnology-enabled product for military and commercial applications -- The Smart NanoBattery providing Power On Command(TM). Our new well-patented battery technology, based on the phenomenon of electrowetting, offers 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.

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.

About the New Jersey Technology Council

The New Jersey Technology Council (NJTC) provides business support, networking opportunities, information, advocacy and recognition of technology companies and their leaders. Founded in 1996, NJTC's more than 1,200 member companies work together to support their own enterprises while advancing New Jersey's status as a leading technology center in the United States. To learn more about NJTC, visit their website at www.njtc.org.