SOURCE: mPhase Technologies

November 24, 2008 12:00 ET

New Jersey Technology Council Honors mPhase at Awards Gala

LITTLE FALLS, NJ--(Marketwire - November 24, 2008) - mPhase Technologies, Inc. (OTCBB: XDSL) was recognized in front of a crowd of over 500 technology enthusiasts as a "Company to Watch" last Thursday by the New Jersey Technology Council (NJTC). The annual NJTC Awards Gala took place at the Palace at Somerset Park in Somerset, NJ as a celebration of technological innovation. mPhase/Always Ready was one of only five companies to be honored as a "Company to Watch." 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.

Other companies honored at the NJTC Awards Gala include; PSE&G, L-3 Communications, Ikaria, Advanced Health Media, Billtrust, Binary Tree, The College of New Jersey, Voxware, ImClone Systems, Vapps, Gaia Power Technologies, Angel Medical Systems, LiveLOOK, Roundbox, and Switch2Health.

The NJTC is an organization committed to continue to make New Jersey one of the most significant regions in the country for technological innovation. The Council provides many innovative programs to support the area's technology companies.

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, "It was an honor to take part in the annual NJTC Awards Gala and receive this recognition as a Company to Watch. We appreciate the NJTC's contributions to advancing and commercializing technology in the state of New Jersey and we look forward to the year ahead of us as we introduce our revolutionary technology to both the commercial and military markets."

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™. 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.

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