mPhase Technologies CEO Says Frost & Sullivan Excellence in Technology Award Validates Firm's Nanotechnology Leadership

LITTLE FALLS, N.J.--(BUSINESS WIRE)--April 21, 2005--Ronald A. Durando, CEO of mPhase Technologies (OTC:XDSL) today told investors that the Frost & Sullivan Excellence in Technology Award bestowed on mPhase last night validates the company's claim to leadership in the field of nanotechnology-based smart batteries.

In a letter to shareowners, Durando said: "It's very gratifying to see a global consulting company like Frost & Sullivan recognize the strides we have made in only the first year since we began the project to develop the world's first smart battery based on nanostructures. This is a clear validation by an independent third party that mPhase is a world-class contender among companies riding the wave of growth in nanotechnology."

At its Best Practices Awards Banquet in Fort Myers, Fla. on Wednesday, Frost & Sullivan recognized mPhase's creation of the novel battery in collaboration with Bell Labs, the R&D arm of Lucent Technologies (NYSE:LU).

Under a year-old agreement with Bell Labs, mPhase has created a prototype battery based on a Bell Labs discovery that liquid droplets of electrolyte will stay in a dormant state atop microscopic structures called "nanograss" until stimulated to flow, thereby triggering a reaction producing electric current. Future batteries based on this technology have the potential to deliver far longer shelf life and better storage capacity than existing battery technology.

About mPhase

mPhase Technologies Inc. (OTC: XDSL) develops and commercializes next-generation telecommunications and nanotechnology solutions, delivering novel systems to the marketplace that advance functionality and reduce costs. In telecommunications, the Company's mPhase TV+ platform cost-effectively and reliably delivers entertainment digital television, high-speed Internet access and traditional telephone service over existing copper telephone lines. mPhase also offers a growing line of innovative DSL component products, such as the iPOTS, designed to help service providers lower the provisioning and operating costs associated with DSL. The company is bringing nanotechnology out of the laboratory and into the market with a planned innovative, long-life power cell. More information is available at the mPhase Web site 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 in light of current conditions, expected future developments and other factors it believes to be appropriate. Actual results may differ as a result of factors over which management has no control.