Registered NanoBusiness 2005 Media Invited to mPhase Technologies Breakfast Briefing on Tuesday, May 24

LITTLE FALLS, N.J.--(BUSINESS WIRE)--May 19, 2005--

Bell Labs Executive Joins mPhase CEO Ron Durando in Webcast to Discuss Co-Development of Nano-based Battery and Ultra-Sensitive Magnetometer

mPhase Technologies, Inc. (OTC:XDSL) will host a 7:30 a.m. breakfast briefing Tuesday, May 24, to update the NanoBusiness 2005 media corps on two co-development and commercialization projects with the Bell Labs research and development arm of Lucent Technologies (NYSE:LU)

The companies launched their nanotechnology collaboration last year to bring to market an innovative "smart" battery that capitalizes on a Bell Labs discovery. Earlier this year, mPhase and Bell Labs expanded their relationship to cover a revolutionary design for the manufacture of sensors that are predicted to show a 1,000-fold increase in sensitivity when compared to current-generation magnetometers.

The briefing will be led by Ron Durando, mPhase CEO, and will include Dave Bishop, vice president of nanotechnology at Bell Labs and president of the New Jersey Nanotechnology Consortium (NJNC), as well as Steve Simon, EVP-R&D for mPhase. The event will be available via webcast to be accessible from the mPhase home page, http://www.mphasetech.com .

The mPhase battery now under development is 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. Potential initial applications for this technology may include defense, industrial, healthcare, and consumer electronics. mPhase is also targeting the nanobattery for use in a technically improved, lighter weight battery design.

In March of this year, mPhase and Lucent announced an expansion of their co-development agreement to a new class of sensors, technically referred to as magnetometers, that are based on Micro Electro Mechanical Systems (MEMS). They use designs based on fundamental breakthroughs made in the past few years at Bell Labs using the NJNC facilities. Initial tests of these MEMS magnetometers indicate sensitivities 1000 times those achieved in presently available uncooled magnetometers. Based on MEMS technology, these devices will be small, rugged, and inexpensive and will create a new generation of uncooled ultra-sensitive magnetic field sensors.

About mPhase Technologies, Inc.

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. The company, awarded the Frost & Sullivan Excellence in Technology Award, is bringing nanotechnology out of the laboratory and into the market with a planned innovative long, life power cell. Additionally, the company is working on prototype ultra-sensitive magnetometers that promise a 1,000-fold increase in sensitivity as compared with available sensors. 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 the companies have no control.