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mPhase Technologies Executive Says State Funding for Nanotech Research Necessary As Catalyst for Local Economy

New Jersey Nanotechnology Consortium Provides Means for Small Companies to Participate in Costly Research

MURRAY HILL, N.J.--(BUSINESS WIRE)--Feb. 3, 2005--Continued state funding of projects such as the New Jersey Nanotechnology Consortium (NJNC) will help enable mPhase Technologies (OTC:XDSL) to make significant strides in building a potentially lucrative nanobattery business and creating jobs, a company executive said..

Steve Simon, executive vice president of research and development of mPhase, with operational headquarters in Little Falls, N.J., told attendees at a conference here that although mPhase has currently not received public funds through this program, without state funding for a world-class research facility like NJNC, it would be difficult if not impossible for locally-based innovators like mPhase to pursue modern materials science commercialization. NJNC is a subsidiary of Lucent Technologies (NYSE:LU) based at and run by Bell Labs.

"Public support for a facility that enables us to work alongside world class scientists is the catalyst for our development program," said Simon. "In just one year's time, we have taken a fundamental Bell Labs discovery into a proof of concept stage, and are already consulting with potential users of the nanobattery for such real-world applications as power sources for military sensors. This is a potentially limitless market and bodes well for future jobs right here in New Jersey."

Simon was a speaker at first annual Nanotechnology Conference for members of the academic, business, scientific and technical community in New Jersey. Attendees included members of the New Jersey Economic Development Authority, which has provided funding to the NJNC.

In a collaboration with Bell Labs, which began in March, 2004, mPhase has proven it is possible to fabricate nanotech-based batteries, which can store and generate electric current. The prototype battery 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 electricity. This super-hydrophobic effect of liquids can permit precise control and activation of the batteries on demand.

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.

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.

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