mPhase to Explore Possibility of Rechargeable Smart NanoBattery

Utilization of Advanced Materials Like Graphene to Be Researched

Marketwired

LITTLE FALLS, NJ--(Marketwire -08/23/12)- mPhase Technologies, Inc. (XDSL) said today that it is exploring the capabilities of its Smart NanoBattery to make it rechargeable. The Company believes that subject to the availability of additional capital for Research and Development during the next 12 months, that substantial progress towards a rechargeable version of its Smart NanoBattery can be achieved. The Company has previously announced that it is exploring complementing its Smart NanoBattery with new printing technologies utilizing Graphene and other advanced new materials.

On July 17, 2012, mPhase announced an official agreement to jointly pursue business opportunities with government projects involving the research of Graphene based methods for the ink jet printing of batteries and electronic circuits with a leading Academic Institution located in New Jersey.

The Company's research focus will be to develop an extremely long shelf life battery capable of recharging in a shorter period of time than current rechargeable batteries.

About mPhase Technologies, Inc.

mPhase Technologies is introducing a revolutionary Smart Surface technology enabled by breakthroughs in nanotechnology, MEMS processing and micro fluidics. Our Smart Surface technology has potential applications within drug delivery systems, lab-on-a-chip analytic systems, self-cleaning systems, liquid and chemical sensor systems, and filtration systems. mPhase has pioneered its first Smart Surface enabled product, the mPhase Smart NanoBattery.

In addition to the Smart Surface technology, mPhase recently introduced its first product, the mPower Emergency Illuminator, an award-winning product designed by Porsche Design Studio and sold via the mPower website: http://www.mpowertech.com. More information about the company can be found at http://www.mPhaseTech.com.

Forward-Looking Statements

As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in technology and product development; the Company's ability to execute its business model and strategic plans; and all the risks and related information described from time to time in the Company's SEC filings, including the financial statements and related information contained in the Company's SEC Filing. mPhase assumes no obligation to update the information in this release.

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