August 14, 2007 — mPhase Technologies’ wholly owned subsidiary AlwaysReady, Inc. has named Dr. Fred Allen as Chief Executive Officer. AlwaysReady was created in April 2007 to create shareholder value in mPhase’s leading-edge nanotechnology battery and MEMS based products.

“I am excited by the opportunity to join AlwaysReady, Inc. and to drive the effort to commercialize its smart nanobattery and family of magnetometers,” said Allen. “Our initial focus will be on prototype fabrication to test the functionality of both technologies in select applications. We look forward to building relationships with strategic partners and prospective customers who we believe will benefit from using these revolutionary technologies.”

With 10 patents to his credit, Dr. Allen led the efforts of Engelhard Corp. in New Jersey in a rechargeable lithium-ion battery materials program, as well as the company’s nanotechnology growth initiative. Most recently with his own consultancy, Allen completed a term with a nanotechnology investment firm, Advance Nanotech, as Senior Vice President of Materials. He is also co-founder and Director of the Greater Garden State Nanotechnology Alliance (GGSNA).