Drug delivery system discussions between mPhase Technologies, Inc. and major European Drug Company

mPhase Technologies, Inc. (OTCBB: XDSL) reported today that it has commenced the discussion of its drug delivery system with a major European Drug Company. The discussions were arranged through mPhase's continuing relationship with Invest In France, an agency of the French government.

The Drug Company is a member of the Grenoble Technology Cluster known as Minalogic. The Cluster consists of government, corporate and educational members that are engaged in high technology research in the leading scientific disciplines such as micro- and nano-technologies and embedded systems on chips. Minalogic recently received the highest rating for cluster-management excellence from the European Union.

The Company first visited the Cluster in March of 2012 after the relevant agencies reviewed mPhase's patent portfolio. mPhase is now actively continuing discussions with potential large strategic partners seeking to use the Company's Smart Surface intellectual property. It is anticipated that upon the establishment of such a strategic partnership, research would continue at one of the Cluster's laboratory facilities at Grenoble, France.  The partnership would include a strategic sponsoring partner that would provide funding and target and custom tailor mPhase's Smart Surface Technology to be used in a commercial product. All potential strategic partners are currently members of the Cluster.

The scientific focus and interest is based upon the ability of mPhase's Smart Surface technology to electronically control the precise flow of a fluid on a nano-structured surface. The technology has the potential capability of delivering controlled dosages of drugs needed and prescribed for an individual.

About mPhase Technologies, Inc.

mPhase Technologies is a leading nanotechnology innovator in Smart Surfaces. Potential applications include energy storage systems, drug delivery 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, in collaboration with  Porsche Design Studio, has developed a world class automotive jump starter. More information about the company can be found at http://www.mPhaseTech.com.