LITTLE FALLS, NJ - July 12, 2011 (Investorideas.com Newswire) - mPhase Technologies, Inc. (OTC.BB: XDSL) held a Special Meeting of Shareholders on Wednesday, June 29, 2011 at 10:00 A.M. at 587 Connecticut Avenue, Norwalk, Ct. 06854. At the meeting, shareholders approved an amendment to the company's certificate of incorporation, authorizing an increase of 4 billion shares of common stock. A PowerPoint presentation given at the meeting explaining mPhases' bio inspired smart surface technology is now available for review on the mPhase website. http://www.mphasetech.com/Reconstruction_investor.html.

About mPhase Technologies, Inc.

mPhase Technologies is introducing a revolutionary Smart Surface technology enabled by breakthroughs in nanotechnology, MEMS processing and microfluidics. 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.

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.

Contact:

973-256-3737

mPhase Technologies, Inc.

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