PRESS RELEASE

For additional information, contact

Kathy Brailer, (301) 419-3900

March, 12 2004 Email: kbrailer@spherix.com

FEDERAL RETIREMENT THRIFT INVESTMENT BOARD SELECTS

SPHERIX TO PROVIDE PARALLEL CALL CENTER

FOR IMMEDIATE RELEASE:

BELTSVILLE, MD. Spherix Incorporated (NASDAQ/SPEX), today announced that the Federal Retirement Thrift Investment Board (FRTIB) has selected Spherix to provide parallel call center support services to the Thrift Savings Plan (TSP) for Federal employees. The new call center will complement current services provided by the Department of Agriculture’s National Finance Center in New Orleans, Louisiana.

The parallel call center will initially handle 20% of the current call volume and eventually handle 50% of all TSP phone traffic. A key element of the future operating plan is for each center to provide disaster recovery relief for the other. The parallel call center will therefore provide coverage of all calls in the event of a hurricane or other emergency that affects the NFC call center operations.

The TSP is a retirement savings plan for Federal civilian employees and members of the uniformed services which is similar to the 401(k) plans offered by many private employers. It was created by the Federal Employees’ Retirement System Act of 1986. As of February 29, 2004, TSP assets totaled approximately $133 billion, and retirement savings accounts were being maintained for more than 3.2 million TSP participants.

“We are extremely pleased to have been selected by the FRTIB to operate this parallel call center for its Federal employees’ Thrift Savings Plan,” said Thomas Gantt, President and CEO. “This multi-million dollar, multi-year effort will add 60 employees to our Cumberland facility and has the potential to grow significantly larger over the life of the project.”

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Certain statements contained herein are “forward looking” statements as defined in the Private Securities Litigation Reform Act of 1995. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied. Factors that could cause actual results to differ materially from those expressed or implied include, but are not limited to, those discussed in filings by the Company with the Securities and Exchange Commission, including the filing on Form 8-K made on March 3, 1999.

Under its motto, “A World of Solutions,” Spherix’s mission is to create value and increase shareholder wealth through innovations that benefit our clients and the human condition. Spherix offers innovations in information technology, knowledge management, and biotechnology.

Our Internet address is http://www.spherix.com.

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