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ITEX Announces Final Results of Tender Offer

BELLEVUE, Wash. April 20, 2012 North America $4.20 New York City Friday, April 13, 2012

$4.20 $4,505,831

The total number of shares purchased in the tender offer included an additional 72,817 shares purchased pursuant to ITEX’s right to increase the number of shares purchased by no more than 2 percent of its outstanding shares, without amending or extending the tender offer. The shares purchased in the tender offer represent approximately 26.5% of ITEX’s outstanding common stock (including shares of unvested restricted stock) prior to completion of the purchase. ITEX has been informed by the Depositary that, after giving effect to the priority for "odd lots," the final proration factor was approximately 86.6%.

The Depositary will promptly issue payment for the shares validly tendered and accepted for purchase and will return all other shares tendered.

After giving effect to the purchase of shares in the tender offer, ITEX expects to have approximately 2,968,108 shares of its common stock outstanding (including shares of unvested restricted stock).

Questions concerning the tender offer may be directed to Investor Relations at ITEX Corporation at 800-277-9722, extension 4017. 

About ITEX

Bellevue www.itex.com

www.sec.gov

SOURCE ITEX Corporation

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