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Bob Meyer

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It Was A Great Year For ITEX

The fiscal year for ITEX Corporation (OTCBB:ITEX), the largest trade exchange in North America with a 22,000 membership base, ended July 31, 2006, with the company announcing some very impressive figures:

� Income from operations increased 84% to $1,341,000.

� Operational cash flow was up 118% to $1,836,000.

� Revenue increased 43% to $14,657,000.

� Total net income was $3,433,000, up 2-cents to 18-cents a share (diluted).

� Liabilities decreased 35% to $2,695,000.

� Assets increased to $10,663,000 compared to $9,125,000 in 2005.

� More than $300,000,000 in ITEX dollar transactions were completed by processing approximately 300,000 transactions.

Steven White, Chairman and CEO, noted, �Our strong cash flow allowed us to repurchase 1,050,000 shares of ITEX stock in fiscal 2006, and to prepay a significant portion of the debt associated with the acquisition of BXI.� (Subsequent to the July 2006 fiscal year end, ITEX retired all BXI-related debt, as announced on October 5, 2006.)

For more information on the ITEX Corporation�s report on Form 10-KSB, see: