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ITEX Applauds Midwest Business Exchange Contributions

ITEX Corporation (OTCBB:ITEX) has recognized Midwest Business Exchange (MBE), based in Kalamazoo, Michigan, for its impressive contributions to the ITEX membership trading community during the last fifteen years.

�Midwest Business Exchange and owner, Jerry Howell, deserve special recognition for being a stellar reciprocal trading partner with ITEX for the last 15 years,� said Steven White, chairman/CEO of ITEX. �With more than $3 million in total transaction volume, MBE is our most active reciprocal partner. MBE�s top spot may get tougher to maintain after our announcement last week that Green Apple Barter has set a goal to provide $2 million in products and services into the trading community.�

Jerry Howell, founder/president of MBE stated: �In a little over two years, Midwest Business Exchange and ITEX have completed over one million dollars of transactions, coming and going. There�s one thing we value more than the ITEX dollar, however. That is our relationship with the many, fine ITEX brokers.�

Howell noted, �The retail landscape has changed dramatically over the last decade. Big box stores, national chains, and the internet have damaged local retailers and their margins have diminished. That�s why exchanges must strive to discover niches, specialties and forge partnerships that were not necessary a decade ago. Working with charities is one way we do this.

�Another such effort is the subsidiary, National Voice Exchange. NVE is remarkably similar to a trade exchange, but the members are radio stations and the currency is a voice credit. This allows stations with a limited number of voice talents to access over a hundred.

�Can we match the goal set by Green Apple? We certainly will make every effort not to MATCH the goal by our colleagues in Pittsburgh but to TOP it! We might even start a challenge; us folks in the Midwest are sensitive to bragging rights. Bring it on Mr. Krane!� he concluded.

�I have known Jerry for close to 20 years,� White reflected, �and appreciate his strong business ethics, loyalty to his client, and great sense of humor. We have a high level of trust and mutual respect for each other based upon years of sound, straight forward business transactions. As we refine our reciprocal partners to just a very select group, I am pleased to count MBE as a cornerstone.�

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