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ITEX Corporation Announces Credit Facility Increase

ITEX Corporation (OTCBB:ITEX), a leading marketplace for cashless business transactions in North America, has announced that the credit facility with its primary banking institution had been expanded.

ITEX and U.S. Bank entered into an agreement to increase the maximum loan amount under its revolving credit facility from $1 million to $1.5 million, to lower the interest rate of the facility, to remove certain borrowing base limitations, and to extend the maturity date to November 30, 2009.

Steven White, Chairman and CEO, noted, �ITEX continues to position itself to take advantage of opportunities that may present themselves in the current chaotic financial and difficult business environment. Although there is currently no outstanding balance under this line of credit and we have no immediate plans to use it, we felt it prudent to increase our access to additional capital. We may use the line of credit to finance short term working capital requirements, initiate new revenue-generating projects or to pursue strategic opportunities.�

Timothy J. Flynn, Vice President of Commercial Banking for U.S. Bank, commented, �We are pleased with ITEX's continued financial performance and overall success during the last five years, and look forward to expanding our long-term relationship with ITEX Corporation.�

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