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03/04/2008

ITEX Enters �Software As A Service� Market

ITEX Corporation (OTC Bulletin Board: ITEX), a leading marketplace for cashless business transactions in North America, today announced that ITEX Chairman and CEO Steven White is scheduled to give a presentation on Tuesday, March 11, 8:30 AM (PST), at the Montgomery Technology Conference in Santa Monica (CA).

He is expected to discuss ITEX�s current operations and announce the company�s strategy to enter the �Software as a Service� (SaaS) market. The presentation at the Montgomery Technology Conference will be the first opportunity to showcase its new SaaS strategy.

A video replay and copy of the slide presentation will be available on the ITEX web site (www.itex.com), under the Investor Relations section, from the end of the day on March 11 through May 31, 2008.

White stated, �We are pleased to be invited to present the ITEX story to this technology-savvy audience and to announce our entrance into the SaaS market. ITEX has grown revenue 50% since fiscal 2005 and is expected to reach $15,000,000 in fiscal 2008. Operating income has increased on average 25% annually; more than 142% what it was in 2004, exceeding $1,500,000 in fiscal 2007.

�Part of our success is attributed to our dynamic and robust internet based technology platform which has proven to be practical, easy-to-use, efficient and scaleable. For the last couple of years we have enhanced our platform in order to capitalize on a large opportunity for our company�to offer our technology platform, and the many features and benefits it provides, so other businesses may enhance the value proposition and revenue streams for their marketplace or community, while at the same time creating new revenue streams for us.�

White continued, �ITEX launched its internet based platform in 2003, internally named TEAM (Trade Exchange Account Manager). More than just Customer Relationship Management (CRM) software, the platform has payment processing, record-keeping, and billing functionality and provides comprehensive transaction data on 24,000 active members within the ITEX trading community as they complete over 1,000 transactions each business day.

�Our web interface can be customized and branded for a variety of online marketplaces or communities. What makes our platform unique, is its ability to track both cash transactions and those based on non-cash currencies...such as rewards, points, units or other consideration a vendor decides to use.�

Montgomery & Co. is a leading provider of merger and acquisition advisory, private placements, and private equity for companies in the media, communications, information technology and healthcare sectors. The firm has emerged as the premier investment banking alternative for growth companies in the U.S. by offering its clients in-depth industry knowledge, financial expertise, access to key relationships, and a high degree of customer service.


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