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05/06/2008

ITEX Exploring Strategic Alternatives

ITEX Corporation (OTCBB:ITEX), a leading marketplace for cashless business transactions in North America, disclosed that it has retained investment bank Montgomery & Co. as its financial advisor to assist ITEX�s Board of Directors and management in evaluating a range of strategic alternatives and opportunities to enhance shareholder value.

�As our strategic and financial advisor, Montgomery will help us evaluate a range of strategic options and update us regarding prevailing market conditions for mergers and acquisitions,� said Steve White, Chairman/CEO of ITEX.

�ITEX continues to advance and execute well and we believe the time has come to engage an experienced advisor to build on our success. With Montgomery�s strong track-record helping technology companies, we look forward to leveraging their experience to maximize shareholder value,� he concluded.

No timetable has been set for completion of the review, and there can be no assurance that this process will result in any specific strategic or financial transaction. ITEX does not intend to update its progress or disclose developments with respect to potential initiatives unless the Board of Directors has approved a definitive course of action or transaction. 

For more information on ITEX visit http://www.itex.com.

Montgomery & Co. is a provider of merger and acquisition advisory, private placements, and private equity for companies in the media, communications, information technology and healthcare sectors. The firm offers its clients in-depth industry knowledge, financial expertise, access to key relationships and a high degree of customer service.

For more information go to http://www.monty.com.


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