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ITEX Payment Systems

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Active International

ITEX Reports Transactions, Income, Repurchase Of Shares

The ITEX Corporation (OTCBB:ITEX) announced that New York franchisee John Castoro exceeded $20 million in transaction volume during the past 12 months, earning close to $900,000 in cash fees. CEO Steven White stressed, �Part of our expansion goal is to attract solid performers to become ITEX franchises, while we cultivate our existing independently-owned offices to grow organically.�

February/March Performance Totals:

         Transaction volume of $37,004,000 compared to $23,299,000 in the same period of 2004, a 59% increase.

         Cash deposits of $2,337,000 compared to $1,557,000 in the same period of 2004, a 50% increase.

         Completed transactions comprising 49,112 compared to 28,017 in the same period of 2004, a 75% increase.

         Member businesses totaling 22,000 compared to 13,400 in the same period of 2004, a 64% increase.

On March 23, 2006, the firm repurchased 300,000 shares of common stock from Collins Christensen (former CEO from 1999 to 2001) for 55� per share, or $165,000. The shares were immediately canceled reducing the overall common stock share count to 18,406,132. (Mr. Christensen�s holdings have been reduced to 1,259,130, or 7.3% of the outstanding shares, from a high of 14.3% in May 1999.)