It Was A Great Year For ITEX

The fiscal year for ITEX Corporation (OTCBB:ITEX), the largest trade exchange in North America with a 22,000 membership base, ended July 31, 2006, with the company announcing some very impressive figures:

• Income from operations increased 84% to $1,341,000.

• Operational cash flow was up 118% to $1,836,000.

• Revenue increased 43% to $14,657,000.

• Total net income was $3,433,000, up 2-cents to 18-cents a share (diluted).

• Liabilities decreased 35% to $2,695,000.

• Assets increased to $10,663,000 compared to $9,125,000 in 2005.

• More than $300,000,000 in ITEX dollar transactions were completed by processing approximately 300,000 transactions.

Steven White, Chairman and CEO, noted, “Our strong cash flow allowed us to repurchase 1,050,000 shares of ITEX stock in fiscal 2006, and to prepay a significant portion of the debt associated with the acquisition of BXI.” (Subsequent to the July 2006 fiscal year end, ITEX retired all BXI-related debt, as announced on October 5, 2006.)