ITEX Sets 25-Year Sales Record On 28-Day Operating Cycle

ITEX Corporation (OTCBB:ITEX) has announced the results of its most recent operating cycle, ending December 20, 2007. With thirteen 28-day operating cycles each fiscal year, December is traditionally the company’s best cycle of the fiscal year.

A number of company records were set during this recent operating cycle (all numbers are unaudited) including:

·         $26,578,884 in business to business combined transaction volume (CTV).

·         Six licensees surpassed the $1 million dollar CTV level.

·         The number-one office was a Southern California franchise, which topped $1.7 million...triple their CTV for the same period in 2006.

·         22 offices set personal records; exceeding their CTV for any previous period.

·         ITEX cash billings topped $1.6 million for the period.

“Our three company-owned stores (San Francisco, Chicago and Cleveland) doubled their CTV compared to the first billing cycle after their acquisition just 5 months ago,” noted Steven White, Chairman and CEO. “This is a positive sign that our initiatives and integration have taken a strong foothold.

“We are very pleased with the depth and breadth of the growth achieved. Growth occurred on many levels at a large number of our offices,” he continued. “Our high level of transaction volume translates into increased cash transaction fees, another shared reward of our efforts.

“Although the operating cycle just preceding the Christmas holiday is generally our highest, we hope to continually set additional records throughout the remaining portion of our fiscal year. These numbers are not necessary indicative of our performance for the quarter or the year, but we do believe they indicate that we are gaining traction with our strategic initiatives.”

For more information on ITEX go to www.itex.com.