ITEX Expands National Partnership Team
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Founder of Restaurant.com to lead national partnership strategy BELLEVUE, Wash., Sept. 2 /PRNewswire-FirstCall/ -- ITEX Corporation (OTC Bulletin Board: ITEX), The Membership Trading Community(SM), a leading marketplace for cashless business transactions in North America, today augmented its management team with veteran executive Steve Savad, who assumed the position of Director of National Partnerships. Mr. Savad co-founded Restaurant.com in 1999 and earlier this year departed from day-to-day management. Mr. Savad will lead the strategy in executing cooperative agreements with national companies who have a base of small business clientele. "Steve Savad and I were introduced to each other in January and have shared several motivating conversations on partnership strategies over the past couple months," said ITEX Corporation CEO Steven White. "Steve's energy is contagious. He has a proven record of developing an enterprise and executing high client growth. His talents will be utilized to execute our strategy of partnering with specific organizations to create more members within our trading community." Prior to his association with ITEX, Savad spent nine years building and running Restaurant.com. Through his efforts the Restaurant.com team grew to over 160 people and partnered with more than 8,000 restaurants across the country. In 2007 alone, the company's program helped fill millions of empty tables for the industry. Cameron Johnson, ITEX Business Development Specialist said the Savad appointment will advance ITEX's strategy of adding new small businesses to its existing membership base. "Steve's experience is expected to help make our ITEX member registration program more successful by bringing strategic focus to our efforts to increase member registrations through national partnerships." About ITEX ITEX, The Membership Trading Community(SM), is a thriving network of 24,000 participating member businesses. Members increase sales through an exclusive distribution channel managed by franchisees, licensees and corporate-owned locations, by utilizing ITEX dollars to exchange goods and services. ITEX is powered by ITEX Payment Systems, the leading payment technology platform for processing cashless business transactions. ITEX is headquartered in Bellevue, WA. For more information, please visit ITEX's website at http://www.itex.com. Contact: Alan Zimmelman ITEX Corporation 425.463.4017 firstname.lastname@example.org Budd Zuckerman Genesis Select 303-415-0200 email@example.com This press release contains forward-looking statements that involve risks and uncertainties concerning our expected performance (as described without limitation in the quotations from current management in this release) and comments within the safe harbor provisions established under The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of our future performance. We believe that these potential risks and uncertainties include, without limitation: the continuing development of successful marketing strategies for our concepts; our ability to increase revenues and sustain profitability; the availability of adequate working capital; our dependence both on key personnel and our broker network; and the effect of changes in the overall economy and in technology. Statements in this release should be evaluated in light of these factors. These risk factors and other important factors that could affect our business and financial results are discussed in our periodic reports and filings with the Securities and Exchange Commission, including our Forms 10-K and Forms 10-Q, which are available at http://www.sec.gov., including under the caption, "Management's Discussion and Analysis of Financial Condition and Results of Operations." All information set forth in this release is as of September 2, 2008, and ITEX undertakes no duty to update this information. For more information, please visit http://www.itex.com SOURCE ITEX Corporation Alan Zimmelman of ITEX Corporation, +1-425-463-4017, firstname.lastname@example.org; or Budd Zuckerman of Genesis Select, +1-303-415-0200, email@example.com, for ITEX Corporation
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