Itex Boosts Registration Initiative With New National Sales Director

ITEX Corporation (OTCBB: ITEX), The Membership Trading CommunitySM, a leading marketplace for cashless business transactions in North America, today augmented its management team with veteran executive Douglas A. Dagenais, who assumed the position of National Sales Director with responsibility for increasing member registrations. His record in the industry dates back to 1981, when Dagenais was the first hire at BarterCorp located near Chicago.

We are truly pleased to add Doug Dagenais, a seasoned and respected professional, to our team, said ITEX Corporation CEO Steven White. Doug's sole focus will be to help the ITEX franchise network grow member registrations.

Dagenais brings to ITEX more than twenty years of experience in the barter industry beginning at BarterCorp, which enrolled more than 10,000 members under his guidance and direction. Dagenais personally registered more than 1,000 new clients for BarterCorp and served for 18 years as Senior Executive Vice President of the Oak Brook, Illinois venture.

Prior to his association with ITEX, Dagenais spent six years as a director of Shell Vacations LLC of Northbrook, Illinois, a leading operator of luxury vacation ownership resorts under the Shell Vacations Club name that reported $388 million in revenue in 2006.

CEO White said the Dagenais appointment is the second part of a three-point ITEX strategy to increase new small business members to the existing base of 22,000. Doug's experience is expected to help make our registration program more successful, by bringing a new strategic focus to franchisee sales and registration activities. Additional steps in support of member acquisitions will be announced by ITEX later this month.

Dagenais has a long list of credentials, including the Distinguished Service Award for Sales Management from IRTA (International Reciprocal Trade Association); Illinois Small Business Advocate of the Year and Small Business White House Conference Delegate. Dagenais, a 58-year-old native of Chicago, holds an MBA from Northern Illinois University.

About ITEX: ITEX, The Cashless Marketplace, is a leading marketplace for cashless business transactions in North America. ITEX processes more than $250 million a year in transactions through 22,000 member businesses managed by 95 franchisees and licensees. Member businesses increase sales through an exclusive distribution channel by utilizing the ITEX Dollar 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, Washington.

Contact: Alan Zimmelman 425.463.4017 [email protected]

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