Executive Privileges Program Enhances Membership Value
BELLEVUE, Wash., April 19 - ITEX Corporation (BULLETIN BOARD: ITEX) , a leading marketplace for cashless business transactions, today announced the beta launch of ITEX Payroll Services, ITEX Job Listings and ITEX Supplemental Travel, key components of its new Executive Privileges Program.
The Executive Privileges Program provides ITEX members exclusive discounts and personalized benefits from selected name-brand businesses. The new program, provided by ITEX at no additional charge to its 22,000 member businesses across North America, complements its core cashless transaction system and further enhances the value of the ITEX Membership Trading CommunitySM.
"We continue to deliver on our goals to provide real value in areas we believe help small businesses succeed," said ITEX Chairman and Chief Executive Officer Steven White. "At the same time, we intend to compliment our primary service of member businesses trading goods and services in cashless transactions using "ITEX dollars," connecting with more customers and saving money in a marketplace they value and trust."
The Executive Privileges Program components announced today include:
- ITEX Payroll Services - giving member businesses access to a
world-class provider of payroll services at discounted member-only
terms.
- ITEX Job Listings - an exclusive online job board, allowing ITEX
Preferred Payment Plan members to distribute employment ads throughout
the Simply Hired Network for only $10 ITEX dollars per ad.
- ITEX Supplemental Travel - enabling ITEX members to book flights,
hotels, cars and cruises at the best available cash rates.
"We believe by adding support services for our business base we will maximize sales effectiveness and increase member registrations, while allowing members to focus on their core responsibilities," said White. "We will continue to announce additional components and features of the Executive Privileges Program over the next several weeks."
The Executive Privileges Program leverages the bargaining power of the 22,000 ITEX businesses, which employ 100,000 individuals, to provide terms and rates that the businesses could not negotiate individually. ITEX will seek to partner with leading businesses to provide more exclusive offers and benefits that complement its cashless transaction system and enhance membership value.
About ITEX
ITEX, the Membership Trading CommunitySM, is a leading marketplace for cashless business transactions in North America. ITEX processes more than $250 million a year in transactions by 22,000 member businesses managed by 95 franchisees and licensees. ITEX member businesses increase sales through an exclusive distribution channel 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, Washington.
For more information, please visit www.itex.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 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-KSB and Forms 10-QSB, which are available at 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 April 19, 2007, and ITEX undertakes no duty to update this information.
CONTACT: Alan Zimmelman of ITEX Corporation, +1-425-463-4017, or alan@itex.com
Web site: www.itex.com/
