Important Notice

This website may contain forward-looking statements.  These statements may be identified by the use of forward-looking
terminology such as the words “expects,” “intends,” “believes,” “anticipates” and other terms with similar meaning
indicating possible future events or actions relating to the business or stockholders of ITEX Corporation (the “Company”).
These forward-looking statements are based on current expectations and assumptions that are subject to risks and
uncertainties that could cause actual results to differ materially. These risks and uncertainties include, among others, the
ability to successfully solicit sufficient proxies to elect the director nominees (the “Nominees”) nominated by David Polonitza
to the Company’s board of directors at the Company’s 2011 Annual Meeting of Stockholders (the “2011 Annual Meeting”),
the ability of the Nominees to improve the corporate governance and performance of the Company and risk factors
associated with the business of the Company, as described in the Company’s Annual Report on Form 10-K for the fiscal
year ended July 31, 201
1, and in other periodic reports of the Company, which are available at no charge at the website of
the Securities and Exchange Commission (“SEC”) at http://www.sec.gov. Accordingly, you should not rely upon forward-
looking statements as a prediction of actual results.

David Polonitza, together with the other Participants (as defined below), intends to make a preliminary filing with the
Securities and Exchange Commission (“SEC”) of a proxy statement and accompanying proxy card to be used to solicit
proxies for the election of its slate of director nominees at the 2011 annual meeting of stockholders of ITEX Corporation
(the “Company”).

THE PARTICIPANTS STRONGLY ADVISES ALL STOCKHOLDERS OF THE COMPANY TO READ THE PROXY STATEMENT WHEN
IT IS AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION.  SUCH PROXY STATEMENT WILL BE AVAILABLE
AT NO CHARGE ON THE SEC'S WEBSITE AT HTTP://WWW.SEC.GOV. IN ADDITION, THE PARTICIPANTS IN THE
SOLICITATION WILL PROVIDE COPIES OF THE PROXY STATEMENT WITHOUT CHARGE UPON REQUEST.  REQUESTS FOR
COPIES SHOULD BE DIRECTED TO THE PARTICIPANTS' PROXY SOLICITOR, INVESTORCOM, INC. AT ITS TOLL-FREE
NUMBER (877) 972-0090 OR VIA EMAIL AT ENHANCEITEX@INVESTOR-COM.COM.

The Participants in the proxy solicitation are anticipated to be David Polonitza, Wayne Jones, Richard Polonitza, Greta
Polonitza, and Kirk Anderson (collectively, the "Participants").

Information regarding the Participants and their affiliates, including their direct or indirect interests in the Company, by
security holdings or otherwise, is contained in the Schedule 13D filed by David Polonitza on M
ay 2, 2012, as amended or
may be amended from time to time (the "Schedule 13D").  The Schedule 13D is currently available at no charge on the
SEC's website at http://www.sec.gov.  As of the date hereof, the Participants and their affiliates collectively own an
aggregate of 208,687 shares of Common Stock of the Company, consisting of the following:  (1) 128,640 shares held
directly by David Polonitza, (2) 71,645 shares held directly by Kirk Anderson, (3) 8,402 shares held directly by Richard and
Greta Polonitza.

This communication is not a solicitation of a proxy, which may be done only pursuant to a definitive proxy statement.
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