The Board of Directors of ITEX Corp. increased the size of the Board from four to five directors and appointed Mr. Kevin Callan as a Director to fill the resulting vacancy, effective March 8, 2013, with a term expiring at the next annual meeting of stockholders. Mr. Callan will initially serve on each of the Company's Audit, Compensation, and Nominating and Corporate Governance Committees.

Mr. Callan, 57, has been the Executive Director of the Washington State Major League Baseball Stadium Public Facilities District since 2000, and served as the Director of Finance and Administration during the construction phase of Safeco Field. Since 2001 he has served as the Chief Financial Officer of a collection of light manufacturing and distribution companies owned by PT Foley and located in Washington, Oregon and Nevada.