SOURCE: ITUS Corporation

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March 16, 2015 07:00 ET

ITUS Subsidiary Enters Into Settlement Agreement With Woodgrain Millwork and The Windsor Window Company

LOS ANGELES, CA--(Marketwired - March 16, 2015) - ITUS Corporation ("ITUS") (OTCQB: ITUS), a company that builds and protects innovation, today announced that its wholly owned subsidiary, J-Channel Industries Corporation ("JCIC"), has entered into a settlement agreement with Woodgrain Millwork, Inc. and The Windsor Window Company, Inc., in connection with JCIC's patented J-Channel Window Frame Construction technology. 

Robert Berman, ITUS's President and CEO, stated, "Despite being hampered by a very crowded Court docket in the Eastern District of Tennessee, we have now entered into 31 J-Channel agreements since we started this assertion campaign back in August of 2013. The remaining defendants from our lawsuits are Clayton Homes, the leading manufactured and modular home manufacturer in the U.S., and its supplier Kinro Manufacturing, which is owned by Clayton. About a month ago, the Tennessee District Court entered its Scheduling Order, allowing for the remaining lawsuits to proceed, and a claims construction hearing is currently scheduled for July 14, 2015."

The Agreement resolves a patent infringement lawsuit, which will be dismissed.

About ITUS Corporation
ITUS develops and acquires patented technologies for the purposes of patent monetization and patent assertion. The company currently has 8 patent portfolios in the areas of Key Based Web Conferencing Encryption, Encrypted Cellular Communications, Nano Field Emission Display ("nFED"), Micro Electro Mechanical Systems Display ("MEMS"), J-Channel Window Frame Construction, VPN Multicast Communications, Internet Telephonic Gateway, and Enhanced Auction Technologies. Additional information is available at www.ITUScorp.com.

Forward-Looking Statements: Statements that are not historical fact may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical facts, but rather reflect ITUS Corporation's current expectations concerning future events and results. We generally use the words "believes," "expects," "intends," "plans," "anticipates," "likely," "will" and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, those factors set forth in "Item 1A - Risk Factors" and other sections of our Annual Report on Form 10-K for the fiscal year ended October 31, 2014 as well as in our Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this press release.

ITUS Corporation - BUILDING & PROTECTING INNOVATION™

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