SOURCE: ITUS Corporation

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November 03, 2014 07:00 ET

ITUS Subsidiary Resolves 15 J-Channel Patent Infringement Disputes

MELVILLE, NY--(Marketwired - November 03, 2014) - ITUS Corporation ("ITUS") (OTCQB: ITUS), a company that builds and protects innovation, today announced that its wholly owned subsidiary, J-Channel Industries Corporation ("JCIC"), entered into a settlement and/or license agreement with 15 companies that are extruders, manufacturers, and/or retailers of vinyl windows with JCIC's patented J-Channel Window Frame Construction technology. The companies include American Builders & Contractors Supply Co., Inc. (ABC Supply), Deceuninck North America, LLC, VEKA, Inc., L.B. Plastics, Inc., Chelsea Building Products, Inc., Moss Supply Company, Vinylmax, LLC, Wincore Window Company, LLC, Associated Materials, LLC, Comfort View Products, LLC, Croft, LLC, Magnolia Windows & Doors, LLC, MGM Industries, Inc., Sun Windows, Inc., and West Window Corporation. JCIC has now entered into 29 settlement and/or license agreements with respect to its patented J-Channel Window Frame Construction technology.

Robert Berman, ITUS's President and CEO stated, "We ended our fiscal year with a flurry of J-Channel activity, which is a testament to the skill, dedication, and hard work of our team. Of the 27 patent infringement lawsuits originally filed in connection with our patented J-Channel technology, 24 lawsuits have now been resolved. The current number of settlements and/or licenses for our J-Channel technology exceeds the original number of lawsuits, because in certain instances, companies that were not defendants in our lawsuits have requested licenses."

The agreement resolves 10 patent infringement lawsuits that were filed by JCIC in the fall of 2013, 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 10 patent portfolios in the areas of Key Based Web Conferencing Encryption, Encrypted Cellular Communications, E-Paper® Electrophoretic Display, Nano Field Emission Display ("nFED"), Micro Electro Mechanical Systems Display ("MEMS"), Loyalty Conversion Systems, 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, 2013 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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