ROANOKE, Va., Feb. 29 /PRNewswire-FirstCall/ -- Western SizzlinCorporation (Nasdaq: WEST) announced today that it has extended theexpiration date of its exchange offer for all of the outstanding shares ofITEX Corporation (OTC Bulletin Board: ITEX). The offer, which was scheduledto expire at 5:00 p.m., New York City time, on Thursday, February 28, 2008,has been extended until 5:00 p.m., New York City time, on Wednesday, March26, 2008, unless extended. As of the close of business on February 28,2008, approximately 900,174 shares of ITEX common stock had been tenderedthus far into the exchange offer. This press release is for informational purposes only and is neither anoffer to sell nor a solicitation of an offer to buy any securities. Anyexchange offer will be made only through a registration statement andrelated materials. In connection with the exchange offer, Western has fileda registration statement on Form S-4 (containing a prospectus) with theSecurities and Exchange Commission. Investors and stockholders of ITEX areadvised to read these disclosure materials (including other disclosurematerials when they become available) carefully because they contain (andwill contain) important information. Investors and stockholders may obtaina free copy of the disclosure materials and other documents filed byWestern with the Securities and Exchange Commission at the SEC's website athttp://www.sec.gov. A free copy of the disclosure materials and other documents ofWestern may also be obtained from Western upon request by directing suchrequest to the Information Agent, Morrow & Co., LLC, 470 West Avenue,Stamford, CT 06902, E-mail: offer.info@morrowco.com. Banks and brokeragefirms please call: (203) 658-9400. Stockholders call toll free: (800)607-0088. About Western Sizzlin Corporation Western Sizzlin Corporation is a holding company which owns a number ofsubsidiaries. Its most important business activity is conducted throughWestern Sizzlin Franchise Corporation, which franchises and operates 122restaurants in 19 states. Financial decisions are centralized at theholding company level, and management of operating businesses isdecentralized at the business unit level. Western's prime objective is tomaximize its intrinsic business value per share over the long term. Infulfilling this objective, Western will engage in a number of diversebusiness activities to achieve above-average returns on capital in pursuitof maximizing the eventual net worth of its stockholders. Forward-Looking Statements This release contains forward-looking statements relating to WesternSizzlin Corporation's exchange offer for all of the outstanding shares ofITEX Corporation common stock and Western's expectations with regard to theproposed transaction. These forward-looking statements are based onWestern's current intent, expectations, estimates and projections and arenot guarantees of future performance. These statements involve risks,uncertainties, assumptions and other factors that are difficult to predictand that could cause actual results to vary materially from those expressedin or indicated by them. In addition, some factors are beyond Western'scontrol. Factors that could cause actual results to differ materially fromthe statements made in this release include, among others: (i) thewillingness of ITEX stockholders to tender their shares in the exchangeoffer and the number and timing of shares tendered; (ii) the satisfaction,or waiver by Western to the extent legally permissible, of all conditionsto the exchange offer; (iii) Western's and ITEX's ability to receive anyand all necessary approvals, including any necessary governmental orregulatory approvals; and (iv) other factors as described in filings withthe Securities and Exchange Commission, including the factors discussedunder the heading "Risk Factors" in Western's prospectus included in itsregistration statement on Form S-4 as filed with the Securities andExchange Commission on December 27, 2007, and amended on February 1, 2008.
