IMX Wins Patent Trial Against LendingTree; Jury Rules in Favor of IMX, Awards More Than $5.7 Million in Damages

Business Wire, Jan 24, 2006

HOUSTON -- IMX, Inc., a leading provider of technology solutions for the mortgage industry, today announced that it has received a favorable jury verdict in its intellectual property case against LendingTree, LLC in the U.S. District Court of Delaware, finding willful infringement of U.S. Patent No. 5,995,947. The patent provides an Internet-accessible, interactive, real-time network whereby borrowers and lenders exchange information in the pursuit of securing a loan.

"We are very pleased with the verdict," said Michele Buschman, acting CEO of IMX. "We've maintained all along that LendingTree infringes this patent. While we would have preferred to settle the issue out of court, we are extremely satisfied that the validity of this key technological innovation has been upheld."

IMX was awarded $5,794,400 in damages and the company anticipates that the Court will issue an injunction to stop LendingTree's infringement.

IMX was represented by DLA Piper Rudnick Gray Cary US LLP.

About IMX, Inc.

IMX, Inc., based in Houston, Texas, is a leading provider of software solutions for the mortgage industry. IMX offers a comprehensive suite of workflow tools that enable mortgage lenders and originators to communicate and conduct business quickly and efficiently, online. All the Company's products deliver real-time, fully-adjusted pricing to any user with browser access.

IMX is dedicated to helping mortgage professionals apply the efficiencies of Internet technology to their already-existing daily business processes. IMX's innovative and patented pricing technology delivers unmatched product discovery for brokers and retail branches, and advanced web-enabled distribution channels for lenders. For more information about IMX, please visit www.imx.com or call (800) 401-4639.