Vringo, Inc. : VRINGO ANNOUNCES RULINGS ON POST-TRIAL MOTIONS IN I/P ENGINE VS. AOL, GOOGLE ET AL.

 Vringo, Inc. : VRINGO ANNOUNCES RULINGS ON POST-TRIAL MOTIONS IN I/P ENGINE
                            VS. AOL, GOOGLE ET AL.

    Court Orders Defendants to Respond to I/P Engine's Motion for Ongoing
                            Royalties by April 18

NEW YORK - April 3, 2013 - Vringo, Inc. (NYSE MKT: VRNG), a company engaged in
the innovation,  development  and  monetization  of  mobile  technologies  and 
intellectual property, today announced that the Court has ruled on  post-trial 
motions in its wholly-owned subsidiary  I/P Engine, Inc.'s litigation  against 
AOL, Inc., Google, Inc., IAC Search & Media, Inc., Gannett Company, Inc.,  and 
Target Corporation (collectively, "Defendants"). This summary is qualified in
its entirety by the Court's rulings.

Background

On November 6, 2012, a jury in U.S. District Court in Norfolk, Virginia  ruled 
in favor of  I/P Engine  and against  Defendants with  respect to  Defendants' 
infringement of  the  asserted  claims  of  U.S.  Patent  Nos.  6,314,420  and 
6,775,664.  After  upholding  the   validity  of  the  patents-in-suit,   and 
determining that the asserted claims of the asserted patents were infringed by
Defendants, the jury found that reasonable royalty damages should be based  on 
a "running royalty," and  that the running royalty  rate should be 3.5%.  The 
jury also  awarded I/P  Engine a  total of  approximately $30.5  million.  On 
November 20, 2013, the clerk entered the Court's final judgment.  Thereafter, 
the parties filed and briefed post-trial motions.

I/P Engine's Motion for an Award of Post-Judgment Royalties

Today, the Court  ordered Defendants  to respond  to I/P  Engine's Motion  for 
Post-Judgment  Royalties  within  fifteen  (15)  days.  I/P  Engine  will  be 
permitted to file a  reply to Defendants' response  within seven (7) days,  at 
which point, the motion will be ripe for judicial determination.

I/P Engine presented evidence at trial  that the appropriate way to  determine 
the incremental  royalty base  attributable to  Google's infringement  was  to 
calculate 20.9% of Google's  U.S. AdWords revenue, then  apply a 3.5%  running 
royalty rate to that base. 

I/P Engine  has requested  that  the Court  order  Defendants to  pay  ongoing 
running royalties for  their continuing infringement  of I/P Engine's  patents 
from November 20, 2013, the date of the entry of final judgment, until  either 
(i) Defendants cease their infringement or (ii) April 4, 2016, the  expiration 
date of the patents.

I/P Engine argued that the Court should conclude that an upward adjustment to
a 5% running royalty rate for Defendants' ongoing post-judgment infringement
is appropriate. I/P Engine's damages expert, Dr. Stephen Becker, also reached
the conclusion that there is no reason to depart downward from the 5% royalty
rate because the patents are known to be valid and the patented technology is
acknowledged to be "mission critical" for Google.

Further,  I/P  Engine   argued  that  Defendants'   ongoing  infringement   is 
undisputedly willful  because Defendants  are fully  aware that  their use  of 
AdWords has been adjudged to infringe all of the asserted claims of the  valid 
and enforceable  patents-in-suit. Therefore,  I/P Engine  requested that  the 
Court enhance the ongoing royalty rate  to 7% in light of Defendants'  ongoing 
willful infringement.

Finally, I/P Engine requested that this Court order that, among other  things, 
Defendants pay  ongoing  royalties to  I/P  Engine  on a  quarterly  basis  in 
certified funds or by  wire transfer, accompanied  by a statement  certifying, 
under penalty of perjury, the U.S. revenue attributable to Defendants' use  of 
AdWords and the calculation of the royalty amount.

A copy of I/P Engine's motion is available online at http://bit.ly/UPYkFh.

Post-Trial Motions for Judgment as a Matter of Law

In orders dated April  2, 2013 and filed  today, the Court denied  Defendants' 
Renewed Motions  for Judgment  as a  Matter  of Law  on (i)  Invalidity,  (ii) 
Non-Infringement and (iii) Damages or New Trial.

The Court also denied I/P Engine's Motion for a New Trial on the Dollar Amount
of Past Damages. On  January 31, 2013, the  Court denied I/P Engine's  Motion 
for a New Trial on Laches.

Additional Information

The case is styled  I/P Engine, Inc. vs.  AOL Inc. et al.,  and is pending  in 
U.S. District Court for  the Eastern District  of Virginia, Norfolk  Division. 
The case number is 2:11cv512RAJ. The  court docket for the case is  publicly 
available  on  the  Public  Access   to  Court  Electronic  Records   website, 
www.pacer.gov, which  is operated  by the  Administrative Office  of the  U.S. 
Courts.

About Vringo, Inc.

Vringo, Inc. is  engaged in  the innovation, development  and monetization  of 
mobile technologies and intellectual property. Vringo's intellectual property
portfolio consists  of  over  500 patents  and  patent  applications  covering 
telecom infrastructure, internet search, and mobile technologies. The patents
and patent  applications have  been developed  internally, and  acquired  from 
third parties.  Vringo operates  a global  platform for  the distribution  of 
mobile  social  applications  and  services.  For  more  information,  visit: 
www.vringoIP.com.

Forward-Looking Statements

This  press  release  includes   forward-looking  statements,  which  may   be 
identified by words such as "believes," "expects," "anticipates," "estimates,"
"projects,"  "intends,"  "should,"  "seeks,"  "future,"  "continue,"  or   the 
negative of  such  terms,  or other  comparable  terminology.  Forward-looking 
statements are statements that are not historical facts. Such forward-looking
statements are subject to  risks and uncertainties,  which could cause  actual 
results to  differ materially  from the  forward-looking statements  contained 
herein. Factors that could cause actual results to differ materially include,
but are not  limited to: our  inability to license  and monetize our  patents, 
including the outcome of the litigation against online search firms and  other 
companies; our inability to monetize and recoup our investment with respect to
patent assets that  we acquire;  our inability  to develop  and introduce  new 
products  and/or   develop  new   intellectual  property;   new   legislation, 
regulations or court rulings related to enforcing patents, that could harm our
business and operating results; the  inability to realize the potential  value 
created by the merger with  Innovate/Protect for our stockholders;  unexpected 
trends  in  the  mobile  phone  and  telecom  infrastructure  industries;  our 
inability to  raise additional  capital to  fund our  combined operations  and 
business plan; our inability  to maintain the listing  of our securities on  a 
major securities  exchange; the  potential lack  of market  acceptance of  our 
products; potential  competition  from  other  providers  and  products;  our 
inability to retain key  members of our management  team; and other risks  and 
uncertainties and other  factors discussed from  time to time  in our  filings 
with the  Securities and  Exchange Commission  ("SEC"), including  our  annual 
report on Form 10-K filed  with the SEC on  March 21, 2013. Vringo  expressly 
disclaims any  obligation to  publicly update  any forward-looking  statements 
contained herein, whether  as a result  of new information,  future events  or 
otherwise, except as required by law.

Contacts

Investors and Media:
Cliff Weinstein
Executive Vice President
Vringo, Inc.
646-532-6777
cweinstein@vringoinc.com

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Source: Vringo, Inc. via Thomson Reuters ONE
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