Vringo, Inc. : VRINGO PROVIDES UPDATE ON I/P ENGINE VS. AOL, GOOGLE ET AL. LITIGATION

  Vringo, Inc. : VRINGO PROVIDES UPDATE ON I/P ENGINE VS. AOL, GOOGLE ET AL.
                                  LITIGATION

    Court Orders Defendants to Respond to I/P Engine's Motion for Ongoing
                          Royalties Within Ten Days

NEW YORK - May 1, 2013 - Vringo, Inc. (NASDAQ: VRNG), a company engaged in the
innovation,  development   and  monetization   of  mobile   technologies   and 
intellectual property, today provided an update on 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.

Earlier today, the U.S. District Court denied Defendants' Motion to Compel the
Deposition of Dr.  Stephen Becker  and for an  Enlargement of  Time to  Oppose 
Plaintiff's Motion for Post-Judgment Royalties.  The Court found no basis  to 
permit further discovery on I/P Engine's Motion for an Award of  Most-Judgment 
Royalties, and ordered Defendants  to respond to the  motion within ten  days. 
The Court also permitted I/P Engine  to file a reply to Defendants'  response 
within five days of the entry of Defendants' response.

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, 2012, the clerk entered the Court's final judgment.

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

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, 2012, 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 has 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 the  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.

Additional Information

The case  is styled  I/P Engine,  Inc. vs.  AOL Inc.  et al.  District  Court 
proceedings are pending in the Eastern District of Virginia, Norfolk Division.
The case number is  2:11cv512RAJ. Appellate proceedings  are pending in  the 
United States Court of  Appeals for the Federal  Circuit. The docket  numbers 
are 13-1307  and 13-1311.  The  court dockets  for  the foregoing  cases  are 
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: the  inability to realize the potential value  created 
by the merger  with Innovate/Protect  for our stockholders;  our inability  to 
raise additional capital to  fund our combined  operations and business  plan; 
our inability to  monetize and recoup  our investment with  respect to  patent 
assets that  we  acquire;  our  inability  to  maintain  the  listing  of  our 
securities on NASDAQ; the potential lack of market acceptance of our products;
our  inability  to  protect   our  intellectual  property  rights;   potential 
competition from other providers  and products; our  inability to license  and 
monetize the patents owned by our  subsidiaries, 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; 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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