Network-1 Receives Notice of Allowance from US Patent Office for Additional Claims in Cox Portfolio

 Network-1 Receives Notice of Allowance from US Patent Office for Additional
                           Claims in Cox Portfolio

PR Newswire

NEW YORK, July 30, 2013

NEW YORK, July 30, 2013 /PRNewswire/ -- Network-1 Security Solutions, Inc.
(OTC BB: NSSI), a company engaged in the acquisition, development, licensing
and protection of intellectual property, announced today that it had received
a Notice of Allowance from the U.S. Patent and Trademark Office for the patent
application entitled "Method of Using Extracted Features From An Electronic
Work". This notice of allowance means that prosecution is closed for the
patent application and it is allowed for issuance as a patent. The claims in
the granted patent application are generally directed towards methods for
using extracted features from electronic works to identify actions to be
performed including, among others, inserting an advertisement or a link to a
World Wide Web site for a variety of purposes.

The granted patent application, which will issue as a patent in the near
future, is part of the patent portfolio (the "Portfolio") acquired by
Network-1 from Professor Ingemar Cox earlier this year. The Portfolio
includes patents relating to enabling technology for identifying media
content, such as music and videos, and taking further actions to be performed
based on such identification including, among others, the insertion of
advertising and the facilitation of the purchase of goods and services
relating to the uploaded content. Since the acquisition of the Portfolio,
Network-1 has filed 7 additional patent applications relating to the original
specification and anticipates further issuances of additional claims from this
Portfolio.

Dr. Cox is currently Professor and Director of Research at University College
London and Head of its Future Media Group. In connection with the acquisition
of the Portfolio, Dr. Cox provides consulting services to Network-1 with
respect to the acquired patents and the related pending and future patent
applications and assists in Network-1's efforts to develop the patent
portfolio.

ABOUT NETWORK-1 SECURITY SOLUTIONS, INC.

Network-1 Security Solutions, Inc. is engaged in the acquisition, development,
licensing and protection of its intellectual property and proprietary
technologies. Network-1 works with inventors and patent owners to assist in
the development and monetization of their patented technologies. It
currently owns nineteen (19) patents covering various telecommunications and
data networking technologies and technologies relating to document stream
operating systems and the identification of media content. Network-1
currently has sixteen (16) license agreements with respect to its Remote Power
Patent, which include, among others, license agreements with Cisco Systems,
Inc., Cisco Linksys, Inc., Extreme Networks, Inc., Netgear Inc., Motorola
Solutions, Inc., Allied Telesis, Inc., NEC Corporation and several other data
networking vendors. The Remote Power Patent covers the remote delivery of
power over Ethernet networks. The Remote Power Patent was granted by the U.S.
Office of Patents and Trademarks on April 21, 2001 and expires on March 11,
2020.In addition, Network-1 seeks to acquire additional intellectual property
assets and enter into strategic relationships with third parties to monetize
their intellectual property assets.

This release contains forward-looking statements within the meaning of the
"safe harbor" provisions of the Private Securities Litigation Reform Act of
1995. These statements address future events and conditions concerning
Network-1's business plans. Such statements are subject to a number of risk
factors and uncertainties as disclosed in the Network-1's Annual Report on
Form 10-K for the year ended December 31, 2012 including, among others, the
continued validity of Network-1's Remote Power Patent, the ability of
Network-1 to enter into additional license agreements, the ability of
Network-1 to receive significant royalties from its existing license
agreements, the uncertainty of patent litigation, risks related to the
reexamination of Network-1's Remote Power Patent by the United States Patent
and Trademark Office, Network-1's ability to achieve revenues and profits from
its intellectual property or the intellectual property of its strategic
partners, Network-1's ability to execute its strategy to acquire additional
patents or enter into strategic relationships with third parties to license or
otherwise monetize their intellectual property, the continued viability of the
PoE market, future economic conditions and technology changes and legislative,
regulatory and competitive developments. Except as otherwise required to be
disclosed in periodic reports, Network-1 expressly disclaims any future
obligation or undertaking to update or revise any forward-looking statement
contained herein.

Corey M. Horowitz, Chairman and CEO
Network-1 Security Solutions, Inc.
(212) 829-5770



SOURCE Network-1 Security Solutions, Inc.

Website: http://www.network-1.com
 
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