Vringo, Inc. : VRINGO ANNOUNCES RULING IN I/P ENGINE LITIGATION

       Vringo, Inc. : VRINGO ANNOUNCES RULING IN I/P ENGINE LITIGATION

NEW YORK - August 16, 2013 - Vringo, Inc. (NASDAQ: VRNG), a company engaged in
the innovation,  development and  monetization  of intellectual  property  and 
mobile technologies, today announced the District Court has issued a ruling on
its wholly-owned  subsidiary  I/P  Engine,  Inc.'s  Motion  for  an  Award  of 
Post-Judgment Royalties in its litigation against AOL, Inc., Google, Inc., IAC
Search  &  Media,  Inc.,  Gannett   Company,  Inc.,  and  Target   Corporation 
(collectively, "Defendants").

The District Court's Memorandum Opinion  and Order (the "Order") is  available 
online at http://bit.ly/1bDBHNk, and the following summary is qualified in its
entirety by the full text of the Order.

In the Order, the District Court found that I/P Engine is entitled to an award
of a  post-judgment royalty,  and that  additional discovery  and briefing  is 
necessary to determine the precise amount of the royalty.

The District Court noted that at trial, I/P Engine introduced expert testimony
that starting in  the Fourth  Quarter of  2007, the  infringing components  of 
Google's SmartAds  system added  20.9% to  Google's U.S.  AdWords revenue  and 
additional evidence  is  in  the  record  to  support  this  position.  While 
Defendants continue to contest the use  of this royalty base, the Court  noted 
that it will not re-litigate  this question, and held  that it will apply  the 
20.9% royalty base to determine the proper ongoing royalty.

The District Court ordered Defendants to pay the ongoing royalty to I/P Engine
on a quarterly basis by wire transfer or other certified means of receipt, and
certify by penalty of perjury the U.S. revenue attributable to Defendants' use
of AdWords in U.S. Dollars and the calculation of the royalty payment.

To resolve the ongoing  royalty rate and duration  for which the royalty  rate 
shall be received, the  Court set forth the  following discovery and  briefing 
schedule:

  *August 25, 2013  - The  parties must  produce any  documents relevant  for 
    determining whether "New AdWords" is no more than a colorable variation of
    the adjudicated product.

  *September 25, 2013 - Expert witness reports due.

  *October 15, 2013 - Expert rebuttal reports due.

  *October 30,  2013  - The  parties  shall serve  and  file briefs  and  any 
    supporting evidence.

  *November 10, 2013 - The parties may file responsive briefs.

  *Evidentiary Hearing - The Court, if necessary, may schedule an evidentiary
    hearing in which the  parties may present  appropriate evidence and  offer 
    arguments in support.

The District Court also held that the parties should be given the  opportunity 
to set their own royalty rate before the Court imposes one. To that end,  the 
District Court ordered that within five days of completing the  aforementioned 
discovery and briefing schedule, the parties meet and negotiate an appropriate
ongoing royalty rate, using 20.9% of U.S. AdWords revenues as the  appropriate 
royalty base. If the parties are unable to come to an agreement, the District
Court further ordered that the  parties schedule a settlement conference  with 
the United States Magistrate Judge assigned to the case no later than December
1, 2013.

                                  Background

On November 6, 2012, a jury in U.S. District Court in Norfolk, Virginia  ruled 
in favor  of  I/P  Engine and  against  the  defendants with  respect  to  the 
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  patents were  infringed by  the 
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, excluding
interest. On November 20, 2012, the clerk entered the District Court's  final 
judgment.

On August 1, 2013,  the District Court  found that I/P  Engine is entitled  to 
supplemental damages from October  1, 2012 to  November 20, 2012;  prejudgment 
interest from  September 15,  2011  to November  20, 2012;  and  post-judgment 
interest for Defendants' infringement. The  District Court held that it  will 
determine the amounts for each of the foregoing.

I/P Engine and Defendants have appealed the  case to the Court of Appeals  for 
the Federal Circuit. Defendants filed their opening brief on July 22,  2013. 
I/P Engine's brief is due on September 3, 2013.

Google has submitted requests to the United States Patent and Trademark Office
(the "USPTO") for ex parte reexamination of certain claims of the two asserted
patents. On July 24,  2013, the USPTO  issued a notice that  it will issue  a 
certificate confirming that all of the claims in the '420 patent challenged by
Google remain  valid  and  unchanged.  The '664  patent  remains  subject  to 
reexamination.

The court dockets for the cases are publicly available on the Public Access to
Court Electronic Records website,  http://www.pacer.gov, which is operated  by 
the Administrative  Office  of  the  U.S. Courts.  The  U.S.  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. Documents  regarding the USPTO  proceedings 
are  publicly  available  on  the  Patent  Application  Information  Retrieval 
website, http://portal.uspto.gov/pair/PublicPair.

About Vringo, Inc.

Vringo, Inc. is  engaged in  the innovation, development  and monetization  of 
intellectual property and mobile technologies. 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;  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 NASDAQ;  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 for the year ended December 31, 2012 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
HUG#1723557
 
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