Local Corporation Granted New Ad Monetization Patent

  Local Corporation Granted New Ad Monetization Patent

 Strengthens Intellectual Property Portfolio and Addresses Online Advertising
                Market Expected to Reach $182 Billion by 2017

Business Wire

IRVINE, Calif. -- June 4, 2014

Local Corporation (NASDAQ: LOCM), a leading local advertising technology
company, today announced that the U.S. Patent and Trademark Office has granted
the company its thirteenth patent, which covers an online advertising
monetization and yield optimization method and/or system.

Issued on May 13, 2014, patent number 8,725,572 is directed to a technique for
locating relevant advertisements through the use of semantic keyword searches
with claims directed to software, systems and methods in which semantically
related keywords may be used to locate relevant fee generating advertisements
that may monetize better than other available response ads.

“We are pleased to expand our robust portfolio of intellectual property with
this latest ad monetization patent,” said Fred Thiel, Local Corporation
chairman and chief executive officer. “The online advertising industry
continues to show strong growth, and we believe that our advertising
technology, in combination with our growing intellectual property portfolio,
will position us well to lead in this sector. We look forward to unlocking the
value of our IP and leveraging this patent to further monetize and optimize
traffic and advertising across our Owned and Operated properties and Network.”

The company now has 13 patents issued, including four patents related to
search/menus, five related to pay-per-call and one focused on local shopping,
with several additional patents still pending. The company is conducting a
comprehensive review of the various advertising models used across the
industry today that may be utilizing this patented yield optimization
technology.

The company recently announced that as part of its patent strategy, it is in
the process of transferring the majority of its issued patents to a dedicated
IP holding subsidiary, which provides a more flexible solution and enables the
company to better leverage the value of its intellectual property.

Additionally, the trial date for the company’s ongoing Fry’s Electronics
patent litigation has been set for July 15, 2014.

According to Borrell Associates, the U.S. online advertising market continues
to grow and is expected to reach $182 billion by 2017.

About Local Corporation

Local Corporation (NASDAQ:LOCM) is a leading local advertising technology
company that connects millions of online and mobile consumers with businesses
and products through a variety of innovative digital advertising solutions.
The company’s patented Krillion® local shopping platform aggregates, localizes
and distributes dynamic, national and regional retail shopping content, from
approximately 120,000 store locations, representing nearly 3 million localized
products. For more information, visit: http://www.localcorporation.com or
http://www.krillion.com. To download the company’s iOS® 7-compatible Havvit™
shopping app, go to: iTunes® (http://bit.ly/1d8Y111).

Forward Looking Statements

This press release contains certain forward-looking statements that are based
upon current expectations and involve certain risks and uncertainties within
the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Words or expressions such as "anticipate," "plan," "will," "intend," "believe"
or "expect'" or variations of such words and similar expressions are intended
to identify such forward-looking statements. These forward-looking statements
are not guarantees of future performance and are subject to risks,
uncertainties, and other factors, some of which are beyond our control and
difficult to predict and could cause actual results to differ materially from
those expressed or forecasted in the forward-looking statements. Key risks are
described in the filings we make with the U.S. Securities and Exchange
Commission. The forward-looking statements in this release speak only as of
the date they are made. We undertake no obligation to revise or update
publicly any forward-looking statement for any reason. Unless otherwise
stated, all site traffic and usage statistics are from third-party service
providers engaged by the company. Traffic and our monetization of that traffic
combine to determine our revenues for any given period. Our traffic volume
alone for a period should not be viewed as demonstrative of our financial
results for such period.

IOS is a trademark or registered trademark of Cisco in the U.S. and other
countries and is used under license.

Contact:

Investor Relations:
LHA
Kirsten Chapman, 415-433-3777
local@lhai.com
or
Media Relations:
Local Corporation
Cameron Triebwasser, 949-789-5223
ctriebwasser@local.com
 
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