VRINGO ANNOUNCES U.S. DISTRICT COURT DECISION

VRNG breakout before the news was out.

NEW YORK - January 22, 2014 - Vringo, Inc. (VRNG), a company engaged in the innovation, development and monetization of intellectual property and mobile technologies, today announced that the U.S. District Court for the Eastern District of Virginia, Norfolk Division, has issued a Memorandum Opinion and Order related to its wholly-owned subsidiary I/P Engine, Inc.`s patent litigation against AOL, Google et al.

In the Order, the District Court found that Defendants` alleged design-around is "nothing more than a colorable variation of the system adjudged to infringe," and accordingly I/P Engine "is entitled to ongoing royalties as long as Defendants continue to use the modified system."

The District Court deferred ruling on the royalty rate pending the parties` settlement conference that is scheduled for later today before a United States Magistrate Judge.

Background on U.S. District Court Litigation

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.  On November 20, 2012, the clerk entered the District Court`s final judgment.  In an Order dated January 3, 2014, the District Court ordered that I/P Engine recover an additional sum of $17.32 million from Defendants for supplemental damages and prejudgment interest.

The District Court proceedings are pending in the Eastern District of Virginia, Norfolk Division.  I/P Engine and Defendants have appealed the case to the Court of Appeals for the Federal Circuit.  The Appellate proceedings are pending in the United States Court of Appeals for the Federal Circuit.  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.

The United States Patent and Trademark Office is currently considering one request from Google for reexamination of certain claims of one of the asserted patents.  The USPTO has previously upheld the validity of both of the asserted patents.  Documents regarding USPTO proceedings are publicly available on the Patent Application Information Retrieval website, http://portal.uspto.gov/pair/PublicPair.