Vringo CEO Offers Letter to Holders: Says Will File Petition to Rehear I/P Engine's Case

Vringo, Inc.

, a company engaged in the innovation, development and monetization of intellectual property, today released a letter from Andrew D. Perlman, Chief Executive Officer, to shareholders. October 7, 2014 Dear Fellow Shareholders, The management team at Vringo is focused on restoring shareholder value and investor confidence.  We continue to seek royalties from companies that use our intellectual property, and we remain confident in our business strategy.  As of the end of the third quarter, we had $26.5 million in current assets, which consist of cash, and bonds paid into courts, to support our execution of that strategy. Last month, the Court of Appeals for the Federal Circuit issued a split 2-1 decision in our subsidiary I/P Engine's case against Google and others.  We believe that the District Court judge, jury, and dissenting appellate judge -- as well as the U.S. Patent and Trademark Office -- were correct when they upheld the validity of our patents.  We have engaged David Boies, chairman of Boies, Schiller & Flexner LLP, to join our appellate counsel Joseph R. Re of Knobbe Martens Olson & Bear LLP, as well as our trial counsel at Dickstein Shapiro LLP, in seeking further review of the appellate panel's split decision. Next week, on October 15th, we will file a petition for the Federal Circuit to rehear the case en banc.  Other parties who support our position may file amicus curiae, also known as "friend of the court", briefs by October 22nd. On September 2nd, we issued a press release updating shareholders on events in our litigations against ZTE, ASUS, Google, and other defendants. Since September 2nd, the following litigation events have occurred: o In India, the court continued hearing Vringo's motions for contempt.  These motions stem from Vringo's assertion that ZTE failed to comply with orders previously issued by the Indian court in both of Vringo's infringement actions against ZTE.   Vringo has also asked the court to order ZTE to deposit additional security. The court's rulings on Vringo's contempt motions are pending.   o In the Netherlands, the court held a hearing on ZTE's request for a preliminary injunction against Vringo, seeking, among other things, the release of certain ZTE products currently detained under Dutch law.  We are currently awaiting the court's ruling, which we expect in late October.   o In the United States, in the Southern District of New York, Vringo filed a motion seeking an early determination of Vringo's claim against ZTE for breach of the parties' non-disclosure agreement, entered into in December 2013 in advance of settlement discussions.  Vringo is seeking compensatory and punitive damages, as well as preliminary and permanent injunctions, against ZTE. We have several important events currently scheduled to occur in the fourth quarter of 2014.  In the United Kingdom, on October 27th, the first of two trials on liability in our case against ZTE is scheduled to begin.  In Germany, on November 21st, the court is scheduled to hear our motion alleging that ZTE failed to comply with the accounting ordered by the court pursuant to the injunction granted against ZTE in December 2013. In Spain, on November 25th, the oral hearing in our case against ASUS is scheduled to be held.  In Germany, on November 27th, the oral hearings in our cases against ZTE and ASUS are scheduled to be held. In France, on December 8th, the trial on liability in our case against ZTE is scheduled to be held.  We look forward to keeping investors updated with the results of these trials. In addition to the Google, ZTE and ASUS litigations, in the last year, we have successfully licensed a number of companies in the remote monitoring/security industry and will continue to seek to license our patents in this technology area.  A common industry practice is that parties agree to keep the terms of licenses confidential, which is the case in each of these agreements. We have received numerous inquiries from investors regarding what we believe to be false and misleading statements about the company that are circulating on internet forums, blogs and message boards. We encourage our shareholders to rely on information from credible sources, most notably our public filings and press releases. Sincerely, Andrew D. Perlman Chief Executive Officer