UPDATE: Court Orders Defendants to Respond to I/P Engine's Motion for Ongoing Royalties by April 18

Vringo (NYSE: VRNG), a company engaged inthe innovation, development and monetization of mobile technologies andintellectual property, today announced that the Court has ruled on post-trialmotions in its wholly-owned subsidiary I/P Engine, Inc.'s litigation againstAOL, Inc., Google, Inc., IAC Search & Media, Inc., Gannett Company, Inc., andTarget Corporation (collectively, "Defendants").  This summary is qualified inits entirety by the Court's rulings.BackgroundOn November 6, 2012, a jury in U.S. District Court in Norfolk, Virginia ruledin favor of I/P Engine and against Defendants with respect to Defendants'infringement of the asserted claims of U.S. Patent Nos. 6,314,420 and6,775,664.  After upholding the validity of the patents-in-suit, anddetermining that the asserted claims of the asserted patents were infringed byDefendants, the jury found that reasonable royalty damages should be based ona "running royalty," and that the running royalty rate should be 3.5%.  Thejury also awarded I/P Engine a total of approximately $30.5 million.  OnNovember 20, 2013, the clerk entered the Court's final judgment.  Thereafter,the parties filed and briefed post-trial motions.I/P Engine's Motion for an Award of Post-Judgment RoyaltiesToday, the Court ordered Defendants to respond to I/P Engine's Motion forPost-Judgment Royalties within fifteen (15) days.  I/P Engine will bepermitted to file a reply to Defendants' response within seven (7) days, atwhich point, the motion will be ripe for judicial determination.I/P Engine presented evidence at trial that the appropriate way to determinethe incremental royalty base attributable to Google's infringement was tocalculate 20.9% of Google's U.S. AdWords revenue, then apply a 3.5% runningroyalty rate to that base.  I/P Engine has requested that the Court order Defendants to pay ongoingrunning royalties for their continuing infringement of I/P Engine's patentsfrom November 20, 2013, the date of the entry of final judgment, until either(i) Defendants cease their infringement or (ii) April 4, 2016, the expirationdate of the patents.I/P Engine argued that the Court should conclude that an upward adjustment toa 5% running royalty rate for Defendants' ongoing post-judgment infringementis appropriate.  I/P Engine's damages expert, Dr. Stephen Becker, also reachedthe conclusion that there is no reason to depart downward from the 5% royaltyrate because the patents are known to be valid and the patented technology isacknowledged to be "mission critical" for Google.Further, I/P Engine argued that Defendants' ongoing infringement isundisputedly willful because Defendants are fully aware that their use ofAdWords has been adjudged to infringe all of the asserted claims of the validand enforceable patents-in-suit.  Therefore, I/P Engine requested that theCourt enhance the ongoing royalty rate to 7% in light of Defendants' ongoingwillful infringement.Finally, I/P Engine requested that this Court order that, among other things,Defendants pay ongoing royalties to I/P Engine on a quarterly basis incertified funds or by wire transfer, accompanied by a statement certifying,under penalty of perjury, the U.S. revenue attributable to Defendants' use ofAdWords and the calculation of the royalty amount.A copy of I/P Engine's motion is available online at http://bit.ly/UPYkFh.Post-Trial Motions for Judgment as a Matter of LawIn orders dated April 2, 2013 and filed today, the Court denied Defendants'Renewed Motions for Judgment as a Matter of Law on (i) Invalidity, (ii)Non-Infringement and (iii) Damages or New Trial.The Court also denied I/P Engine's Motion for a New Trial on the Dollar Amountof Past Damages.  On January 31, 2013, the Court denied I/P Engine's Motionfor a New Trial on Laches.Additional InformationThe case is styled I/P Engine, Inc. vs. AOL Inc. et al., and is pending inU.S. District Court for the Eastern District of Virginia, Norfolk Division. The case number is 2:11cv512RAJ.  The court docket for the case is publiclyavailable on the Public Access to Court Electronic Records website,www.pacer.gov, which is operated by the Administrative Office of the U.S.Courts.About Vringo, Inc.Vringo, Inc. is engaged in the innovation, development and monetization ofmobile technologies and intellectual property.  Vringo's intellectual propertyportfolio consists of over 500 patents and patent applications coveringtelecom infrastructure, internet search, and mobile technologies.  The patentsand patent applications have been developed internally, and acquired fromthird parties.  Vringo operates a global platform for the distribution ofmobile social applications and services.  For more information, visit:www.vringoIP.com.