Internet Patents Corporation, Formerly InsWeb Corporation, Announces Special Cash Distribution for $5.00/Share

Internet Patents Corporation

, formerly InsWeb Corporation

, today announced that its Board of Directors has declared a special cash distribution of $5.00 per share on the Company's common stock, for a total distribution payment of approximately $33 million based on the current shares outstanding. "We are pleased to announce the special distribution for our shareholders. We have begun the operation of our new intellectual property-focused company and are excited by the licensing opportunities that we believe are available to us based on our strong portfolio of e-commerce and online insurance distribution patents," said Hussein Enan, Chairman and CEO of Internet Patents Corporation.