xG Technology, Inc. Implements Reverse Stock Split, Effective Friday, July 17, 2015

xG Technology, Inc. ("xG" or the "Company")

XGTIW), a developer of patented wireless communications and spectrum sharing technologies, announced that its 1-for-10 reverse split (the "Reverse Stock Split") of its common stock (the "Common Stock") became effective at 5:00 p.m. Eastern Time on Friday, July 17, 2015, and the Common Stock will open for trading on July 20, 2015 on a post-split basis. In connection with the Reverse Stock Split, the CUSIP number for the Common Stock has been changed to 98372A 507. Information to Stockholders Continental Stock Transfer & Trust Company is acting as exchange agent for the Reverse Stock Split and will send instructions to stockholders of record who hold stock certificates regarding the exchange of certificates for Common Stock. Stockholders who hold their shares of Common Stock in brokerage accounts or "street name" are not required to take any action to effect the exchange of their shares following the Reverse Stock Split. Continental Stock Transfer & Trust Company may be reached for questions at (212) 509-4000. More information on the Reverse Stock Split can be found in xG's Form 8-K, which will be filed with the Securities and Exchange Commission on July 20, 2015. Additional information on xG's Reverse Stock Split will be available beginning on or about July 20, 2015 in "Frequently Asked Questions" on the Company's website at www.xgtechnology.com.