Network-1 Extends Its Share Repurchase Program; The Timing And Amount Of Shares Repurchased Will Be Determined By Network‑1's Management Based On Market Conditions And Other Factors.

Network-1 Technologies, Inc. (NYSE:NTIP) announced today that its Board of Directors has extended its previously announced share repurchase program (the "Share Repurchase Program") pursuant to Rule 10b-18 of the Securities Exchange Act, as amended, authorizing Network-1 to repurchase up to $5,000,000 of shares of its common stock over the next two years. To date, Network‑1 has repurchased an aggregate of 9,360,944 shares of its common stock under the Share Repurchase Program since inception of the program in August 2011 at an average price of $1.93 per share or an aggregate cost of approximately $18,085,981 (exclusive of commissions).

The common stock may be repurchased from time to time in open market transactions or privately negotiated transactions in the Network‑1's discretion. The timing and amount of shares repurchased will be determined by Network‑1's management based on its evaluation of market conditions and other factors. The Share Repurchase Program may be increased, suspended or discontinued at any time.

The extension Share Repurchase Program was approved by Network‑1's Board of Directors as part of its ongoing consideration of alternative methods to take advantage of its strong cash position. The Board of Directors believes that the extension of the Share Repurchase Program at this time is in the best interests of Network‑1 and its shareholders and will not impact Network‑1's ability to execute its future plans.