There's always the option of an ITB release if the problem doesn't shift or reoccurs - the band would have several incisions made into it to 'free-up' the affected area, but that would be a surgical matter for an orthopaedic referral, and a last resort I guess.
However, there must be an underlying issue such as poor pelvic/hip/knee/ankle control during your gait/running causing the ITBS over a long period of time until one day you notice pain. You need assessing by a physio who knows what they're looking for, as unless the underlying cause is identified and addressed (such as poor hip control for one of many examples), you can treat the symptoms all day long but you'll always have the problem re-occur-you'll just be papering over the cracks!!
Check out the following for a list of causes http://www.time-to-run.com/injuries/thebig5/itb.htm
Just been on a course and the tutor mentioned one of his aussie female tri-athletes had a release six-weeks before taking silver at Athens, impressive!
Good luck
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