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UTEK Launches New IP2B(TM) Intellectual Property Management Software
Business Wire
October 17 2005

PLANT CITY, Fla. -- UTEKip Ltd., a subsidiary of UTEK Corporation (AMEX:UTK) (LSE-AIM:UTKA) announces the launch of its new corporate intellectual property management software at the Licensing Executive Society (LES) 2005 Annual Meeting in Phoenix, Arizona. UTEKip is a leader in intellectual property management software for corporations, law firms with significant intellectual property practices and universities.

IP2B(TM) Intellectual Property Management software for corporations and law firms is an easy to use, web-enabled IP client-server management solution. Each client will have access to a private system containing all of the information available on the firm`s intellectual property, including invention data, patent & trademarks records, docketing, documents, and billing information.

IP2B(TM) is a product that serves as a management tool and generates revenue for IP law firms by providing them with a unique suite of tools to enable their clients to strategically analyze their IP portfolios. To view this new product, please visit UTEK`s Booth #306 at LES 2005 beginning October 18, 2005.

About UTEK Corporation

UTEK(R) is a leading, market-driven technology transfer company that enables companies to rapidly acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and then finances the acquisition of external technologies for clients in exchange for their equity securities. This unique process is called U2B(R). In addition to its U2B(R) service, UTEK offers both large and small capitalization companies the tools to search, analyze and manage university intellectual properties. The result is a world of new opportunities to grow and expand your company`s intellectual capital. UTEK has operations in the United States, United Kingdom and Israel. For more information about UTEK, please visit its website at http://www.utekcorp.com.

Forward-Looking Statement

Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as UTEK "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UTEK`s future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of UTEK, and the valuation of UTEK`s investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although UTEK believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, UTEK cannot give any assurance that its expectations will be attained.

Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and UTEK does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

UTEK`s operating results could fluctuate significantly due to a number of factors. These factors include the small number of transactions that are completed each quarter, the value of individual transactions, the timing of the recognition and the magnitude of unrealized gains and losses, UTEK`s dependence on the performance of companies in its portfolio, the possibility that advances in technology could render the technologies it has transferred obsolete, the loss of technology licenses by companies in its portfolio, the degree to which it encounters competition in its markets, the volatility of the stock market and the volatility of the valuations of the companies it has invested in as it relates to its realized and unrealized gains and losses, the concentration of investments in a small number of companies, as well as other general economic conditions. As a result of these and other factors, current results may not be indicative of UTEK`s future performance. For more information on UTEK and for a more complete discussion of the risks pertaining to an investment in UTEK, please refer to UTEK`s filings with the Securities and Exchange Commission.

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