Broadcast International, Inc. and UTEK Corporation Announce Strategic Alliance Agreement.

SALT LAKE CITY & PLANT CITY, Fla. -- Broadcast International, Inc. (OTCBB:BCST), an integrator of video-powered business solutions, and UTEK Corporation (AMEX:UTK) (LSE-AIM:UTKA), an innovative technology transfer company, announced today the signing of a strategic alliance agreement.

Rodney Tiede, Chief Executive Officer of Broadcast International, Inc. said, "We are very pleased to retain UTEK to help identify proprietary technology acquisition opportunities. Broadcast International is committed to offering our clients exceptional service with integrity and we believe our alliance with UTEK will allow us to continue providing such service through the acquisition of proprietary technologies compatible with its CodecSys initiative."

"UTEK looks forward to working with Broadcast International to identify potential technology acquisition opportunities that fit its strategic vision," commented Clifford M. Gross, Ph.D., Chief Executive Officer.

Through its strategic alliance agreements, UTEK assists companies in enhancing their new product pipeline with the acquisition of proprietary intellectual capital from universities and laboratory research centers. Strategic alliance agreements are generally cancelable by either party with thirty days advance written notice.

About Broadcast International, Inc.

Broadcast International is a leading provider of video-powered business solutions, including IP and digital satellite, Internet streaming, and other types of wired/wireless network distribution. In addition, Broadcast International assists clients with video production, rich media development and a full range of network support services. Broadcast International also possesses a patented technology, CodecSys, which provides enhanced video at current bandwidths or reduce the cost of bandwidth while maintaining quality. For more information about Broadcast International, please visit its website at http://www.brin.com.

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. 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 Statements 

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 or Broadcast International "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UTEK's or Broadcast International'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 or Broadcast International, as appropriate, and the valuation of UTEK's investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although UTEK and Broadcast International believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their 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 both UTEK and Broadcast International do 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 filing with the Securities and Exchange Commission.