UTEK Completes Technology Transfer to Liberty Diversified Holdings, Inc.; Transfer Includes Licenses for New Packaging Technologies.

TAMPA, Fla. & ORANGE, Calif. -- UTEK Corporation (AMEX:UTK) (LSE-AIM:UTK) a specialty finance company focused on technology transfer, and Liberty Diversified Holdings, Inc. (OTCBB:LDHI), a holding company in the printing and packaging industry, announced that Liberty Diversified Holdings, Inc. has acquired Innovative Packaging Technologies, Inc. (IPTI), a wholly owned subsidiary of UTEK Corporation, in a stock transaction.

IPTI contains two licenses for technologies developed by researchers at the University of Arkansas. The first technology is an all-natural, edible antimicrobial packaging film, which has been designed to protect consumers against common food-borne illnesses caused by pathogens such as Salmonella and E. coli. In addition IPTI contains a license for a variable image packaging film that can potentially double the viewable surface area of packaging products by allowing the film to transmit two separate images. A change in the perceived image is accomplished using a series of lenticular lenses to compress areas of an original image and refract them at a specified angular range, achieving a 'flash' effect for customers traveling past the products.

Ronald Touchard, Chief Executive Officer of Liberty Diversified Holdings, Inc., said, "We are enthusiastic about completing the acquisition of Innovative Packing Technologies, Inc. We believe the novel technologies that IPTI contains, combined with a newly planned aggressive marketing approach for MCR and other possible acquisitions in the packing industry will allow us to expand market share at a much faster pace than previously possible."

"UTEK is pleased to consummate this technology transfer with Liberty Diversified Holdings, Inc. and we look forward to continuing our efforts to provide additional technology acquisition opportunities for their consideration," said Jennifer Willis, Manager of Technology Licensing at UTEK Corporation.

About Liberty Diversified Holdings, Inc.

Liberty Diversified Holdings, Inc. is a publicly traded holding company with a core focus in the $433 billion printing and packaging industry. In December 2005 Liberty acquired MCR Printing and Packaging Corp., a 20-year-old company that provides high end printing and packaging services to some of the world's largest companies. MCR has a unique business model (One Stop Shop) in a large and growing international industry and is rapidly expanding into additional high demand, high-profit manufacturing areas. For more information about Liberty Diversified Holdings, Inc., please visit its website at http://www.libertydiversifiedholdings.com.

About UTEK Corporation

UTEK(R) is a specialty finance company focused on technology transfer. UTEK's services enable companies to acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and acquisition of external technologies for clients in exchange for their equity securities. This unique process is called U2B(R). In addition, UTEK offers companies the tools to search, analyze and manage university intellectual properties. UTEK is a business development company with 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 Liberty Diversified Holdings, Inc. "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UTEK's or Liberty Diversified Holdings, Inc.'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 Liberty Diversified Holdings, Inc., 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 Liberty Diversified Holdings, Inc. 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 Liberty Diversified Holdings, Inc. 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 filings with the Securities and Exchange Commission.