UTEK Corporation Completes Technology Transfer with Cyberlux Corporation.

Transfer Includes Worldwide License for Technology to Create Improved Light Emitting Diodes 

TAMPA, Fla., DURHAM, N.C. & TROY, N.Y. -- UTEK Corporation (AMEX:UTK) (LSE-AIM:UTK), a specialty finance company focused on technology transfer, and Cyberlux Corporation (OTCBB:CYBL), a provider of LED lighting solutions, today announced that Cyberlux has acquired SPE Technologies, Inc. a wholly owned subsidiary of UTEK Corporation in a restricted stock transaction.

Prior to the Cyberlux acquisition, SPE Technologies, Inc. held the worldwide exclusive license to a number of pending patents for the Scattered Photon Extraction[TM] (SPE) methodology, developed at Rensselaer Polytechnic Institute. These packages are designed to enable higher luminous efficacy with down-converted white light illuminators constructed with Light Emitting Diodes (LED). In contrast to traditional white LED packages, the SPE packages place the phosphor and/or down-conversion materials, such as quantum dots, at locations remote from the LEDs. The optic surrounding the LED's die is shaped to extract a significant portion of the down-converted white light that is otherwise absorbed and lost as waste heat within the traditional LEDs packages.

"The SPE technology increases light output and efficacy of white LEDs, and could play a important role in the evolution of white LEDs for lighting in homes and offices," said Nadarajah Narendran, Director of Research at Rensselaer's Lighting Research Center, where the technology was developed.

"This newly acquired technology gives Cyberlux the ability to ultimately hold the proprietary rights to a technology that could provide major advancements in the LED marketplace," says Mark Schmidt, President, Chief Operating Officer of Cyberlux Corporation. "With the development of the SPE technology, the Rensselaer researchers have developed what we believe to be novel white LED packages that may achieve a brighter, more efficient illumination system. We hope that this acquisition will bring a greater value to our company and compliment our existing suite of products sold both to the commercial and residential lighting market," added Schmidt.

"UTEK is pleased to consummate this technology transfer between Rensselaer Polytechnic Institute and Cyberlux Corporation," said Claire Guyer, Manager of Technology Licensing at UTEK Corporation.

About Rensselaer Polytechnic Institute

Rensselaer Polytechnic Institute, founded in 1824, is the nation's oldest technological university. The university offers bachelor's, master's, and doctoral degrees in engineering, the sciences, information technology, architecture, management, and the humanities and social sciences. Institute programs serve undergraduates, graduate students and working professionals around the world. Rensselaer faculty are known for pre-eminence in research conducted in a wide range of fields, with particular emphasis in biotechnology, nanotechnology, information technology, and the media arts and technology. The Institute is well known for its success in the transfer of technology from the laboratory to the marketplace so that new discoveries and inventions benefit human life, protect the environment and strengthen economic development. For more information about Rensselaer Polytechnic Institute, please visit its website at www.rpi.edu.

About Cyberlux Corporation

Cyberlux Corporation engages in the development, manufacturing and marketing of LED solutions for retail, commercial and industrial uses, primarily in the United States markets. The Company offers a family of products for task and accent lighting, emergency and security lighting, and specialized lighting systems for the residential, commercial, military, and homeland security markets. The Company's products include the "WatchDog" and "BrightEye" portable military lighting products such as the "EverOn" and "RelyOn"; the "Aeon" residential lighting solutions; and specialty lighting, such as the "KeOn" product. For more information about Cyberlux, please visit its website at www.cyberlux.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 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 Cyberlux Corporation "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UTEK's or Cyberlux Corporation'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 Cyberlux Corporation, 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 Cyberlux Corporation 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 Cyberlux Corporation 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.