Zinetec Ltd. Grants Manufacturing Licenses to Three Companies; Technology Improves the Taste, Color and Texture of Canned, Bottled and Pouched Foods.

PLANT CITY, Fla. & NORWICH, England -- UTEK Corporation (AMEX:UTK) (LSE-AIM:UTKA) the technology transfer company, and Zinetec Ltd. of the United Kingdom, the developer of an improved process for sterilizing canned, bottled and pouched foods (the Shaka(TM) process), report the granting of machine manufacturing licenses to three food processing machinery companies:

Allpax Products Inc., Covington, Los Angeles, USA;
Satori-Stocktec GmbH, Neumuenster, Germany; and
Steriflow SAS (formerly Barriquand), Paris, France.

These machinery companies are now offering novel Shaka(TM) process sterilizing retorts to the food processing industry.

UTEK Europe Ltd., a subsidiary of UTEK Corporation, is advising Zinetec Ltd. on its Shaka(TM) process commercialization program and has a financial stake in its outcome.

Licenses to use the Shaka(TM) process for several major food categories are also being negotiated with a number of major food groups in Europe and the US. The Shaka(TM) process dramatically shortens the time required to sterilize food and can thus improve the taste, color and texture of the food. For more information on the Shaka(TM) process, please visit its website at http://www.shakaprocess.com.

"After many trials by many food companies at Zinetec's pilot facility, hosted by the Campden and Chorleywood Food Research Association's laboratories (CCFRA) in the United Kingdom, the opportunity to significantly improve the quality of canned, bottled and pouched foods such as soups, sauces, ready meals, baby food, chopped vegetables and even pet food has become clear," said Richard Walden, Director of Zinetec Ltd. and the original discoverer of the Shaka(TM) process. "The process is relatively simple and inexpensive to operate and the processed food industry is very large; therefore we are optimistic about Zinetec's future. We are also grateful to UTEK for their help and guidance in bringing our discovery to market," Mr. Walden added.

"We are very excited by Zinetec Ltd. and its Shaka(TM) process. Fresher tasting, better looking canned, bottled and pouched foods should clearly be a benefit to all as well as a significant business opportunity for Zinetec Ltd. and UTEK," said John D Emanuel, Chairman of UTEK Europe Ltd.

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.

About Zinetec Ltd.

Zinetec Ltd. is a UK based engineering consultancy specialising in the development of innovative processes and equipment for the food preservation and packaging industries. Its principals spent decades in food packaging research in multi-national companies before setting up Zinetec Ltd. For more information about Zinetec Ltd, please visit its website at http://www.zinetec-design-engineering.co.uk.

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 Zinetec, Ltd. "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UTEK's or Zinetec, Ltd.'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 Zinetec Ltd., 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 Zinetec, Ltd. 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 Zinetec, Ltd. 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.