UTEK Corporation Appoints Managing Director for European Operations.

PLANT CITY, Fla. & BERKHAMSTED, UK -- UTEK Corporation (AMEX:UTK) (LSE-AIM:UTKA), an innovative technology transfer company, today announced that it has appointed Clare Thompson as Managing Director of its UTEK-Pax, Ltd. subsidiary.

Ms. Thompson joined UTEK-Pax, Ltd. in February 2005

"UTEK's business model is a boon to many growing companies who need new technologies to develop a strategic marketplace advantage. I believe that there is a great opportunity for us to expand our business throughout the UK and European markets," said Ms. Thompson.

Clifford Gross, Ph.D., CEO of UTEK Corporation commented: "We are very pleased to appoint Ms. Thompson as Managing Director of UTEK-Pax, Ltd. We believe that she has the right combination of leadership and experience necessary to grow our market driven technology transfer business in the UK and continental Europe."

Over the past 15 years, Ms. Thompson has had direct experience in meeting the needs of growing technology companies. Her previous positions include being European Strategy Manager for Health at Vizzavi Europe, Editor-in-Chief of BioMedNet, an electronic website owned by Reed-Elsevier, and Editorial Director of NetDoctor, where she was a founding member of the UK team.

In 2002, Ms. Thompson won a Centre for Scientific Enterprise Scholarship for the Sloan Masters Fellowship at the London Business School, specifically for the purpose of commercializing scientific technologies. Ms. Thompson has also been a Senior Editor at The Lancet, acted as a Guest Editor for the Sunday Times Magazine special scientific issues, and has contributed science and medical features to Science, Nature, The Daily Telegraph, The Times, Time and The Economist. A BBC documentary, The Human Body, that she worked on as an Assistant Producer won three BAFTAs (British Academy of Film and Television Arts) in 1998.

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. UTEK facilitates the identification and acquisition of external technologies for clients in exchange for their equity securities, while allowing research institutions to receive 100% of the royalties. This unique process is called U2B(R). UTEK transfers proprietary technologies with potential commercial applications to companies seeking product differentiation resulting in a strategic marketplace advantage. 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. For information about UTEK-Pax, Ltd., please visit its website at http://www.utek.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 "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 market valuation of UTEK stock, 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. New 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.