BitzMart, Inc. Announces Acquisition of UTEK Corporation's Watermark Technologies, Inc. Subsidiary Containing Exclusive License to University of Miami Watermark Technology

Business Wire, May 30, 2001

Business Editors

CHICAGO & PLANT CITY, Fla. & CORAL GABLES, Fla.--(BUSINESS WIRE)-- May 30, 2001

University Technology May Solve Problem of

Commercial Music Delivery Over Web

BitzMart, Inc., UTEK Corporation (Nasdaq:UTOB) and the University of Miami announced jointly today that the University of Miami has granted a worldwide exclusive license for a new digital watermark technology to Watermark Technologies, Inc. In addition, the companies announced that Watermark Technologies, Inc., a wholly owned subsidiary of UTEK Corporation, has been acquired by BitzMart, Inc. in a stock-for-stock transaction.

BitzMart CEO, Howard Leventhal, commented, "This potentially revolutionary technology promises to free the flow of digitized property, particularly music and video, over the Internet."

The University of Miami patent pending technology can help control illegal copying and help track unauthorized copying of high quality digital audio. This new technology can embed an auxiliary channel into any stereo audio signal without taking any additional file space. The channel may then travel within the audio signal even if it is transmitted in an analog or digital medium (i.e., radio or CD). This information is hidden in the signal in a way that is not perceptible to the listener, and is very difficult to remove without noticeably altering the audio signal. The recovery of the information is relatively simple and does not require a copy of the "original" audio signal. Stereo hearing psychobiology theory is used to mask the channel and detect the channel while retaining the original audio signal's perceptual quality.

Professor Michael Scordilis and Alex Illiev, both of the University of Miami, invented the technology. According to Professor Scordilis, "We are very excited about our new development and look forward to seeing this technology introduced into the marketplace."

BitzMart, Inc. (www.bitzmart.com) a developmental stage company, intends to empower major retailers to participate in the market for downloaded media products including PC software, music, movies, e-books and video games. Utilizing a team of computer scientists to download and launch media files, the Company has developed its own proprietary technology. When combined with the University of Miami technology, BitzMart's software may provide a critical step for facilitating voluminous commercial transactions, as opposed to free distribution, via the Web. BitzMart's management has extensive experience in commercialization of technology products. BitzMart's contracted outlets for its private-labeled software include Radio Shack and uBid.com and it has plans to expand to many other major computer and electronics retailers in the U.S. and Europe.

UTEK Corporation is a business development company dedicated to building bridges between university developed technology and commercial organizations utilizing their unique U2B(sm) business model. UTEK acquires, licenses and finances the further development of new university technology for rapidly growing technology companies. These intellectual capital assets are then sold to technology companies for an equity stake. With UTEK's U2B(sm) model, companies can rapidly grow their technology assets while universities receive 100% of the royalties for each transferred technology.

The University of Miami is the largest private research university in the Southeast. Established in 1925, the University of Miami is known for its prestigious faculty, innovative research, diverse student body and history of athletics excellence. The University is ranked among the top universities in expenditures of federal funds for research and development.

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