UTEK Corporation and MachineTalker, Inc. Complete Technology Transfer

Business Wire, July 23, 2007

TAMPA, Fla. & SANTA BARBARA, Calif. -- UTEK Corporation (AMEX:UTK) (LSE-AIM:UTK), a specialty finance company focused on technology transfer, and MachineTalker, Inc. (OTCBB:MTKN), a developer of smart wireless security networks and tracking systems, today announced that MachineTalker, Inc. has acquired Wideband Detection Technologies, Inc., a wholly owned subsidiary of UTEK Corporation, in a stock transaction.

Wideband Detection Technologies, Inc. owns a license to the GuardDog sensor, developed at the Lawrence Livermore National Laboratory (LLNL). This technology provides an array of sensors that can monitor an area for intrusion detection and relay the sensed data to a satellite or another receiver. The basic GuardDog sensors may be used to detect motion or be deployed in "wake-up" scenarios where they can trigger other devices such as cameras or radiation detectors. More sophisticated GuardDog sensors may be used to distinguish human activity from motions generated by wildlife, wind, etc., and the sensors can track and record the exact locations of the activity. The sensor's ultra-wideband (UWB) signals can be used in heavily "cluttered" environments found in dense urban areas, as well as in indoor environments that contain metallic and concrete obstacles such as in warehouses, and inside cargo containers.

"We believe that the GuardDog sensor coupled with our proprietary MachineTalker([R]) technology will be the basis for an intrusion detector that provides an effective means for evaluating safety of cargo within a shipping container. The potential of utilizing UWB signals for this purpose and for rapid notification of tampering should enhance any MachineTalker security installation. Also, we appreciate UTEK's effort in helping us locate and acquire this advanced technology from LLNL," said Roland Bryan, Chief Executive Officer of MachineTalker, Inc.

"UTEK is pleased to consummate this technology transfer with MachineTalker, Inc.," said Joel Edelson, Vice President of Technology Licensing at UTEK Corporation.

About Lawrence Livermore National Laboratory

Founded in 1952, Lawrence Livermore National Laboratory has a mission to ensure national security and to apply science and technology to the important issues of our time. Lawrence Livermore National Laboratory is managed by the University of California for the U.S. Department of Energy's National Nuclear Security Administration. For more information about Lawrence Livermore National Laboratory, please visit its website at www.llnl.gov.

About MachineTalker, Inc.

MachineTalker, Inc., founded in 2002, has developed smart security networks that allow governments, businesses and individuals to rapidly deploy wireless security and tracking systems to protect people, places and things. The Company's proprietary technology embodies innovative features in the networking of intelligent devices that form "communities" for shared processing and reporting of data in remote security and control applications. For more information about MachineTalker, Inc., please visit its website at www.machinetalker.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 and analyze 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 MachineTalker, Inc. "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UTEK's or MachineTalker, 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 MachineTalker, 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 MachineTalker, 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 MachineTalker, Inc. do not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.