UTEK Corporation Receives "Professional Services Company of the Year Award"

Business Wire, Nov 9, 2007

TAMPA, Fla. -- UTEK Corporation (AMEX:UTK) (LSE-AIM:UTK), an open innovation company focused on technology transfer, is pleased to announce that at the Tampa Bay Technology Forum Annual Industry Achievement Awards ceremony yesterday evening, it received an award for the "Professional Services Company of the Year".

"This award is a tribute to the hard work of all UTEK associates in helping to address the Open Innovation needs of our clients," commented Clifford M. Gross, Ph.D., UTEK's Chairman and Chief Executive Officer.

About the Tampa Bay Technology Forum

Founded in 2000, the Tampa Bay Technology Forum ("TBTF") is a professional association whose members work together to make the Tampa Bay area a place where technology and innovation thrive. TBTF's 400 member organization represents more than 40,000 employees including technology entrepreneurs, business and community leaders, investors, government representatives, researchers and educators. For more information about TBTF, please visit its website at www.tbtf.org.

About UTEK Corporation

UTEK([R]) is an open innovation company focused on technology transfer. UTEK's services enable companies to acquire externally developed technologies from universities and research laboratories worldwide. In addition, UTEK provides services to help companies create value from their intellectual property. 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 "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 valuation of UTEK's investment portfolio, 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, it 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. 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 UTEK does 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 and realized gains and losses of companies in its portfolio, 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.