UTEK Corporation - Directorate Change

Business Wire, June 30, 2009

TAMPA, Fla. -- UTEK Corporation (NYSE AMEX: UTK) (LSE-AIM: UTK), a leading innovation services company, announces the forthcoming resignation of Francis Maude as Non-Executive Director. With a UK General Election due by June 2010, Francis Maude will step down as a Non-Executive Director at the end of 2009. The Company plans to appoint a replacement in the coming months.

The Rt. Hon. Francis Maude commented, “I have been a Non-Executive Director at UTEK for three years and have seen it develop from a technology transfer company into a leading global growth and innovation firm helping clients capture the full value of all their intellectual capital. UTEK is well positioned for the future and is led by an excellent management team focused keenly on scaling the business profitably and sustainably. It has been and remains a pleasure to be involved with it.”

About UTEK Corporation

UTEK® is a leading innovation services company. UTEK's services enable clients to become stronger innovators, rapidly source externally developed technologies, create value from their intellectual property and gain foresight into marketplace and technology developments that affect their business. UTEK is a business development company. 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. Such forward-looking statements are subject to certain risks and uncertainties, which could cause actual results to differ materially from those currently anticipated. 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. This press release (when filed) will be available on the Company’s website www.utekcorp.com.