Strategic alliance signed

UTEK Corporation
11 August 2006



FOR IMMEDIATE RELEASE                                          11 August 2006

                                UTEK CORPORATION
                                       
                                        
              STRATEGIC ALLIANCE AGREEMENT FOR TECHNOLOGY TRANSFER
                           SIGNED WITH AEROTELESIS, INC.


Tampa, FL & Los Angeles, CA - UTEK Corporation (AMEX & LSE-AIM: UTK), a
specialty finance company focused on technology transfer, and aeroTelesis, Inc.
(OTC BB: AOTL), an emerging technology-driven service provider to satellite and
wireless companies to maximise their bandwidth utilisation, are pleased to
announce that they have signed a strategic alliance agreement.

Milton Hahn, Chief Executive Officer of aeroTelesis, Inc. said, "We are
enthusiastic about forming a strategic alliance with UTEK Corporation which we
believe will enable us to identify synergistic technology acquisition
opportunities."

"UTEK looks forward to working with aeroTelesis, Inc. to identify and
potentially transfer proprietary technologies that will be synergistic with its
core business," said Doug Schaedler, Chief Operating Officer of UTEK
Corporation.

Through its strategic alliance agreements, UTEK assists companies in enhancing
their new product pipeline with the acquisition of proprietary intellectual
capital from universities and laboratory research centers. Strategic alliance
agreements are generally cancelable by either party with thirty days advance
written notice.

About aeroTelesis, Inc.

aeroTelesis is an emerging technology-driven service provider to satellite and
wireless companies to maximise their bandwidth utilisation. aeroTelesis'
technology partner Photron Technologies, Ltd. (Photron) is the developer of a
proprietary technology platform called Ultra Spectral Modulation (USM)(TM). USM 
is a proprietary modulation technique that significantly increases spectral
efficiency in satellite-based applications. aeroTelesis has the exclusive
license from Photron to distribute USM-related products and services. Upon the
completion of the development of USM, aeroTelesis intends to offer USM-related
products and services to major satellite operators on a global basis. For more
information about aeroTelesis, Inc., please visit its website at
www.aerotelesis.com.

About UTEK Corporation

UTEK(R) is a specialty finance company focused on technology transfer. UTEK
enables companies to acquire innovative technologies from universities and
research laboratories worldwide. UTEK facilitates the identification and then
finances the acquisition of external technologies for clients in exchange for
their equity securities. This unique process is called U2B(R). In addition to
its U2B(R) service, UTEK offers companies the tools to search, analyse and
manage 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.


CONTACTS:

aeroTelesis, Inc.
Cerena Han                                                    [phone]

UTEK Corporation
USA:
Tania Bernier                                            [phone] x223

Consulting for Strategic Growth 1
Stan Wunderlich                                               [phone]

UK: Bankside                                                 [phone]
Steve Liebmann or Simon Bloomfield


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
aeroTelesis, Inc. "expects," "should," "believes," "anticipates" or words of
similar import. Similarly, statements that describe UTEK's or aeroTelesis,
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 aeroTelesis, 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 aeroTelesis, 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 aeroTelesis, Inc. do 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 unrealised gains and losses, 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 realised and unrealised 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.




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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