Strategic alliance signed

UTEK Corporation
13 September 2006


FOR IMMEDIATE RELEASE                                      13 September 2006


                                UTEK CORPORATION
                                        
              STRATEGIC ALLIANCE AGREEMENT FOR TECHNOLOGY TRANSFER
                          SIGNED WITH MM2 GROUP, INC.
                                        
                                        

Tampa, FL & Matawan, NJ - UTEK Corporation (AMEX & LSE-AIM: UTK), a specialty
finance company focused on technology transfer, and MM2 Group, Inc. (OTC BB:
MMGP), a financial consulting group focused on nutraceuticals, are pleased to
announce that they have signed a strategic alliance agreement.


Mark Meller, Chief Executive Officer of MM2 Group, 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. We are especially excited given UTEK's expertise in
nutraceuticals and supplements, which fits well with our current business
plans."


"UTEK looks forward to working with MM2 Group, 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 MM2 Group, Inc.


MM2 Group, Inc. is a financial consulting group, providing both publicly-traded
and private companies with short-term, mid-term, and long-term capital. MM2
Group, Inc. is also focused on an aggressive acquisition strategy and is
supported by our solid working relationships with some of the largest and most
respected investment funds, venture capital firms, and hedge funds in the world.
The Company has recently announced its intention to acquire Genotec
Nutritionals, Inc., a leading nutraceutical manufacturing and distribution
company. For more information about MM2 Group, Inc., please visit its website at
http://mm2group.net.


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, 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:

MM2 Group, Inc.
Mark Meller                                                   [phone]

UTEK Corporation
USA:
Tania Bernier                                            [phone] x223

Consulting for Strategic Growth 1
Stan Wunderlich                                               [phone]

UK: Bankside                                                 [phone]
Steve Liebmann


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
MM2 Group, Inc. "expects," "should," "believes," "anticipates" or words of
similar import. Similarly, statements that describe UTEK's or MM2 Group, 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 MM2 Group, 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
MM2 Group, 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
MM2 Group, 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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