UTEK Corporation (AMEX:UTK - News) (LSE-AIM:UTK), an open innovation company focused on technology transfer, today announced that it has appointed Dr. Jan Jaferian as a Senior Vice President.

In her new role, Dr. Jaferian will lead the firm’s intellectual property licensing efforts, and will be responsible for managing the growing UTEK client base. She will manage and coordinate licensing transactions between UTEK clients and its global network of universities and laboratories.

Dr. Jaferian has previously held senior management roles with leading corporations. In the past she has served as the President of Lucent Technologies Intellectual Property Business, which during her tenure employed as many as 90 professionals focused on worldwide licensing of Lucent-developed technologies. Prior to working for Lucent, Dr. Jaferian served as the Vice President of Xerox’s Intellectual Property Operations. Before Xerox she was the Executive Director of Technology Licensing for Amoco Corporation. Dr. Jaferian started her career at Digital Equipment, where she held various positions during her twenty year tenure with the firm. In addition to managing engineering, R&D, product development and international marketing groups within Digital Equipment, Dr. Jaferian founded the Corporate Licensing Office and served as its first Director, focusing on the protection and commercialization of Digital’s intellectual property portfolio.

Dr. Jaferian has her Doctorate in Business Administration from Harvard Business School, and received her M.B.A. and B.A. from the University of New Hampshire. She has served in the past as Chairman of the Board of Directors for the National Intellectual Property Law Institute. Dr. Jaferian has acted as an advisor to the Chinese Patent Office and has spoken in various international forums on intellectual property and strategic management.

“We are very pleased to appoint Dr. Jaferian as Senior Vice President. We believe that she has the right combination of leadership and experience in dealing with larger capitalization companies necessary to manage and grow our intellectual property licensing department,” commented Doug Schaedler, Chief Operating Officer.

About UTEK Corporation

UTEK® 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, 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 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 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 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.