UTK Utek Corp

RNS Number:9414L
UTEK Corporation
13 November 2006


FOR IMMEDIATE RELEASE                                        13 November 2006

                                UTEK CORPORATION

                  TECHNOLOGY TRANSFER TO CYBERLUX CORPORATION

     Transfer includes worldwide licence for technology to create improved
                             light emitting diodes

Tampa, FL, Durham, NC & Troy, NY - UTEK Corporation (AMEX & LSE-AIM: UTK) a
specialty finance company focused on technology transfer, and Cyberlux
Corporation (OTC BB: CYBL), a provider of LED lighting solutions, have completed
a technology transfer in a stock-for-stock transaction.

The technology transfer includes the worldwide exclusive licence to a number of
pending patents for the Scattered Photon Extraction(TM) (SPE) methodology,
developed at Rensselaer Polytechnic Institute. These packages are designed to
enable higher luminous efficacy with down-converted white light illuminators
constructed with Light Emitting Diodes (LED). In contrast to traditional white
LED packages, the SPE packages place the phosphor and/or down-conversion
materials, such as quantum dots, at locations remote from the LEDs. The optic
surrounding the LED's die is shaped to extract a significant portion of the
down-converted white light that is otherwise absorbed and lost as waste heat
within the traditional LED packages.

"The SPE(TM) technology increases light output and efficacy of white LEDs, and
could play an important role in the evolution of white LEDs for lighting in
homes and offices," said Nadarajah Narendran, Director of Research at
Rensselaer's Lighting Research Center, where the technology was developed.

"This newly acquired technology gives Cyberlux the ability to ultimately hold
the proprietary rights to a technology that could provide major advancements in
the LED marketplace", says Mark Schmidt, President and Chief Operating Officer
of Cyberlux Corporation. "With the development of the SPE technology, the
Rensselaer researchers have developed what we believe to be novel white LED
packages that may achieve a brighter, more efficient illumination system. We
hope that this acquisition will bring a greater value to our company and
complement our existing suite of products sold both to the commercial and
residential lighting market," added Schmidt.

"UTEK is pleased to consummate this technology transfer between Rensselaer
Polytechnic Institute and Cyberlux Corporation," said Claire Guyer, Manager of
Technology Licensing at UTEK Corporation.

Terms of the transaction

SPE Technologies, Inc., a company established by UTEK specifically for this
transaction, has been acquired by Cyberlux Corporation in a tax-free
stock-for-stock exchange. Cyberlux Corporation issued 98,000 shares of
convertible preferred stock to UTEK Corporation in exchange for 100% of the
issued and outstanding shares of SPE Technologies, Inc. The shares acquired in
the exchange are restricted and may only be resold pursuant to the requirements
of the Securities Act of 1933. The value of the consideration will be determined
based on a valuation in accordance with UTEK's valuation policy as of the
closing date of the transaction.

About Rensselaer Polytechnic Institute

Rensselaer Polytechnic Institute, founded in 1824, is the nation's oldest
technological university. The university offers bachelor's, master's, and
doctoral degrees in engineering, the sciences, information technology,
architecture, management, and the humanities and social sciences. Institute
programs serve undergraduates, graduate students and working professionals
around the world. Rensselaer faculty are known for pre-eminence in research
conducted in a wide range of fields, with particular emphasis in biotechnology,
nanotechnology, information technology, and the media arts and technology. The
Institute is well known for its success in the transfer of technology from the
laboratory to the marketplace so that new discoveries and inventions benefit
human life, protect the environment and strengthen economic development. For
more information about Rensselaer Polytechnic Institute, please visit its
website at www.rpi.edu.

About Cyberlux Corporation

Cyberlux Corporation engages in the development, manufacturing and marketing of
LED solutions for retail, commercial and industrial uses, primarily in the
United States markets. The Company offers a family of products for task and
accent lighting, emergency and security lighting, and specialised lighting
systems for the residential, commercial, military, and homeland security
markets. The Company's products include the "WatchDog and
"BrightEye" portable military lighting products such as the "EverOn" and
"RelyOn"; the "Aeon" residential lighting solutions; and specialty lighting,
such as the "KeOn" product. For more information about Cyberlux, please visit
its website at www.cyberlux.com.

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.



CONTACT:

Cyberlux
Mark Schmidt                                                  +1 919-474-9700

Rensselaer Polytechnic Institute
Paul Fredette                                                 +1 518-276-4131

UTEK Corporation
USA:
Tania Bernier                                            +1 813-754-4330 x223

Consulting for Strategic Growth 1
Stan Wunderlich                                               +1 800-625-2236

UK: Bankside
Steve Liebmann or Simon Bloomfield                           +44 20-7367-8888

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
Cyberlux Corporation "expects," "should," "believes," "anticipates" or words of
similar import. Similarly, statements that describe UTEK's or Cyberlux
Corporation'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 Cyberlux
Corporation, 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 Cyberlux Corporation 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 Cyberlux Corporation 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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