Ultitek Ltd. Appoints Roman Price, Chairman and CEO


ENGLEWOOD CLIFFS, N.J., July 15, 2005 (PRIMEZONE) -- Ultitek Ltd. (Pink Sheets:UITK) is pleased to announce that Roman Price has been appointed Chairman and CEO of Ultitek Ltd. Mr. Price is also the founder of Ultitek Ltd.

Mr. Price has a strong background in building international software development companies. He has a Mathematics and Mechanics degree from the University of Odessa (Russia) and a Computer Science degree from the City University of New York. In the early 1980's, Mr. Price built the minicomputer division of a New York based firm called PMI into a multi-million dollar division. Mr. Price has also had a significant equity ownership of a travel agency in New Jersey, which gave him a good insight of the types of software utilized by the airline and travel industry.

Through Ultitek's wholly owned subsidiary TAIS, Mr. Price has built the company into one of the leading providers of Computerized Airline Reservations Systems. "Ultitek is looking to utilize our strong customer base in Russia and Eastern Europe as a "stepping stone" into the North American and Western European markets," stated Roman Price, chairman and CEO of Ultitek Ltd.

About Ultitek Ltd.

Ultitek's, Ltd. wholly owned subsidiary TAIS has been a provider of Computerized Airline Reservations Systems software (CRS) since 1989. Today Ultitek, Ltd. is the leader among reservations systems in the Russian Aviation market. In 2003, nine million passengers of 60 airlines were serviced by it, which consisted of more than 50% of the transport of passengers performed on domestic scheduled flights of carriers in Russia and the countries of the C.I.S.

Safe Harbor

This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.



            

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