ENGLEWOOD CLIFFS, N.J., July 13, 2005 (PRIMEZONE) -- Ultitek Ltd. (Pink Sheets:UITK) is pleased to announce that they have commenced trading of its stock under the symbol of UITK.
Ultitek, Ltd.'s 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 2004, Ultitek, Ltd. had revenues of $890,000 with a net profit of $31,000 versus revenues of $836,000 with an increase in net profit of approximately $10,000, compared with 2003.
Roman Price, CEO of Ultitek, Ltd., stated, "The management of Ultitek is committed to increasing shareholder value by expanding our customer base within the Baltic region as well as into the European and North American markets."
About Ultitek Ltd.
Ultitek, Ltd.'s 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, 9 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.