ENGLEWOOD CLIFFS, N.J., Sept. 13, 2005 (PRIMEZONE) -- Ultitek Ltd. (Pink Sheets:UITK) is pleased to announce that their wholly owned subsidiary TAIS is working together with Lufthansa Systems on a revenue management project for Air Union. The agreement with Lufthansa Systems will enable TAIS to expand the services they are providing to Air Union, Russia's second largest airline consortium.
"This revenue management software helps fulfill the suite of applications, which we are providing to Air Union," stated Roman Price, CEO of Ultitek Ltd. Mr. Price continued to state that the relationship with Lufthansa Systems will be mutually beneficial for both parties.
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, 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.
About Lufthansa Systems AG
Lufthansa Systems is one of the leading IT service providers for the airline and aviation industries worldwide. As systems integrator, the wholly owned subsidiary of the Lufthansa Group covers the entire range of IT services, including consulting, development, implementation and operation. Lufthansa Systems provides its IT infrastructure and operations services to a variety of industries. Headquartered in Kelsterbach near Frankfurt/Main, Germany, the company has branches in Germany and 17 countries and employs about 4,500 people worldwide.
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.