ENGLEWOOD CLIFFS, N.J., Sept. 28, 2005 (PRIMEZONE) -- Ultitek Ltd. (Pink Sheets:UITK) is pleased to announce that the Company realized $1,023,600 in Gross Revenue for the eight months ending August 31 2005. This is an increase of two hundred and thirty-six percent (236%) as compared to the eight months ending August 31, 2004, when Ultitek realized $433,192 in Gross Revenue.
Ultitek has also increased their After-Tax Net Profit by $530,572 for the eight months ending August 31, 2005. The Company realized an After-Tax Loss of $364,047 for the eight months ending August 31 2004.
"We are pleased with the performance of the Company as we continue to expand our operations and increase shareholder value," stated Roman Price, Chairman and CEO of Ultitek, Ltd.
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.