UTEK Corporation
30 August 2006


FOR IMMEDIATE RELEASE                                          30 August 2006

                                UTEK CORPORATION
                                        
              STRATEGIC ALLIANCE AGREEMENT FOR TECHNOLOGY TRANSFER
                         SIGNED WITH PRACTICEXPERT, INC.


Tampa, FL & Calabasas, CA - UTEK Corporation (AMEX & LSE-AIM: UTK), a specialty
finance company focused on technology transfer, and PracticeXpert, Inc. (OTC BB:
PXPT), a company focused on improving operational efficiencies for medical
practitioners, are pleased to announce that they have signed a strategic
alliance agreement.

Michael Manahan, Chief Executive Officer of PracticeXpert, Inc. said, "Whether
we are providing our customers with outsourced medical billing services, or
practice management and electronic health records software, the control and
deployment of leading edge technologies is a vital component of our product
offerings and our competitive strategy. Identifying and acquiring new
technologies that improve work flow in a physician's office should allow us to
continually improve our products and services, which means more efficient
operations and ultimately improved profitability for our physician customers. We
are enthused by the potential opportunities this strategic alliance with UTEK
Corporation is expected to generate."

"UTEK looks forward to working with ParacticeXpert, Inc. to identify and
potentially transfer proprietary technologies that will be synergistic with its
core business," said Eric Jenkins, Vice President of Strategic Alliances for
UTEK Corporation.

Through its strategic alliance agreements, UTEK assists companies in enhancing
their new product pipeline with the acquisition of proprietary intellectual
capital from universities and laboratory research centers. Strategic alliance
agreements are generally cancelable by either party with thirty days advance
written notice.


About PracticeXpert, Inc.

PracticeXpert provides turn-key practice management services and technology
solutions to medical practitioners that improve operational efficiencies and
enhance cash flow. PracticeXpert offerings include medical billing, accounts
receivable management, practice management, consulting, seminars, practice
management software, electronic medical records software and related services.
PracticeXpert bundles its technology applications with its billing and other
practice management services to provide a complete and integrated solution to
its physician customers. For more information about PracticeXpert, Inc., please
visit its website at www.practicexpert.com.


About UTEK Corporation

UTEK(R) is a specialty finance company focused on technology transfer. UTEK
enables companies to acquire innovative technologies from universities and
research laboratories worldwide. UTEK facilitates the identification and then
finances the acquisition of external technologies for clients in exchange for
their equity securities. This unique process is called U2B(R). In addition to
its U2B(R) service, 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.



CONTACTS:

PracticeXpert, Inc.
Michael Manahan                                               +1 818-591-0081

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

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

UK: Bankside                                                 +44 20-7367-8888
Steve Liebmann


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

END
NRAUKAVRNSRWUAR