Ultitek Ltd. (UITK.PK) Discovers Two Untrue and Unauthorized Press Releases

SOURCE: Ultitek Ltd.

Roman Price Continues to Be Company’s Sole Director

NEW YORK, NY–(Marketwire – August 3, 2010) –  Ultitek Ltd. (PINKSHEETS: UITK) today discovered two untrue and unauthorized press releases issued on May 12th and 24th. The press releases, which relate to a supposed telephonic shareholder meeting held on May 21, 2010 at which a temporary board of directors was elected, are blatantly untrue and were issued without the knowledge of or authorization by the Company. No such shareholders’ meeting was held and no temporary board was elected. 

The Company has issued a Cease & Desist letter to the offending party, demanding that they immediately retract the two offending press releases. The Company and it legal counsel will pursue any and all legal remedies if the offending party does not immediately comply with their demands. 

Roman Price, the Company’s President and Chief Executive Officer, continues to be the Company’s sole director.

About Ultitek Ltd.

Through its wholly owned subsidiary, TAIS, Ultitek Ltd. 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: The information in this news release includes certain forward-looking statements as defined in the “Safe Harbor” provisions of the Private Securities Litigation Reform Act of 1995. The matters described in these forward-looking statements are based upon assumptions that are subject to significant known and unknown risks, uncertainties and other unpredictable factors, many of which are beyond Ultitek’s control. Ultitek faces many risks that could cause its actual performance to differ materially from the results predicted by its forward-looking statements. Although Ultitek believes that the expectations reflected in forward-looking statements are reasonable, because of those risks, Ultitek’s actual results, performance or achievements may differ materially from the results, performance or achievements contemplated by its forward-looking statements. Accordingly, it can give no assurance that the expectations of any of its forward-looking statements will prove to be correct. The information set forth in this news release represents management’s current expectations and intentions. Ultitek assumes no responsibility to issue updates to the forward-looking matters discussed in this news release.

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