ENGLEWOOD CLIFFS, N.J., Aug. 5, 2005 (PRIMEZONE) -- Ultitek, Ltd. (Pink Sheets:UITK) is pleased to announce that the Company will be opening a sales and development office in Sofia-Antipolis, France. Sofia-Antipolis is located on the outskirts of Nice and is home to many large technology companies such as HP, Air France, American Express, Amadeus, and Motorola.
Ultitek will use the French office as sales, support and development base to accommodate customer requirements in Western Europe and Africa. "The opening of our office in Sofia-Antipolis will help the company cover customer needs on both sides of the Mediterranean," stated Roman Price, CEO of Ultitek, Ltd. Sofia-Antipolis is made up of 14 Communes on the Cote D'azur and is also referred to as the "Silicon Valley of Europe." Ultitek also has offices in the USA and Russia.
Ultitek recently announced that they had a 59% increase in revenues for the first six months of 2005, as compared with the first six months of 2004.
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.
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.