WILMINGTON, Del., Oct. 3, 2006 (PRIMEZONE) -- Universal Capital Management, Inc. (OTCBB:UCMT), a Business Development Company which provides emerging growth companies with management and strategic resources for successful growth, noted today that PSI-TEC Holding Corp. (Pink Sheets:PTHO) accepted the Frost & Sullivan 2006 North American Electro-Optic materials Technology Innovation of the Year Award.
Universal Capital Management is very excited to see its Portfolio Company accept this award and be among the many deserving recipients. This year's various awards went to Honeywell, JDSU, Siemens Medical Solutions, Verizon Communications, TomTom, GE Security and the Microsoft Automotive Business Unit.
Mr. Ron Genova, interim CEO of PSI-TEC noted that "this is a clear and significant validation of our strategic vision by an extremely reputable independent global market consultant within a highly competitive environment of technological innovation."
About PSI-TEC
PSI-TEC (www.psiteccorp.com) is developing high-activity, high-stability electro-optic polymers for application in the electro-optic device market. Electro-optic devices convert data from electric signals into optical signals for use in communications systems and in optical interconnects for high-speed data transfer.
About the Frost & Sullivan Award
The award is bestowed upon the candidate whose original research has resulted in innovations that have, or are expected to bring, significant contributions to multiple industries in terms of adoption, change, and competitive posture. This award recognizes the quality and depth of the candidate's research and development program as well as the vision and risk-taking that enabled it to undertake such an endeavor.
About Universal Capital Management
Universal Capital Management, Inc. is a publicly traded Business Development Company created under the Investment Act of 1940. Its purpose is to assist its portfolio companies with funding and management to facilitate growth and increase their value.
The primary investment objective of Universal Capital Management is to increase its net assets by adding value to each of its portfolio companies and thus, increasing stockholder value. The Company's Net Asset Value is the potential driving force for its market value. Management believes that the Company will be able to achieve these objectives by concentrating on investments in companies which are most likely to benefit from management's expertise in finance, strategic planning, operations, and technology.
Please visit the company's website at http://www.unicapman.com.
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