SOURCE: Ultitek Ltd.

August 14, 2007 08:31 ET

Malév Airline Flights Available Through Ultitek's CRS

ENGLEWOOD CLIFFS, NJ--(Marketwire - August 14, 2007) - Ultitek Ltd. (OTCBB: UITK) is pleased to announce that Malév Airlines (MA) has signed an agreement with Transportation Clearing House (TCH) of Russian Federation to allow sales of tickets using TCH's authorized standard ticket form.

In accordance with Transportation Clearing House's decision, as of August 10, 2007, through Ultitek's Computer Reservation System and Distribution, sales will be allowed for all flights on Malév Airlines.

Malév Hungarian Airlines is the national airline of Hungary, based in Budapest. It is the principal Hungarian airline and operates services in 34 countries worldwide. Its main base is Budapest Ferihegy International Airport. Malév is a member of the Oneworld alliance since April 2007.

Sale of flights from Russia and the CIS via Budapest are now available worldwide to more than 270 city pair destinations.

Access to the airline resources are available interactively via interface with GDS GALILEO.

"As with our contract with Austrian Airlines, this agreement with Malév Airlines enhances our position in the global airline industry. They are both well respected airlines," said Roman Price, CEO.

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.

Contact Information

  • Contact:
    Ernest J. Sabato
    Ultitek Ltd.
    560 Sylvan Avenue
    Englewood Cliffs, New Jersey 07632
    Telephone: 1-201-541-1700 or 1-888-ULTITEK
    Fax: 1-201-541-1778
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