SOURCE: Ultitek, Ltd.

February 26, 2008 07:00 ET

Ultitek Expects Revenue Increase With E-Ticketing Agreement Signed With Amadeus

ENGLEWOOD CLIFFS, NJ--(Marketwire - February 26, 2008) - Ultitek, Ltd. (OTCBB: UITK) is pleased to announce that its wholly owned subsidiary, TAIS, has agreed to provide E-ticketing services for Air Union through Amadeus's Global Distribution System (GDS). Air Union is one of Ultitek's largest customers and controls a number of airlines flying into and within countries constituting the former Soviet Union. Amadeus is one of the largest distribution companies in the industry. With this agreement, Ultitek now provides a bridge for E-ticketing between Air Union's airlines with distribution systems provided by Amadeus. In addition, Ultitek also provides E-ticketing to Air Union and its airline partners through an interlink bridge.

"Our goal is to be a world class player in the airline IT industry. This agreement with Amadeus places us on the right path. We expect revenues and profits to increase accordingly," said Roman Price, Ultitek's 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
    Email address: ejs@ultitek.com
    http://www.ultitek.com