Los Angeles, CA - July 9, 2007 -- Material Technologies, Inc. (OTC BB; MTTG.OB - News) ("MATECH") a company that engages in the research and development of technologies to monitor and measure metal fatigue, today announced that it has acquired in a stock transaction Non-Destructive Assessment Technologies, Inc., a wholly owned subsidiary of UTEK, a specialty finance company focused on technology transfer.

Non-Destructive Assessment Technologies, Inc. holds a license for a portable device that provides a visual display of sites where metal has been lost due to corrosion in metallic layered structures. The technology provides data that gives both layer thickness and flaw detection information. The technology was developed at Iowa State University.

"Material Technologies, Inc. is focused on monitoring and measuring metal fatigue cracks in metal components across a wide variety of structures and equipment. We are enthusiastic about adding this technology to our product line," said Robert M. Bernstein, Chief Executive Officer of Material Technologies, Inc.

About Material Technologies, Inc. (MTTG.OB)

MATECH is an engineering, research and development company specializing in technologies to monitor metal fatigue in real time. The company's leading edge metal fatigue detection and monitoring solutions can accurately test the integrity of metal structures and equipment including bridges, railroads, airplanes, ships, cranes, power plants, mining equipment, and heavy iron.

About UTEK Corporation 

UTEK® is a specialty finance company focused on technology transfer. UTEK’s services enable companies to acquire innovative technologies from universities and research laboratories worldwide. UTEK facilitates the identification and acquisition of external technologies for clients in exchange for their equity securities. This unique process is called U2B®. In addition, UTEK offers companies the tools to search, analyze, and manage university intellectual properties. UTEK is a business development company with operations in the United States, United Kingdom, and Israel. For more information about UTEK, please visit its website at www.utekcorp.com.

Forward-Looking Statements:

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Such statements are indicated by words or phrases such as "believe," "will," "breakthrough," "significant," "indicated," "feel," "revolutionary," "should," "ideal," "extremely" and "excited." These statements are made under "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See the Company's filings with the Securities and Exchange Commission including, without limitation, the Company's recent Form 10-K and Form 10-Qs, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.

Contact:

Robert M. Bernstein
Material Technologies, Inc.
1.310.208.5589
matech@matechcorp.com