News Release

Cyrospace, University of Houston sign commercialization agreement

Company will help license university’s high-tech creations to private sector

Business Announcement

University of Houston

HOUSTON, Oct. 21, 2003 – Cyrospace Inc. and the University of Houston have signed a commercialization agreement in which the company will license and commercialize inventions and technologies created by the faculty, staff and students of the university.

According to this agreement, which was announced Sept. 29, Cyrospace will assist UH in realizing the commercial potential of its advanced technologies in the marketplace.

"This agreement is another step in enhancing Cyrospace's portfolio of innovative technologies required to meet the technology challenges of our customers," said Michael Cyrus, Cyrospace's president and CEO. "This relationship will produce revenues for both the university and Cyrospace, enabling UH to concentrate on research and development while allowing them to benefit from our expertise in technology commercialization."

Arthur Vailas, UH vice president for research and intellectual property management, also praised the agreement, saying, "Our principal goal is to foster research and scholarship. The effective transfer of university-wide technology to industry contributes to that goal. Cyrospace has developed strong commercial alliances with world-renowned innovators, as well as educational and research institutions. University of Houston joins a select group of organizations benefiting from experience and expertise that Cyrospace contributes to such relationships."

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About Cyrospace Inc.
Established in 1998, Cyrospace is a technology mining, development and commercialization company focused on meeting the technology needs of its customers and transforming their innovative technologies into commercially viable solutions. Cyrospace has strategic capabilities in commercializing innovative technologies developed by scientific institutions, government entities, universities, corporations and inventors. For more information, visit the Web site www.cyrospace.com or call 281-535-7077.

About the University of Houston
The University of Houston, Texas' premier metropolitan research and teaching institution, is home to more than 40 research centers and institutes and sponsors more than 300 partnerships with corporate, civic and governmental entities. UH, the most diverse research university in the country, stands at the forefront of education, research and service with more than 35,000 students.

For more information about UH visit the university's Newsroom at www.uh.edu/admin/media/newsroom


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