looks promissing (pbotf)

[Tanail]

Press Release Source: Penn Biotech

Penn Biotech, Inc. Changes its Name to United Traffic System, Inc.
Thursday May 12, 9:00 am ET

VANCOUVER, British Columbia, May 12, 2005 (PRIMEZONE) -- The Board of Directors of Penn Biotech Inc. (The ``Company'') (OTC BB:PBOTF.OB - News) has approved its corporate name change to United Traffic System, Inc. (UTS). UTS aims the growth of the Intelligent Traffic Systems business, along with its continued development of Biotechnology business. UTS is vigorously pursuing business opportunities in the People's Republic of China. The Board of Directors also has ratified a 3 to 1 consolidation of its share capital as per the previous release of February 11, 2005. The Company will restructure as necessary to facilitate the continued development of its two different but distinct businesses.

Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.