year-end results 
Business Editors 
WESTPORT, Conn.--(BUSINESS WIRE)--University Patents Inc. (ASE:UPT) 
Thursday released its fourth quarter and annual results, for the fiscal 
year ended July 31, 1993. 
A UPT spokesman also announced the signing of a third agreement to 
license its conductive polymer battery patents, invented at the 
University of Pennsylvania.  The agreement is with Unitika Ltd.,
Osaka, Japan.  It gives Unitika the right to manufacture and sell 
polymer batteries and to manufacture and sell patented conductive
polymer film and electrodes to other battery makers, who first must 
obtain license rights from UPT. 
The spokesman noted that the other licensees are Bridgestone Corp. 
and Seiko Instruments Inc., and that discussions are ongoing with 
several other Japanese companies that have polymer batteries in 
various stages of development.  This includes one large company that 
UPT believes is currently selling batteries that may infringe its 
issued U.S. patents. 
The UPT spokesman also described a joint venture between UPT and 
Mogee Research & Analysis Associates that received a Phase II Small 
Business Innovation Research (S.B.I.R.) grant in the amount of 
approximately $300,000.  Mogee Associates, which is affiliated with 
the National Science Foundation (N.S.F.) Center for Innovation 
Management Studies at Lehigh University, will use the funds to 
complete a software package that links international patent citations
to key aspects of corporate technology strategy development.  This 
package is viewed as an important tool for maximizing global 
competitiveness, and should be useful for evaluating future 
performance of technology-based firms.  UPT's role will be to act as 
the exclusive agent for commercializing the software package upon its
Since its founding more than 25 years ago, University Patents has
focused primarily on seeking commercial applications for technologies 
developed at universities.  Its portfolio of patent rights numbers over 
200 and, in addition to the conductive polymer battery, includes such 
technologies as Retin-A, and anti-wrinkle skin treatment, also 
developed at the University of Pennsylvania; a Vitamin B12 assay, and a 
designer drug technology based upon ribozymes, both developed at the 
University of Colorado; and PerioGard, a periodontal disease monitoring 
kit developed at the University of Illinois. 

                            University Patents Inc.
                             Financial Highlights
                    Fourth quarter ended        Fiscal year ended
                          July 31,                   July 31,
                     1993           1992        1993          1992

 Retained royalties  $ 203,882   $ 154,991    $  650,651  $  504,143
 Contract revenues      36,565          --        84,470          --
 education services    577,787     517,142    $2,183,276   2,030,291
Total revenues         818,234     672,133     2,918,397   2,534,434

Gain on issuance of
 shares by 
 subsidiaries          232,594          --       232,594      44,018

Losses related to
 equity method
 affiliates           (744,568)   (107,767)   (1,021,700)   (503,882)
Loss from continuing
 operations           (803,307)   (249,877)   (1,896,534) (1,167,015)
Loss (income) from
 operations            (27,364)     63,176        (9,314)    180,504
Net loss            $ (830,671)  $(186,701)  $(1,905,849) $ (986,511)

Net loss per common
 operations         $     (.15)  $    (.05)  $      (.35)  $   (.23)
 operations                 --         .01            --        .04
Net loss            $     (.15)  $    (.04)  $      (.35)  $   (.19)

Weighted average
 number of shares
 outstanding                                   5,478,082  5,170,041

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