8-K

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934




         Date of Report (Date of earliest event reported): July 14, 2004


                            ULTRASTRIP SYSTEMS, INC.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


         Florida                          000-25663              65-0841549
- ----------------------------           --------------       -------------------
(State or other jurisdiction             (Commission          (IRS Employer
 of incorporation)                       File Number)        Identification No.)


                 3515 S.E. Lionel Terrace, Stuart, Florida 34997
     ----------------------------------------------------------- ----------
               (Address of principal executive offices) (Zip code)


       Registrant's telephone number, including area code: (772) 287-4846





Item 5.  Other Events and Regulation F-D Disclosure.

         On July 14, 2004, UltraStrip Systems, Inc. announced that its Board of
Directors selected J.C. "Jim" Rushing III as its new Chairman of the Board of
Directors. The Company also announced the resignation of William A. Owens as
Company Chairman, Chairman of the Board of Advisors, and Company director. In
addition, Gene Rainis resigned as a Company director.

         A copy of the press release making such announcement is filed herewith
as Exhibit 99.1 and is incorporated by reference herein.

Item 7.  Financial Statements and Exhibits.

         (c)  Exhibits

         99.1   Press Release dated July 14, 2004


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                                    SIGNATURE

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                    ULTRASTRIP SYSTEMS, INC.


                                    By: /s/ Stephen R. Johnson
                                        ---------------------------
                                    Name:  Stephen R. Johnson
                                    Title: Chief Executive Officer



Dated:  July 14, 2004

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                                  EXHIBIT INDEX
                            -------------------------

         99.l              Press Release dated July 14, 2004

EX-99.1

                                                                    EXHIBIT 99.1

PRESS RELEASE                                        3515 SE Lionel Terrace
                                                     Stuart, FL 34997
                                                     Tel:  772-287-4846
                                                     Fax:  772-781-4778
                                                     www.ultrastrip.com


For Release: July 14, 2004
Contact:  Mickey Donn, Sr. VP of Operations
772-287-4846 ext. 105 or email, mdonn@ultrastrip.com

                       JIM RUSHING NEW ULTRASTRIP CHAIRMAN

         Stuart, Florida, July 14/PR Newswire/--UltraStrip Systems, Inc.
("UltraStrip"), the developer of innovative robotic ship hull cleaning
equipment, announced that James C. "Jim" Rushing, III was selected by the Board
of Directors as its new Chairman of the Board. Former Chairman Admiral William
A. Owens recently became President and CEO of Nortel Networks following his
resignation as Chairman of the Board of Directors. Admiral Owens had served as
Chairman of the Board of Directors since August 18, 2000. Prior to accepting the
position with Nortel, Owens had assumed appointment to become Chairman of
UltraStrip's Advisory Committee, but will no longer serve due to commitments at
Nortel.

         Mr. Rushing, whose background includes extensive management and
financial expertise, is the CEO of Corporate Resources Consulting Group, Inc. of
Brentwood, Tennessee has served as an UltraStrip Board Member since September
29, 2003.

         In addition, the Company announced the resignation of Eugene C. Rainis,
who had served as a member of the Board of Directors since August 21, 2002.
Prior to his election to the Board of Directors, Mr. Rainis served as a member
of the Advisory Committee since February 22, 2001.

         UltraStrip develops and manufactures robotic solutions to environmental
problems in the surface preparation and coatings removal industry and has
developed portable, self-contained filtration equipment for possible use in
homeland security. UltraStrip's patented robotic water jetting systems are
designed to provide an environmentally safe coatings removal process in both
heavy marine and above ground storage tank applications. The robotic systems
represent a significant innovation in the surface preparation of ships and other
structures.

         UltraStrip's patented systems have been used on the USS Eisenhower, a
U.S. Navy Nimitz-class aircraft carrier, the USS Cole, the U.S. Navy destroyer
attacked in Yemen in October 2000, the USS Doyle, a Navy guided missile
destroyer, the USS Shreveport, LPD-17, Carnival and NCL cruise ships, as well as
in the Lisnave Ship Yard in Portugal, one of the world's busiest commercial
yards for the heavy marine industry. UltraStrip's M3500 system in North America
is utilized exclusively through Shaw-Robotic Environmental Services, L.L.C., a
majority owned company of the Shaw Group, Inc. (NYSE:SGR) of Baton Rouge,
Louisiana. Additional information on UltraStrip can be obtained through its
website www.ultrastrip.com.

Forward Looking Statements: This press release may include information that
could constitute forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Any such
forward-looking statements may involve risks and uncertainties that could cause
actual results to differ materially from any future results encompassed within
the forward- looking statements. Factors that could cause or contribute to such
differences include those matters disclosed in the Company's Securities and
Exchange Commission filings.


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