FAIRFIELD, Conn., Feb. 28, 2001 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today the appointment of J. Scott Bechtel as Vice President, Technology Commercialization. Bechtel brings a unique background in advanced fiber optics, microelectronic systems, wireless and networking technologies to CTT. Bechtel will focus on Competitive Technologies' acquisition and commercialization of advanced electronic systems and software technologies.
He has successfully managed emerging technologies with TRW, CTS Corp., and Maxtek, an affiliate of Tektronix, Inc., and holds fiber optic patents used on the F22 Advanced Tactical Fighter and Comanche Helicopter. Bechtel has an undergraduate degree in physics and a Master of Science in Industrial Administration from Carnegie Mellon University.
"Scott's experience complements our strong portfolio of digital and electronic technologies," said Frank R. McPike, Jr., President and CEO of CTT. "He has helped early-stage technologies achieve success, establishing both customer and funding relationships. Scott built a dot-com company which provided content to AOL. He will be expanding our technology client base to provide both licensing and Acorn investment opportunities."
Bechtel said, "Being part of the CTT team will allow me to assist a wide variety of technology-based companies. CTT has an exceptionally strong team with resources available to support aggressive growth. I am truly excited about the opportunities ahead with CTT."
McPike continued, "Scott's appointment is in line with CTT's objective of adding professionals to the CTT team and continuing the identification of valuable technology opportunities. In the evaluation of new Acorn opportunities, he provides CTT with a successful background in technology commercialization and the expertise to help grow those investments."
About Competitive Technologies, Inc.
Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. Competitive Technologies' specialized expertise and experience make it a valuable partner for inventors, companies and universities of all sizes. CTT has been responsible for closing hundreds of licensing agreements. CTT clients and licensees include: Sony, Matsushita Electric Industrial, the University of Colorado, the University of Illinois, Digital Ink, Inc., NTRU Cryptosystems, Inc., Palatin Technologies, Inc. and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, and has affiliates in Osaka, Japan and London, England.
Statements about the Company's future expectations, including development and regulatory plans, and all other statements in this document other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws, and are not guarantees of future performance. These statements involve risks and uncertainties related to market acceptance of and competition for the Company's licensed technologies and other risks and uncertainties inherent in CTT's business, including those set forth in Item 1 of the Company's Form 10-K for the year ended July 31, 2000, and other factors that may be described in CTT's filings with the SEC, and are subject to change at any time. The Company's actual results could differ materially from these forward-looking statements. The Company undertakes no obligation to update publicly any forward-looking statement.