Competitive Technologies, Inc.
AMEX : CTT

Competitive Technologies, Inc.

August 15, 2005 18:35 ET

Competitive Technologies Reviews Strategic Directions; Announces Earnings Call to Discuss FY 2005 Results, and Personnel Changes

FAIRFIELD, Conn.--(CCNMatthews - Aug 15, 2005) -

Competitive Technologies, Inc. (AMEX: CTT) announced today that as a result of its recently held Strategic Planning meeting with its Board of Directors, it has created a new strategic vision for the company with the main goal "to be recognized as the leader for licensing technology, commercializing technology, and transferring technology" as a part of focusing on long term profitable growth. One of the first steps approved by the Board of Directors was the filling of a number of new positions.

New Strategic Directions

The Company is directing its strategy to executing operations in an unambiguous, consistent and transparent manner to increase recurring revenue and profit. The need for a more focused strategic vision and implementation plan is a critical part of achieving that goal. Mr. Richard E. Carver, the Board Chairman, emphasized in a June press release that CTT needed to build for the future in a strategic manner that will produce increased shareholder value over the long term. We are clearly committed to using all of our resources to achieve that goal, with a focus on securing more technologies and recurring revenues by expanding our reach, both on the academic side and in industry.

Dr. Freed, CTT's President and Chief Executive Officer stated, "I am pleased to announce the first ever earnings call in the Company's history. We will discuss our fiscal year 2005 results, and our new strategic vision for the Company. We welcome all shareholders to participate in what will become a recurring communications activity." The specific date will be announced, but it will be shortly after our annual earnings release.

Personnel Changes

Dr. Michael Kiley is now Executive Vice President and Chief Technology Officer. Dr. Kiley joined Competitive Technologies in 2004 and his focus has been on CTT's strategic planning process, RFID technology and University business development. Prior to joining CTT, he had over 14 years of operational U.S. Navy flying experience and 10 years of Navy program management experience, the majority of which was at the Office of Naval Research.

Aris D. Despo is now Senior Vice President, Life Sciences. Mr. Despo is responsible for identifying innovative medical/life science technologies, developing commercialization strategies, and managing relationships with universities and industry. He has over 20 years of executive level leadership in the chemical industry. Mr. Despo has been instrumental in managing CTT's successful homocysteine licensing program.

Suzanne N. B. Alent has been appointed to the position of Chief Marketing and Corporate Communications Officer. She brings a strong background in global sales and marketing for technology companies, specializing in networking, hardware, software, computer telephony and information communication. In this newly created position, Ms. Alent will be responsible for all corporate marketing functions and corporate communications. Expanding the focus in these areas is another critical feature of the implementation of CTT's new strategic vision.

Dr. Roger G. Stricker has been engaged as a Senior Consultant, Physical Sciences. He brings over 18 years of experience in the area of Intellectual Property Licensing and Business Development to CTT. Prior to his association with CTT, Dr. Stricker was the Intellectual Property and Licensing Vice President of Lucent Technologies. His responsibilities included licensing the worldwide patent portfolio of Lucent Technologies and Bell Laboratories. Dr. Stricker will be fully engaged going forward in assisting CTT in all aspects of the implementation of the new strategic vision.

About Competitive Technologies, Inc.

Competitive Technologies, established in 1968, is a full service technology transfer and licensing provider focused on the technology needs of its customers and transforming those requirements into commercially viable solutions. CTT is a global leader in identifying, developing and commercializing innovative technologies in life, electronic, nano, and physical sciences developed by universities, companies and inventors. CTT maximizes the value of intellectual assets for the benefit of its customers, clients and shareholders. Visit CTT's website: www.competitivetech.net

Statements about our future expectations, including development and regulatory plans, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of applicable Federal Securities Laws, and are not guarantees of future performance. If and when used herein, the words "anticipate," "believe," "intend," "plan," "expect," "estimate," "approximate," and similar expressions, as they relate to us or our business or management, are intended to identify such forward-looking statements. These statements involve risks and uncertainties related to market acceptance of and competition for our licensed technologies, growth strategies, operating performance, industry trends, and other risks inherent in our business, including those set forth in Item 7 under the caption "Risk Factors," in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on October 29, 2004, and other factors that may be described in our other filings with the SEC, and are subject to change at any time. Our actual results could differ materially from these forward-looking statements. We undertake no obligation to update publicly any forward-looking statement.

Direct inquiries to:

Contact Information