FAIRFIELD, Conn., March 4, 2002 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) today announced that the Aerielle Miniature Wireless Stereo Transmitter, a product of CTT client Aerielle Group International, Inc., was selected as a Top 20 product in the United Inventors Association/Inventors' Digest (UIA/ID) national new products hunt.
CTT licenses the Aerielle technology to the consumer electronics industry for integration into their product lines. California-based Aerielle manufactures the transmitter through a CTT license for the customer's private label.
CTT administers the licensing and commercialization program for the patented, miniature wireless stereo transmitter. CTT receives fees from the revenue-based licensing agreement. The device, hardly more than an inch in diameter and 0.50 inch thick, powered by a button-cell battery, is designed to plug into the stereo headphone jack of CD players, MP3 devices, portable cassette players, televisions, computers and more. The user wears a lightweight wireless headset to receive the transmitted stereo signal.
The selected group represents the "Top 20" entries in the nation in the UIA/ID search. Nearly a thousand new product ideas were screened by judges provided by the UIA, a nonprofit educational organization for independent inventors.
According to UIA Executive Director Robert Lougher, "It is the successful accomplishments of all independent inventors that will provide the right medicine for an ailing national economy. New products, mean new industries and new industries mean new jobs and independent inventors have been doing just that since the founding of this great country."
"Our technology allows for small size, no external antenna and low power consumption," said Art Cohen, President of Arielle Group International Inc. "The transmitter, in essence, becomes a broadcasting station, eliminating the need for external wires or an antenna. It has a short pigtail with a standard stereo plug."
"Placement in the Top-20 level is recognition of the marketability of Art's invention," said J. Scott Bechtel, CTT's Vice President, Technology Commercialization, who leads CTT's program. "We look forward to the continued recognition of this low-cost product that makes efficient use of its power supply and offers outstanding stereo fidelity."
"The UIA/ID competition reinforces the reception we have found for the Aerielle transmitter," said Wil Jacques, CTT's Vice President Marketing. "We are honored that the selection board has recognized the wireless convenience and creative uses of this technology."
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 Arizona, 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, Connecticut 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 most recent Form 10-K 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.
Direct product inquiries to: Direct investor inquiries to: J. Scott Bechtel or Wil Jacques Johnnie D. Johnson Competitive Technologies, Inc. Strategic IR, Inc. 1960 Bronson Road 800 Third Avenue, Suite 3700 Fairfield, CT 06430 New York, NY 10022 Tel. (203) 255-6044 Tel. (212) 754-6565 Fax. (203) 254-1102 Fax (212) 754-4333 E-mail: ctt@competitivetech.net E-mail: jdjohnson@strategic-ir.com Web site: http://www.competitivetech.net