FAIRFIELD, Conn., Oct. 25, 2000 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that it has been recognized as one of Connecticut's 50 fastest-growing technology companies by The Connecticut Technology Council (www.ct.org) and Deloitte & Touche LLP. The presentation was made last night at the fourth annual Connecticut Technology Fast 50 Awards ceremony held at the Quick Center for the Arts at Fairfield University.
Laura Kent, President of The Connecticut Technology Council emphasized the important role that technology companies play in the state's economy. As a group, the Fast 50 companies added 2,300 new jobs and $2.3 billion in revenues to the state's economy between 1995 and 1999. The Connecticut Fast 50 serves as a regional partner of the Fast 500, a program honoring the 500 fastest-growing technology companies in the nation.
The winners who were honored at yesterday's ceremony represent several industry segments in which CTT is active, including software, electronics, telecommunications, bioscience technology and medical devices.
Commenting on the Fast 50 honor, Frank R. McPike, President of CTT said, "We are gratified by the recognition awarded CTT by The Connecticut Technology Council. We will continue to build on our past achievements, constructing a strong platform for global technology commercialization, moving with optimism into the future."
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, 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 Form 10-K for the year ended July 31, 1999 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.