FAIRFIELD, Conn., Oct. 26, 2001 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that it is partnering with Aerielle Group International, Inc., based in Cupertino, California, and will administer the licensing and commercialization program for a new patented, miniature wireless stereo transmitter. CTT will receive fees from the revenue-based licensing agreement. The new device, hardly more than an inch in diameter and 0.50 inch thick, powered by a CR2032 watch battery, is designed to plug into the stereo headphone jack of CD players, MP3 devices, portable cassette players, televisions, computers and more.
CTT is prepared to license the Aerielle technology to the consumer electronics industry for integration into their product lines, or Aerielle will manufacture the transmitter through a CTT license for the customer's private label.
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, and no external antenna. Users need only to plug the transmitter into the host device to have the use of true wireless capabilities. The unit meets FCC limited-range broadcast requirements and avoids interference with other users. A choice of channels is also offered, making it possible to avoid local radio interference when necessary. The new Aerielle transmitter is intended for use with either low cost receiver headsets, or with off-the-shelf wireless stereo radio headsets.
"The patented antenna technology of the transmitter eliminates the inconvenience of a second pigtail antenna, typically required by competing devices," said J. Scott Bechtel, CTT's Vice President, Technology Commercialization, who will lead CTT's program. "The proprietary circuit design and packaging approach results in a low-cost product that makes efficient use of its power supply and offers outstanding stereo fidelity. The design avoids more expensive technologies while maintaining the features most important to consumers."
Bechtel continued, "The new technology is also ideal for two-way communication in wireless headsets for cell phones, fast food sites, and call centers. CTT will work closely with companies interested in licensing the many applications."
"Informal, consumer demonstrations have generated enthusiasm for the Aerielle transmitter," said Wil Jacques, CTT's Vice President, Marketing. "Consumers are excited about the wireless convenience and its creative uses. The stereo transmitter is likely the smallest and lowest cost device of its kind."
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.