CTT Initiates Review to Confirm Laboratories are Properly Licensed to Conduct Homocysteine Tests

Jury Finds in Favor of CTT Client On Patent Infringement Case

Fairfield, Connecticut, UNITED STATES

FAIRFIELD, Conn., Nov. 26, 2001 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced today that it has begun a review of all current and non-current licenses issued to testing laboratories to determine full compliance with licenses previously issued for homocysteine assays. This action is in response to a favorable decision by the jury reconfirming the validity of patent rights on homocysteine assays in a trial in the U.S. District Court for the District of Colorado. The jury found in favor of CTT and its licensee Metabolite Laboratories, Inc.

The jury found that Laboratory Corporation of America Holdings (LabCorp) had contributed to and induced infringement of the homocysteine assay patent and that the infringement was willful. CTT and its client the University of Colorado were awarded initially $1.0 million for infringement and expect the court to address in the next two weeks issues of interest on delayed payments, legal cost, and punitive damages, as well as continuing royalties. CTT will retain approximately $400,000 of the initial award.

"We believe there are labs which are withholding royalty payments or have not obtained proper licenses to conduct homocysteine assays," said Frank R. McPike, Jr., President and CEO of CTT. "This is an important assay that physicians use as a diagnostic test to determine elevated homocysteine levels and related vitamin deficiencies in patients with vascular disease, pregnancy complications, and dementia including Alzheimer's and other diseases. The University of Colorado and the associated research teams deserve to be compensated for their fine work."

"CTT is gratified that this matter has been brought to closure", said Mr. McPike. "We are especially pleased that the jury has found in favor of the University and the inventors in this litigation and also found that the patent was valid. The American Medical Association published an August study suggesting that, if every person with coronary heart disease began taking B12 and folate, over 310,000 lives would be saved in just the next ten years, and that even more lives would be saved if every male over 45 and every female over 55 began taking substantial amounts of B12 and folate," Mr. McPike continued.

On May 4, 1999, Metabolite Laboratories, Inc. (MLI) and CTT (collectively plaintiffs) filed a complaint and jury demand against LabCorp in the United States District Court for the District of Colorado. The complaint alleged, among other things, that LabCorp owed plaintiffs royalties for homocysteine assays performed beginning in the summer of 1998 that fell within the claims of a patent owned by CTT. CTT licensed the patent non-exclusively to MLI and MLI sublicensed it to LabCorp. Plaintiffs claimed LabCorp's actions constituted breach of contract and patent infringement. The complaint demanded that LabCorp perform all its obligations under its agreement, to cure past breaches, to provide an accounting of wrongfully withheld royalties and to pay future royalties as appropriate. Plaintiffs also sought unspecified money and exemplary damages and attorneys' fees, among other things. In earlier released financial reports, CTT had recorded known legal expenses it incurred in this suit but had recorded no revenue for the withheld royalties.

Homocysteine has been shown to be a highly sensitive indicator of B12 and/or folate deficiency. Physicians, using the homocysteine assay as a diagnostic test, are reporting that elevated levels of homocysteine resulting from vitamin B12 and folate deficiency have been associated with vascular disease, Alzheimer's, rheumatoid arthritis and other diseases.

CTT has licensed the patent covering performance of assays for homocysteine to several clinical laboratories. The patent is derived from discoveries made by CTT's clients Drs. Robert Allen and Sally Stabler from the University of Colorado and the late Dr. John Lindenbaum from Columbia University.

CTT earns royalties on homocysteine assays performed. Approximately 20 million Americans -- one cardiovascular patient in every three -- have elevated homocysteine levels indicative of a deficiency in vitamin B12 and folate. Currently, less than 1 million homocysteine assays are performed each year.

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 experiences 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.