FAIRFIELD, Conn., Aug. 8, 2002 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) announced significant new improvements in the Aerielle(tm) Miniature Wireless FM Stereo Transmitter technology, a product of CTT client, Aerielle Group International, Inc. The advances include FCC Part 15 compliance, improved sound quality, increased battery life and an extension of the current product line. Aerielle added an automatic turn-off battery-saving feature, and also announced completion of its headset receiver design to match the transmitter. The circuit includes a low noise front-end receiver optimized for the transmitter's broadcast channels allowing for cleaner reception of a broader audio spectrum.
CTT is the exclusive licensing agent for Aerielle's wireless audio technology and receives fees from the revenue-based licensing agreement. A limited number of non-exclusive licenses are available by field of use and include access to the patented transmitter technology and complete Aerielle technology transfer package. Antonio Precise Products Manufactory, Ltd. (ATO), a Hong Kong corporation for consumer wireless audio headsets, was granted the first non-exclusive license to the Aerielle technology in May 2002. For more information on Aerielle Group International visit their website at www.aerielle.com.
Art Cohen, President of Aerielle Group International, Inc. commented: "The objective is to obtain additional licensees. Improved sound quality and increased battery life along with other changes made in order to assure passing FCC Part 15 tests move us towards that goal. Our engineers successfully completed the design changes in one step in order for our licensee, ATO, to include them in its planned 2002 Christmas season production launch."
"This project is on track and exceeding our expectations," stated Scott Bechtel, CTT's VP of Technology Commercialization. "The Aerielle team developed and executed some great improvements. ATO will display the production transmitter and headset at the 2003 Consumer Electronics Show (CES) in Las Vegas in January 2003. In addition to formal licensee exhibits at CES, we plan to meet with other prospective licensees for this technology."
Wil Jacques, CTT's VP, Marketing, added: "CTT is excited about the improvements made to the Aerielle technology. We have confidence that our continued marketing campaign will secure additional licensees in our identified market segments and fulfill CTT's strategic objective of turning technology into commercial dollars."
About Competitive Technologies, Inc.
Competitive Technologies, established in 1968, is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences, digital technologies and electronics. CTT's specialized expertise and experience make it a valuable partner to assist technology-rich universities, inventors and companies, of all sizes, to maximize the value of their intellectual assets. Visit CTT's website: www.competitivetech.net
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, including those set forth in Item 1 of the Company's most recent Form 10-K and 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.