DGAP-News: Competitive Technologies Chairman Provides 2011 Update to Shareholders

Competitive Technologies, Inc.

08.02.2011 16:53
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FAIRFIELD, Conn., 2011-02-08 16:52 CET (GLOBE NEWSWIRE) –Competitive Technologies, Inc. (OTCQX:CTTC) today announced that its Chairman,
William Reali, updated shareholders on his view of the Company. The open letter
to shareholders is posted on the Company–s website: www.competitivetech.net and
also shown below.

To: All Shareholders

From: WILLIAM REALI, CHAIRMAN
COMPETITIVE TECHNOLOGIES, INC.

–I want to share with you how energized I and my fellow Board Members are about
the coming year. We have made significant progress in establishing a solid
operating foundation and reorganization of your Company.

–Under your CEO Johnnie D. Johnson–s leadership the Company has quickly
embraced teamwork as its philosophy, with all employees and consultants working
together to improve the Company and the outlook for its future.

–We have lowered our fixed cost significantly by moving from our previous
office suite of 11,000 sq. ft. to a new office suite of 2,700 sq. ft. For those
who are not aware, when we were initially elected Board members in 2007, the
Company was operating from an office suite of over 11,000 sq. ft. with a
seven-year lease. Johnnie Johnson negotiated a lease buy-out with our landlord
and agreed to smaller space in one of their other office buildings saving
approximately $660,000 over the next two years. Our new lease is for a
three-year period of time.

–The office staff in Fairfield, CT has been reduced to three employees. This
was done by prioritizing and dividing essential duties among the staff and
streamlining other duties through upgrading the software. Some other
responsibilities such as storage and shipment of inventory have been
outsourced. We thank Marie Cataldo, Donna Mays, and Laurie Murphy for their
very hard work on the reorganization and move.

–With cost reductions and other distractions behind us, the Company has renewed
its focus on sales of the Calmare(r) medical device and on upgrading its
portfolio of other potential revenue-producing technologies. We have several
new products that we are evaluating for both their fit with our strategic
strengths and their potential for producing revenue. We will be announcing
those in the near future.

–Our EVP, Aris Despo, has revamped the sales and marketing program for our
Calmare(r) medical device and has been traveling constantly both nationally and
internationally. He has implemented a U.S. marketing plan that includes over 20
commissioned sales representatives working under his direct supervision and
guidance.

–If you have not done so, please visit our upgraded website www.calmarett.com.
It has already proven itself to be a much better resource for individuals and
physicians desiring to learn about our Calmare(r) device and its capabilities.
The success of our Calmare(r) device is fostering patient demand for expanded
treatment opportunities. Doctors are spreading the word of the success of
Calmare(r) for treating patients and we are receiving calls requesting additional
information, demonstrations or treatment locations of the Calmare(r) pain therapy
device. This increased interest is a precursor to the anticipated addition of
pain clinics to several more regions of the country in 2011.

–Aris has sent two new trainers to be trained in Rome by Professor Marineo,
adding to the availability and flexibility of training staff to support sales.
Also, Tim Conley, a consultant to the Company, has been working closely with
the VA and DOD and has tapped into his contacts to expedite the use of the
Calmare(r) device for the benefit of our veterans and military service personnel.

–Aris is recruiting world-renowned key opinion leaders and working closely with
Medical Technology Partners in drafting guidelines for insurance reimbursement
codes and submitting our application to the American Medical Association for a
code unique to our Calmare(r) medical device for the treatment of cancer pain.

–Internationally, we have completely revamped our distribution model by
terminating distributors that were not meeting our distribution standards. We
have also engaged Umberto Marangoni, an experienced medical device salesperson,
to directly head our international marketing program. Umberto has significant
contacts in numerous countries and has already made inroads in several
countries in Europe and the Middle East, excluding countries subject to US
sanctions. Umberto and Aris have been working closely and are a great team for
the sales expansion both in the US and international markets.

–To safeguard you, our shareholders, we implemented a shareholders– rights
agreement to protect the shareholder value by eliminating the possibility of
someone acquiring control of the Company at the current low stock price. To
ease the confusion of an unusual fiscal year, the Company will now, beginning
in 2011, report financially on a calendar year basis.

–As a Company, we are galvanized and poised for a great year. We started the
year with lower overhead costs allowing the Company to maximize profits from
the product sales in 2011. We have the foundation in place and will build a
successful and prosperous Company.–

About Competitive Technologies

Competitive Technologies, established in 1968, provides distribution, patent
and technology transfer, sales and licensing services focused on the needs of
its customers and matching those requirements with commercially viable product
or technology solutions. CTTC is a global leader in identifying, developing and
commercializing innovative products and technologies. CTTC–s principal
technology is the non-invasive Calmare(r) pain therapy device, which uses the
biophysical –Scrambler Therapy– technology, and was developed in Italy by
CTTC–s client, Professor Giuseppe Marineo. The Calmare device is currently
being manufactured for sale by CTTC–s partner, GEOMC Co., Ltd. of Seoul, Korea.
For more information on the device, visit www.calmarett.com. Visit CTTC–s
website: www.competitivetech.net. The Company–s new mailing address is: 1375
Kings Highway East, Suite 400, Fairfield, CT 06824. Phone (203.368.6044) and
fax (203.368.5399) remain unchanged.

Statements made about our future expectations are forward-looking statements
and subject to risks and uncertainties as described in our most recent Annual
Report on Form 10-K for the year ended July 31, 2010, filed with the SEC on
October 27, 2010, and other filings with the SEC, and are subject to change at
any time. Our actual results could differ materially from these forward-looking
statements. We undertake no obligation to update publicly any forward-looking
statement.

CONTACT: Direct inquiries to: Jean Wilczynski, IR Services, LLC
Tel: 860.434.2465, Email: info@corpirservices.com
News Source: NASDAQ OMX

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Language: English
Company: Competitive Technologies, Inc.

United States
Phone:
Fax:
E-mail:
Internet:
ISIN: US2045121074
WKN:

End of Announcement DGAP News-Service

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