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Competitive Technologies to Commercialize Optical Technology for LED Lighting Market

Posted on: Monday, 18 September 2006, 09:01 CDT

Competitive Technologies, Inc. (AMEX: CTT) today announced that it has signed an exclusive, worldwide service and representation agreement with Illumitex, LLC to license optical technology for the light emitting diode ("LED") industry. The technology is a fundamental and enabling primary optical device that significantly improves the effectiveness of High Brightness LEDs ("HBLEDs").

An LED is a semiconductor device that produces narrow-spectrum light when a current is applied. The advantages of LEDs over traditional light sources are that they have an extremely long life span and they do not generate significant heat. Illumitex's patent-pending LED optics technology increases brightness and efficiency of HBLEDs through its unique optical properties and packaging design. This technology has a number of potential applications across a variety of sectors, including flat panel televisions, portable electronic devices, and digital projectors.

The HBLED market has experienced tremendous growth in recent years, reaching $3.9 billion in 2005. (source: Strategies Unlimited). With an annual projected growth rate in the range of 15-20%, the HBLED market represents a significant opportunity for the Illumitex technology. "Most of the previous LED research focus has been on the primary diode and electronics while this technology is focused on enhancing the performance of existing HBLEDs. This late stage optical technology can be implemented quickly by manufacturers of HBLED semiconductor chips. The unique and proprietary design uniformly doubles the intensity of the device without increasing power consumption, size, or manufacturing costs," commented Joseph Ausikaitis, Senior Business Development Executive for Competitive Technologies.

"As we work to aggressively expand our portfolio of available technologies, the HBLED innovation with proven effectiveness is a strong addition to our physical sciences offering," added D.J. Freed, Ph.D., President and Chief Executive Officer of Competitive Technologies. "Commercializing late-stage technologies is one of CTT's strengths, and we look forward to bringing this exciting technology to the global marketplace."

About Illumitex, LLC

Illumitex was founded in early 2005 and is headquartered in Austin, Texas. The company's self-funded activities to date have included two successful phases of prototype development, readying its LED optical device for production. The management team represents over 60 years of combined experience in optics, electronics and entrepreneurial business management.

About Competitive Technologies, Inc.

Competitive Technologies, established in 1968, is a full service technology transfer and licensing provider, focused on bringing the intellectual property assets of its clients to the marketplace. CTT specializes in identifying, developing and commercializing innovative technologies in a variety of areas, including life and physical sciences, electronics, and nanotechnologies. Through its global distribution platform, CTT maximizes the value of its clients' intellectual property assets. For more information, please visit: www.competitivetech.net.

Statements about our future expectations, including development and regulatory plans, and all other statements in this press release, other than historical facts, are "forward-looking statements" within the meaning of applicable Federal Securities Laws, and are not guarantees of future performance. If and when used herein, the words "may,""will,""should,""anticipate,""believe,""intend,""plan,""expect,""estimate,""approximate," and similar expressions, as they relate to us or our business or management, are intended to identify such forward-looking statements. These statements involve risks and uncertainties related to our ability to obtain rights to market technologies, market acceptance of and competition for our licensed technologies, growth strategies and strategic plans, operating performance, industry trends, and other risks and uncertainties inherent in our business, including those set forth in Item 7 under the caption "Risk Factors," in our most recent Annual Report on Form 10-K for the year ended July 31, 2005, filed with the Securities and Exchange Commission ("SEC") on October 13, 2005, and other factors that may be described in our 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.

Source: Business Wire

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