Competitive Technologies Obtains Rights for EZSpeech™ ABI Software
Fairfield, CT (April 13, 2006) - Competitive Technologies, Inc. (AMEX: CTT) announced today that it has signed an agreement with AccuSpeech™ Inc. to commercialize AccuSpeech's EZSpeech ABI (American Business Idioms) software. The software program, which teaches commonly used English business terms and phrases with emphasis on proper pronunciation, was originally developed by Bell Labs based on patented language recognition, real-time phonetic scoring algorithms and business content provided by AmEnglish.com LLC. The software provides a detailed description of each business idiom including several examples, a pronunciation guide and audio samples.
The representation agreement covers various countries including South Korea, Western and Eastern Europe and Russia. In addition, CTT has non-exclusive rights to commercialize the product in China, Australia, India and North and South America.
"The EZSpeech ABI software is targeted at a growing number of non-native English speaking business executives that need to improve their English-speaking accent and learn business idioms common in the American business culture," commented Aris D. Despo, CTT's Senior Vice President of Business Development. CTT is offering market opportunities for this technology through country-specific channel agreements. Ted Kutrumbos, CTT's Business Development Executive, will have responsibility for managing US distribution channels.
"EZSpeech ABI software allows a non-native speaker to record practice utterances and provides visual and auditory feedback on the accuracy of the student's sound production, as compared to the reference recordings," stated Peter DeVito, Ph.D., AccuSpeech’s President and CEO. "It uniquely identifies pronunciation improvement needs with respect to incorrect phoneme production, misplaced stress on words, and imprecise relative duration of phonemes. The software also enables users to listen to the model production at different playback speeds to improve their listening comprehension. EZSpeech ABI engages three essential language skills: listening, speaking and reading, enabling users to actively use and improve their language mastery. We have worked with CTT over the past two years in the development of EZ Speech ABI, while it was part of Bell Labs, and we are excited about continuing our CTT partnership to expand uptake of AccuSpeech's technology on a global basis," concluded Dr. DeVito.
About AccuSpeech Inc.
AccuSpeech Inc., with offices in the Talent Technology Center, 12 Crown Plaza, Hazlet, New Jersey, is a leading provider of Speech and Language Assessment and Development software. Its flagship EZSpeech products have been designed for a variety of computer-based training applications. The company has applied decades of research work in speech recognition, Text-to-Speech Synthesis, and Phonetic analysis, performed at Bell Labs, to successfully bring its speech and language products to market. AccuSpeech has developed products based primarily on its patented speech recognition and its unique industry leading scoring technology.
About Competitive Technologies
Competitive Technologies, established in 1968, is a full service technology transfer and licensing provider focused on transforming the Intellectual Property assets of its clients into commercially viable solutions. 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 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 market acceptance of and competition for our licensed technologies, growth strategies, 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.
IR Services, LLC
Tel: 860.434.2465
Email: This email address is protected, Javascript must be enabled to view it
