Fairfield, CT (October 23, 2006) – Competitive Technologies, Inc. (AMEX: CTT), a leader in intellectual property licensing, and Extremity Innovations, Inc., a medical device company, are pleased to announce they have signed a strategic alliance agreement. Extremity Innovations, based in Memphis, Tennessee, was formed earlier this year by four industry veterans to develop medical device technology solutions for diseases and injuries of the extremities, biologic product requirements, wound management and prosthetic devices. Under the agreement, CTT will provide Extremity Innovations with access to technologies.

"As we actively seek to expand our product offerings in the orthopaedic and wound care markets, we are confident that our strategic alliance with Competitive Technologies will enable us to more effectively locate appropriate intellectual property licensing or acquisition candidates," commented Jack Parr, Ph.D., Chairman and Chief Executive Officer of Extremity Innovations, Inc. Joe Clift, President of Extremity Innovations added, "We are impressed with the caliber of CTT clients and are optimistic that this relationship will help us speed time-to-market for new and exciting medical devices."

"We are thrilled to be working with such an esteemed partner in Dr. Parr," said Aris Despo, Senior Vice President of Life Sciences for CTT. Dr. Parr, a world renowned figure in the orthopaedic and medical device community, is a member of the advisory council of the National Institutes of Health and formerly served as Executive Vice President and Chief Scientific Officer of Wright Medical Technology and Vice President of Research at Zimmer, Inc. "We first met Dr. Parr in 2003 and have greatly valued his professional relationship and guidance as we have grown CTT's network and presence in discovering and offering of technologies for the medical device market."

"We look forward to working with Extremity Innovations and identifying technologies that fit with their core objectives," said D.J. Freed, Ph.D., President and Chief Executive Officer of Competitive Technologies, Inc. "I believe that our depth of knowledge in the medical device market, combined with our vast network of relationships with universities and other sources of technology, will prove fruitful to Extremity Innovations as they execute their business plan."

About Extremity Innovations

Extremity Innovations, Inc (EI) was formed in 2006 with the goal of providing wound and soft tissue treatments to the podiatric and orthopaedic clinician. EI's mission to develop and market innovative medical devices of the highest quality designed to address unmet needs of patients and providers in the following areas: diseases and injuries of the extremities, biologic products, wound management, joint replacement products and prosthetic devices. EI is committed to producing leading products that are highly attractive to the surgeon community and offer rapid healing and future prevention to the patient.