Fairfield, CT (October 29, 2007) - Competitive Technologies, Inc. (AMEX: CTT) today announced that net revenues for the quarter ended July 31, 2007 increased to $1.5 million from $1.4 million in the same period of the prior year.

"We are focused on CTT's future and believe we are moving towards an improving picture as we aggressively work to grow revenue, increase shareholder value, and reduce costs, implementing our targeted goal of a $2 million annual cost reduction for recurring items," said John B. Nano, CTT's Chairman, President and CEO. "Our cash position remains strong at $6.6 million with no long-term debt. We have strengthened our portfolio of innovative technologies with the addition of the pain management, stress reduction and UAD tubular-connection technologies, as well as the recently announced portfolio of LED patents and the Radio Alert Warning System. The pain management technology has received Medical Device CE certification allowing it to be sold in Europe, and our partner Daeyang E&C. Co., Ltd. will be investing about $1 million to design and tool the therapy's multi-processor device for worldwide institutional and home markets."

Mr. Nano added, " Our objective is to be profitable by early calendar 2008, as these technologies contribute to a performance turn-around. We have reduced extraneous litigations, and obtained new technologies to build revenue. Since the shareholder-elected Board change in February 2007, we have restructured our organization to lower overhead costs, cutting our senior level staff from 13 to six. Unfortunately, previous management in the first six months of fiscal 2007 added significant staff and office costs, but did not grow revenue."

The increase in fourth quarter revenue was partially due to funds received through the sale of a portion of CTT's video compression technology portfolio, offset by the combination of lower homocysteine assay royalties and licensee-withheld homocysteine assay royalties. CTT is pursuing litigation against Carolina Liquid Chemistries Corporation and others for alleged infringement of the homocysteine assay, and seeking to recover due, but withheld, royalties from other companies.

The quarter had a net loss of $2.2 million, or $0.28 per share, compared to a net loss of $0.3 million, or $0.04 per share for same period of the prior year. Contributing to this loss were several items totaling almost $1.5 million, including CTT's write-off of about $0.95 million for its investment in Agrofrut, E.U. and related investigation costs, litigation regarding fees owed CTT by Palatin for CTT's sexual dysfunction technology, and the video compression sale fee.

Revenue for the full fiscal year ended July 31, 2007 was $4.2 million, compared to $5.2 million for the prior fiscal year. The decrease in the full year revenue was primarily due to the lower homocysteine assay royalties and licensee-withheld royalties.

Net loss for the full year was $8.9 million, or $1.11 per share, compared to a net loss of $2.4 million, or $0.31 per share for the prior year. Contributing to this loss were items totaling approximately $2.0 million, including charges from vesting of stock options of previous management and employees accelerated by the 'change of control' feature, the video compression sale fee, and litigation with Palatin, plus the write-off of the Agrofrut investment and related investigation costs of about $0.95 million. In addition, there were costs of about $2.9 million including expenses associated with the prior Board and management's annual meetings and proxy contest, amounts paid settling an employee suit claiming $5.1 million for $1.0 million and related legal expenses, and costs from staff reductions, settling two employee suits, and canceled consulting agreements.

Mr. Nano stated, "Our goal is to make CTT a profitable organization. The Board, management and staff are working together towards restoring stockholder value, and utilizing our strong sales team and effective global alliances. We expect to meet our goal by aggressively marketing the pain management therapy, stress reduction device, UAD tubular-connection, LED portfolio, and Radio Alert Warning System technologies, as well as our bone biomaterial, Lupus diagnostic and monitoring, and cholesterol trapping and regeneration to drive revenue growth, improve profitability and create shareholder value. Our full technology portfolio may be viewed on our website."

Consolidated Statement of Operations