Exhibit 99.1


               COMPETITIVE TECHNOLOGIES ANNOUNCES
                      SALE OF ELS INTERESTS

Fairfield, CT - (August 6, 2002) - Competitive Technologies, Inc.
(AMEX: CTT) announced today the sale of their ownership interest
in the intellectual property of E. L. Specialists, Inc. (ELS) to
MRM Acquisitions, LLC for $200,000 in cash. CTT will write off
the remaining balance of its investment in July 2002 for a net
charge of $263,000.

During 2001 and 2002, CTT loaned $1,056,300 to ELS, $956,300 in
cash and $100,000 in services, through a series of bridge
financing agreements. Subsequently, ELS has been unable to
arrange additional financing to continue operating. In January
2002, CTT recorded an impairment charge against this loan and its
carrying value was approximately $463,000 as of April 30, 2002.

CTT's recently elected President and CEO, John B. Nano, stated,
"CTT's newly established strategy will not include investments
where we are a primary or lead investor, such as our investment
in ELS. Our strategy going forward is based on leveraging CTT's
core strengths in licensing technology by utilizing our
experience, skills and expertise to build a stream of royalties
generating consistent earnings growth. CTT will focus on end-user
customer requirements, and armed with this "wish list" deliver an
appropriate technology solution. Our strategic objective is to
turn technology into commercial dollars, thus leading to
increased shareholder value."

About Competitive Technologies, Inc.

Competitive Technologies, established in 1968, is a global leader
in identifying, developing and commercializing innovative life
sciences, physical sciences, digital technologies and
electronics. CTT's specialized expertise and experience make it a
valuable partner to assist technology-rich universities,
inventors and companies, of all sizes, to maximize the value of
their intellectual assets. Visit CTT's website:
http://www.competitivetech.net

Statements about the Company's future expectations, including
development and regulatory plans, and all other statements in
this document other than historical facts are "forward-looking
statements" within the meaning of applicable Federal Securities
Laws and are not guarantees of future performance. These
statements involve risks and uncertainties, including those set
forth in Item 1 of the Company's most recent Form 10-K and in
CTT's filings with the SEC, and are subject to change at any
time. The Company's actual results could differ materially from
these forward-looking statements. The Company undertakes no
obligation to update publicly any forward-looking statement.

Direct inquiries to:
Johnnie D. Johnson, Strategic IR, Inc.
E-mail: jdjohnson@strategic-ir.com
Tel. (212) 754-6565;
Fax (212) 754-4333
E-mail: ctt@competitivetech.net