Exhibit 99.1

                    COMPETITIVE TECHNOLOGIES SELLS
                   PORTION OF AWARD IN MATERNA CASE

Fairfield, CT - (May 21, 2003) - Competitive Technologies, Inc. (AMEX:
CTT) announced today that the company successfully negotiated an
agreement with Law Finance Group, Inc. (LFG) to sell a portion of CTT's
expected award in the patent infringement judgment against Wyeth's
(NYSE: WYE) American Cyanamid Co. unit. CTT received approximately
$600,000 from LFG in return for an assignment of approximately $1.3
million of litigation proceeds of the anticipated award of nearly $6
million. CTT pursued this opportunity to sell a portion of its interest
in the Materna judgment prior to final resolution to strengthen its
working capital in support of its technology commercialization and
licensing programs.

CTT anticipates that the courts will continue to find in its favor in
this 10-year-old case. The company expects its share of the litigation
award to be approximately $6 million, 18.2% after attorney fees, of the
net proceeds recovered from Wyeth in this $54 million award and will
retain approximately $4.7 million after LFG's interest. Wyeth appealed
the August 13, 2002 decision of U.S. Senior District Court Judge John
Kane of the U.S. District Court for the District of Colorado for a $54
million patent infringement judgment for fraud and unjust enrichment. A
hearing is scheduled for June 3, 2003 at the U.S. Court of Appeals for
the Federal Circuit.  The fact that LFG monetized a portion of the
potential award demonstrates that third party experts ultimately expect
a favorable outcome for CTT.

About Competitive Technologies, Inc.

Competitive Technologies, established in 1968, is a full service
technology transfer and licensing provider focused on the technology
needs of its customers and transforming those requirements into
commercially viable solutions. CTT is a global leader in identifying,
developing and commercializing innovative technologies in life,
digital, nano, and physical sciences developed by universities,
companies and inventors. The global market for technology transfer
services is estimated at $150 billion annually. CTT maximizes the value
of intellectual assets for the benefit of its customers, clients and
shareholders. 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 other 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