Competitive Technologies Acquires Equity Position and Board Seat in NTRU Cryptosystems, Inc.

Business Editors/High Tech Writers

FAIRFIELD, Conn.--(BUSINESS WIRE)--April 10, 2000

NTRU Receives $11 Million from Investors Greylock and Sony Corporation

Competitive Technologies (AMEX: CTT) today announced that it has acquired 3,161,983 shares of NTRU Cryptosystems, Inc (www.ntru.com), approximately 10% of NTRU's equity on a fully diluted post-funding basis, (with pre-emptive rights to maintain its equity ownership interest up to an IPO, principally in exchange for CTT's agreement to significantly reduce its royalty participation on NTRU's sale of CTT licensed products). In addition, John Sabin, CTT's Chairman, will join the NTRU board.

CTT has worked with NTRU and its founders since 1997 and acquired its original royalty interest by providing NTRU with custom incubation services, including patent filing support, interim business management, technical marketing, licensing and initial capital sourcing services.

Coincident with the CTT transaction, NTRU announced that it had received an equity investment of $11,000,000 from a team of investors led by Greylock, a private venture capital firm (www.greylock.com) and Sony Corporation (ADR NYSE: SNE). This will provide NTRU with the financial resources to widely market and deploy the NTRU public key cryptography system.

"NTRU's world class mathematicians and cryptographers developed a new generation of memory efficient high speed public key encryption solutions which offer enhanced security features particularly suited for wireless applications, a market that is projected to grow from $800 million in 2000 to $5.8 billion in 2004," said Frank McPike, CTT's President. "We look forward to participating with the founders, Sony, and Greylock in the success of this investment."

NTRU has reported that it has the world's fastest and smallest secure public key cryptography system. The system delivers patent-pending security solutions protecting content and communications in applications such as wireless telephony, digital music and video distribution, e-commerce, and imbedded applications.

NTRU has reported that William S. Kaiser, a general partner in Greylock, will serve on NTRU's board of directors. Mr. Kaiser currently sits as a director on the boards of Authentica, Inc., Digital Media on Demand (DMOD), Sightpath, Mainspring Communications, Open Market Clarus, Red Hat, Student Advantage, Wildfire Communications and WildTangent.

As reported, Greylock is a private venture capital firm founded in 1965 with committed capital of over $1 billion under management. Over the past 35 years, Greylock has provided equity capital and support to more than 300 developing companies, many of which have gone on to become leaders in their respective industries. Of these companies, over 150 have become publicly held with a current market capitalization in excess of $80 billion, while another 100 have merged successfully with other companies.

Additional information may be found in NTRU Cryptosystems, Inc.'s release that is available on their web site www.ntru.com.

About Competitive Technologies, Inc.

Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. CTT's "ACORN" services enable the transition from concept to corporate reality. Competitive Technologies' specialized expertise and experience makes it a valuable partner for inventors, companies and universities of all sizes. CTT's has been responsible for closing hundreds of licensing agreements. CTT clients include: SONY, Lucent Technologies, Matsushita Electric Industrial and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut and has affiliates in Osaka, Japan and London, England. For more information, see 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 related to market acceptance of and competition for the Company's licensed technologies and other risks and uncertainties inherent in CTT's business, including those set forth in Item 1 of the Company's Form 10-K for the year ended July 31, 1999 and other factors that may be described 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.