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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>UNITED
        STATES</strong></font></div>
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        AND EXCHANGE COMMISSION</strong></font></div>
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        D.C. 20549</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>FORM
        8-K</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
        REPORT PURSUANT TO SECTION 13 OR 15(d)</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>OF
        THE SECURITIES EXCHANGE ACT OF 1934</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>August
        15, 2005 (August 10, 2005)</strong></font></div>
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        Report (Date of earliest event reported)</font></div>
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        <div>&#160;</div>
        <div>
          <hr style="COLOR: #000000" align="center" noshade size="1" width="15%">
        </div>
        <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">&#160;</div>
      </div>
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        TECHNOLOGIES, INC.</strong></font></div>
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        name of registrant as specified in its charter)</font></div>
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                    or other jurisdiction of incorporation)</font></div>
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                    File Number )</font></div>
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                    Employer Identification No.)</font></div>
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        <div align="center">&#160;</div>
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        Bronson Road, Fairfield, Connecticut 06824</strong></font></div>
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        of principal executive offices) (Zip Code)</font></div>
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        255-6044</strong></font></div>
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        Applicable</strong></font></div>
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        Name or Former Address, if Changed Since Last Report)</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
        the
        appropriate box below if the Form 8-K filing is intended to simultaneously
        satisfy the filing obligation of the registrant under any of the following
        provisions:</font></div>
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        communications pursuant to Rule 425 under the Securities Act (17 CFR
        230.425)</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
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        material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
        240.14a-12)</font></div>
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        communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
        240.14d-2(b))</font></div>
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        communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
        240.13e-4(c))</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
        8.01</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Other
        Events.</strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        August
        15, 2005, Competitive Technologies, Inc. (&#8220;CTT&#8221;) announced that on August 10,
        2005, CTT received notice that John B. Nano, its former President and Chief
        Executive Officer had commenced suit in the Superior Court in the Judicial
        District of Stamford, Connecticut seeking the pre-judgment remedy of attachment.
        Mr. Nano&#8217;s suit seeks to attach one of CTT&#8217;s bank accounts in the amount of $1.4
        million to preserve his ability to collect should he succeed on his claims.
        In
        this suit, Mr. Nano alleges that CTT breached his employment contract because
        it
        denied him certain severance benefits when it terminated him on June 14,
        2005.
        Mr. Nano also claims, in the alternative, that CTT violated a proposed but
        unexecuted and undelivered separation agreement and general release which
        it
        sought to negotiate with him at the time of his departure. According to his
        lawsuit, Mr. Nano claims that CTT withdrew the agreement after he communicated
        his acceptance to the Chairman of CTT&#8217;s Board of Directors. The Company denies
        the allegations of the suit and intends to vigorously defend it and oppose
        Nano&#8217;s application for a prejudgment remedy.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
        copy of
        the press release is attached as Exhibit 99.1.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>(c)</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibits.</strong></font></div>
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        <table border="0" cellpadding="0" cellspacing="0" width="100%">

            <tr>
              <td align="left" valign="top" width="16%" style="BORDER-BOTTOM: #000000 thin solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit
                  No.</strong></font></div>
              </td>
              <td align="left" valign="top" width="3%" style="BORDER-BOTTOM: #ffffff thin solid">&#160;</td>
              <td align="left" valign="top" width="62%" style="BORDER-BOTTOM: #000000 thin solid">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Description</strong></font></div>
              </td>
            </tr>
            <tr>
              <td align="left" valign="top" width="16%" style="BORDER-BOTTOM: medium none">&#160;</td>
              <td align="left" valign="top" width="3%" style="BORDER-BOTTOM: medium none">&#160;</td>
              <td align="left" valign="top" width="62%" style="BORDER-BOTTOM: medium none">&#160;</td>
            </tr>
            <tr>
              <td align="left" valign="top" width="16%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
                  99.1</font></div>
              </td>
              <td align="left" valign="top" width="3%" style="BORDER-BOTTOM: medium none">&#160;</td>
              <td align="left" valign="top" width="62%" style="BORDER-BOTTOM: medium none">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                  release dated August 15, 2005.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
        to the requirements of the Securities Exchange Act of 1934, the Registrant
        has
        duly caused this report to be signed on its behalf by the undersigned hereunto
        duly authorized.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

            <tr valign="top" bgcolor="#ffffff">
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">COMPETITIVE
                TECHNOLOGIES, INC.</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:&#160;August
                15, 2005</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;Michael
                D. Davidson</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2" valign="bottom">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="FONT-FAMILY: Times New Roman" size="1">&#160;<font size="2">Name:
</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt" size="3">&#160;</font></font></div>
              </td>
              <td align="left">
                <hr style="COLOR: #000000" align="left" noshade size="2" width="80%"><font size="2">Michael
                D. Davidson</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td colspan="2">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;Title:
                  <font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt" size="3">&#160;</font></font></div>
              </td>
              <td valign="bottom"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Vice
                President and <font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Chief
                Financial Officer</font></font></td>
            </tr>

        </table>
      </div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
      <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
        <div id="FTR">
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EXHIBIT
        INDEX</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
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                <tr>
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                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Exhibit
                      No.</strong></font></div>
                  </td>
                  <td align="left" valign="top" width="3%" style="BORDER-BOTTOM: #ffffff thin solid">&#160;</td>
                  <td align="left" valign="top" width="62%" style="BORDER-BOTTOM: #000000 thin solid">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Description</strong></font></div>
                  </td>
                </tr>
                <tr>
                  <td align="left" valign="top" width="16%" style="BORDER-BOTTOM: medium none">&#160;</td>
                  <td align="left" valign="top" width="3%" style="BORDER-BOTTOM: medium none">&#160;</td>
                  <td align="left" valign="top" width="62%" style="BORDER-BOTTOM: medium none">&#160;</td>
                </tr>
                <tr>
                  <td align="left" valign="top" width="16%" style="BORDER-BOTTOM: medium none">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Exhibit
                      99.1</font></div>
                  </td>
                  <td align="left" valign="top" width="3%" style="BORDER-BOTTOM: medium none">&#160;</td>
                  <td align="left" valign="top" width="62%" style="BORDER-BOTTOM: medium none">
                    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Press
                      release dated August 15, 2005, announcing that CTT had received
                      notice of
                      a lawsuit filed by its former
                      CEO.</font></div>
                  </td>
                </tr>

            </table>
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{"company-data": {"conformed-name": "COMPETITIVE TECHNOLOGIES INC", "cik": "0000102198", "assigned-sic": "6794", "irs-number": "362664428", "state-of-incorporation": "DE", "fiscal-year-end": "0731"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-08696", "film-number": "051028930"}, "business-address": {"street1": "1960 BRONSON ROAD", "street2": "BUILDING 1", "city": "FAIRFIELD", "state": "CT", "zip": "06824", "phone": "2032556044"}, "mail-address": {"street1": "1960 BRONSON ROAD", "street2": "BUILDING 1", "city": "FAIRFIELD", "state": "CT", "zip": "06824"}, "former-company": {"former-conformed-name": "UNIVERSITY PATENTS INC", "date-changed": "19920703"}}
Unassociated Document
UNITED
        STATES
SECURITIES
        AND EXCHANGE COMMISSION
Washington,
        D.C. 20549
FORM
        8-K
CURRENT
        REPORT PURSUANT TO SECTION 13 OR 15(d)
OF
        THE SECURITIES EXCHANGE ACT OF 1934
August
        15, 2005 (August 10, 2005)
Date
        of
        Report (Date of earliest event reported)
COMPETITIVE
        TECHNOLOGIES, INC.
(Exact
        name of registrant as specified in its charter)
Delaware
1-8696
36-2664428
(State
                    or other jurisdiction of incorporation)
(Commission
                    File Number )
(I.R.S.
                    Employer Identification No.)
1960
        Bronson Road, Fairfield, Connecticut 06824
(Address
        of principal executive offices) (Zip Code)
(203)
        255-6044
(Registrant's
        telephone number, including area code)
Not
        Applicable
(Former
        Name or Former Address, if Changed Since Last Report)
Check
        the
        appropriate box below if the Form 8-K filing is intended to simultaneously
        satisfy the filing obligation of the registrant under any of the following
        provisions:
□
Written
        communications pursuant to Rule 425 under the Securities Act (17 CFR
        230.425)
□
Soliciting
        material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
        240.14a-12)
□
Pre-commencement
        communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
        240.14d-2(b))
□
Pre-commencement
        communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
        240.13e-4(c))
Item
        8.01
Other
        Events.
On
        August
        15, 2005, Competitive Technologies, Inc. ("CTT") announced that on August 10,
        2005, CTT received notice that John B. Nano, its former President and Chief
        Executive Officer had commenced suit in the Superior Court in the Judicial
        District of Stamford, Connecticut seeking the pre-judgment remedy of attachment.
        Mr. Nano's suit seeks to attach one of CTT's bank accounts in the amount of $1.4
        million to preserve his ability to collect should he succeed on his claims.
        In
        this suit, Mr. Nano alleges that CTT breached his employment contract because
        it
        denied him certain severance benefits when it terminated him on June 14,
        2005.
        Mr. Nano also claims, in the alternative, that CTT violated a proposed but
        unexecuted and undelivered separation agreement and general release which
        it
        sought to negotiate with him at the time of his departure. According to his
        lawsuit, Mr. Nano claims that CTT withdrew the agreement after he communicated
        his acceptance to the Chairman of CTT's Board of Directors. The Company denies
        the allegations of the suit and intends to vigorously defend it and oppose
        Nano's application for a prejudgment remedy.
A
        copy of
        the press release is attached as Exhibit 99.1.
Item
        9.01
Financial
        Statements and Exhibits
(c)
Exhibits.
Exhibit
                  No.
Description
Exhibit
                  99.1
Press
                  release dated August 15, 2005.
SIGNATURES
Pursuant
        to the requirements of the Securities Exchange Act of 1934, the Registrant
        has
        duly caused this report to be signed on its behalf by the undersigned hereunto
        duly authorized.
COMPETITIVE
                TECHNOLOGIES, INC.
Date: August
                15, 2005
By:
/s/ Michael
                D. Davidson
Name:
Michael
                D. Davidson
Title:
Vice
                President and
Chief
                Financial Officer
EXHIBIT
        INDEX
Exhibit
                      No.
Description
Exhibit
                      99.1
Press
                      release dated August 15, 2005, announcing that CTT had received
                      notice of
                      a lawsuit filed by its former
                      CEO.