FAIRFIELD, Conn., Dec. 12, 2000 (PRIMEZONE) -- Competitive Technologies, Inc. (AMEX:CTT) reported today that its client NTRU Cryptosystems, a developer of public key cryptography, announced its Security Toolkit for Palm (tm) handheld devices. The advanced encryption technologies of NTRU (pronounced "En' true), makes it a leader in security technology for embedded wireless and media applications.
NTRU reported that Jerry J. Jalaba, Vice President, Enterprise, Palm, Inc. commented "Palm OS applications increasingly need robust, high performance security." He went on to say, "NTRU delivers one of the highest levels of protection with the fastest performance available. We are pleased to welcome their new security solution to the Palm developer community."
NTRU stated that its toolkit for Palm handhelds is the first to implement Rijndael, the latest Advanced Encryption Standard recently selected by the National Institute of Standards and Technology.
Scott Crenshaw, CEO of NTRU, commented, "Palm OS developers now have an advanced security toolkit designed for their needs. NTRU eliminates the need to sacrifice fast performance for security. Advanced security is now available for the Palm OS, in a package delivering the responsiveness handheld users demand."
Frank R. McPike, Jr., CTT President and CEO, said, "NTRU's Palm application is a major step in the use of the Rijndael standard. CTT will benefit through both its approximate 10% equity share of NTRU and the royalties it receives from NTRU revenues. CTT was instrumental in providing NTRU with a suite of custom incubation services at its founding."
Other NTRU applications include securing wireless data communications, digital music and video distribution, mobile e-commerce and Internet applications. The technology was developed by a team of Brown University mathematics professors.
NTRU indicates that it delivers the fastest, smallest, and most secure public key cryptography solutions protecting communications and content. NTRU operates more than 100 times faster than competitive systems at equivalent security levels, and is easily implemented in low-cost hardware devices. Visit www.ntru.com.
Palm is a trademark of Palm, Inc. or its subsidiaries.
About Competitive Technologies, Inc.
Competitive Technologies is a global leader in identifying, developing and commercializing innovative life sciences, physical sciences and digital technologies. Competitive Technologies' specialized expertise and experience make it a valuable partner for inventors, companies and universities of all sizes. CTT has been responsible for closing hundreds of licensing agreements. CTT clients and licensees include: Sony, Matsushita Electric Industrial, the University of Colorado, NTRU Cryptosystems, Inc., Palatin Technologies, Inc. and Ribozyme Pharmaceuticals, Inc. Competitive Technologies, Inc. is based in Fairfield, Connecticut and has affiliates in Osaka, Japan and London, England.
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, 2000 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.