Composite Technology to release solution for overloaded grid

IRVINE, Calif., Oct. 6, 2003 — Composite Technology Corp. (CTC) announced that it has shipped its new proprietary aluminum conductor composite core (ACCC) to a major North American cable manufacturer to be wrapped in specially designed aluminum wires.

The finished cable will be presented for demonstration within two weeks. The new cable is a simple, cost effective and rapidly deployable solution that can be retrofitted on existing transmission towers. ACCC represents an immediate solution for overloaded grid lines, as it can deliver up to twice as much power when compared to traditional cables of identical size.

Plans call for installation to begin at strategically chosen demonstration facilities during the month of September.

CTC’s new high-capacity/reduced-sag ACCC cable technology is now ready for commercialization and deployment on grid systems in the United States and Canada. The first commercial conductors are planned for delivery to prospective users in the last quarter of 2003. CTC’s technology has been characterized by some industry leaders as “an elegant solution” to many of the power grid congestion problems.

State and Federal Energy officials acknowledge that overloaded transmission lines are the primary factor which led to the worst blackout in the nation’s history; which has underscored the need to modernize the power grid through more efficient technologies. President Bush recently stated that part of the problem was “an antiquated system” to distribute electricity nationally. “It’s a wake-up call,” the President said. “The grid needs to be modernized; the delivery systems need to be modernized.”

CTC is an Irvine, CA-based company serving domestic and international electric utilities with high performance advanced conductors for transmission and distribution lines.

Its conductor will carry up to twice the power of comparable size conventional cables. In domestic and international markets CTC is establishing joint ventures or aluminum wrapping contracts among local cable manufacturers with an initial focus on the large and growing markets of the United States, Canada, China, Europe, Mexico and Brazil.

ACCC cables have been specifically designed to allow transmission owners, utility companies, and power producers to easily replace existing transmission lines without modification to the towers, thereby avoiding the deployment of new towers and rights-of-way that are costly, time consuming and may impact the environment. See: www.compositetechcorp.com.

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