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Microcap & Penny Stocks : Composite Technology (CPTC)

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To: ldo79 who wrote (176)	6/27/2008 11:21:33 AM
From: Skywatcher	Read Replies (1) of 203

THEY LIKE IT MIKEY!...up 20% this morning Composite Technology Completes Equity Placement With Credit Suisse Friday June 27, 8:33 am ET IRVINE, CA--(MARKET WIRE)--Jun 27, 2008 -- Composite Technology Corporation (CTC) (OTC BB:CPTC.OB - News) is pleased to announce that Credit Suisse Securities (Europe) Limited (Credit Suisse) has exercised its option to invest a further $40 million. Prior to this investment, Credit Suisse owned 9.3% of the outstanding shares of CTC. This sale resulted in net proceeds to CTC of $40 million. After this investment, Credit Suisse owns approximately 23.7% of the outstanding shares of the company. Further details will be filed in a timely manner in a Form 8-K report with the Securities and Exchange Commission. Benton Wilcoxon, Chairman and CEO of Composite Technology, stated, "We are very pleased that Credit Suisse has chosen to exercise its option to invest further in our company. This is a strong endorsement of CTC's market position and the technological advantages of ACCC conductors and DeWind D8.2 turbines have when compared to competing products. We are well positioned for growth and this investment should facilitate the negotiation and completion of significant DeWind D8.2 orders as well as expand the growth in ACCC conductor business worldwide."

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