Composite Technology Announces Proposed Settlement of Three Claims and Rescheduled Plan Confirmation Hearing

Composite Technology
Corporation (CTC or Company) (OTC Bulletin Board: CPTCQ), a leading developer
of high-performance composite core cables for electric transmission and
distribution lines, announced today that the hearing to consider confirmation
of the Company's plan of reorganization to be heard before Judge John E. Ryan,
U.S. Bankruptcy Court, has been rescheduled to be heard at 10:00 am (PDT)
October 17, 2005.
The Company is pleased to announce that it has signed an agreement with
the City of Kingman, Kansas which if approved by the Bankruptcy Court and
fully performed by both parties, will significantly reduce claims against the
Company's bankruptcy estate, will facilitate the Company's emergence from
bankruptcy, and will provide the Company with a valuable new customer for its
goods and services. The agreement contains provision for Kingman's purchase
of 70 linear miles of the Company's ACCC conductor and related hardware.
The Company is pleased to announce that it has signed an agreement with
John Nunley, which if approved by the Bankruptcy Court will significantly
reduce claims against the Company's bankruptcy estate and facilitate the
Company's emergence from bankruptcy.
The Company is pleased to announce that it has filed with the Bankruptcy
Court its proposed order approving the settlement of litigation between the
Company and Ascendiant Capital Group, Inc., Mark Bergendahl, and Bradley
Wilhite (collectively "Ascendiant"). The Company believes the settlement is
in the best interest of the bankruptcy estate and is pleased that no objection
was filed in connection with the settlement. As part of this settlement,
Ascendiant's ballots voting to reject the Company's reorganization plan will
be replaced with votes accepting the plan.

About CTC:
Composite Technology Corporation is an Irvine, California based company
that develops, produces, tests and markets novel products based upon composite
materials technology. Its subsidiary, CTC Cable Corporation, produces and
markets patent pending high performance composite core conductor cables for
electric transmission and distribution lines. CTC's novel ACCC cable is
superior to existing conventional conductor products of the same diameter in a
number of key performance areas, including: Up to twice the ampacity of
conventional cables; virtually eliminates high-temperature sag; uses
conventional installation methods and tools; reduces construction costs on new
lines by requiring fewer structures; may be retrofitted on existing structures
to increase current capacity; non-corrosive core eliminates bi-metallic
corrosion; and reduces line losses compared with same diameter conventional
cables at same operating temperatures. ACCC cable is also sold by General
Cable as TransPowr(TM) ACCC in the U.S. and Canada. Connecting hardware for
ACCC is sold by FCI-Burndy Products. More information can be found at
http://www.compositetechcorp.com or by contacting James Carswell, Director of
Investor Relations, at 760-416-8628.

This press release may contain forward-looking statements, as defined in
the Securities Reform Act of 1995 (the "Reform Act"). The safe harbor for
forward-looking statements provided to companies by the Reform Act does not
apply to Composite Technology Corporation (Company). However, actual events
or results may differ from the Company's expectations on a negative or
positive basis and are subject to a number of known and unknown risks and
uncertainties including, but not limited to, competition with larger
companies, development of and demand for a new technology, risks associated
with a startup company, risks associated with international transactions,
general economic conditions, availability of funds for capital expenditure by
customers, availability of timely financing, cash flow, timely delivery by
suppliers, or the Company's ability to manage growth. Other risk factors
attributable to the Company's business segment may affect the actual results
achieved by the Company and are included in the Company's Annual Report filed
with the Commissioner on Form 10KSB for fiscal year ended September 30, 2004.

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