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COMPOSITE TECHNOLOGY ANNOUNCES NEW ACCC CABLE SALE FOR CHINA’S ELECTRICAL GRID:

Order Highlights Growing Acceptance in Chinese Market...

IRVINE, CA,December 18, 2006 – Composite Technology Corporation (CTC) (OTC Bulletin Board: CPTC) is pleased to announce a new order for 282 kilometers of ACCC Conductor destined for the Chinese electrical grid. The order issued to our subsidiary, CTC Cable Corporation, by Far East Composite Technology Company, a subsidiary of Jiangsu New Far East Cable Corporation, is valued in excess of $4.1 million and calls for delivery in the first quarter of 2007.
This purchase order, consisting of two sizes of ACCC conductor with connecting hardware, represents the first transaction called for under the terms of a newly signed Memorandum of Understanding which contemplates the signing of a multi-year year contract, wherein the first year’s purchases require a minimum purchase of 600 kilometers of ACCC per quarter for distribution in China. The minimum quarterly purchases are to escalate after the first year. The composite core for this order will be manufactured in CTC Cable’s ISO9001:2000 certified facility in Irvine, California and aluminum stranding will take place at one of CTC’s certified suppliers.

“This order once again underscores the commitment of CTC and Far East to serve the rapidly growing electrical infrastructure needs in China to increase grid capacity. Chinese utilities have been quick to recognize the exceptional performance of our ACCC conductor and they represent our fastest growing customer base,” stated Benton Wilcoxon, Chairman and CEO of Composite Technology Corporation.

About CTC:

Composite Technology Corporation, based in Irvine, California, USA develops, manufactures and sells high performance electrical transmission and renewable energy generation products through its subsidiaries:

•CTC Cable Corporation produces composite rod for use in its proprietary ACCC aluminum conductor composite core. ACCC conductors virtually eliminate the sag in power lines caused by high current and high line temperatures. ACCC conductors also reduce electricity line losses, and have demonstrated significant savings in capital and operating expenses when substituted for other conductors. ACCC conductors enable grid operators to eliminate blackouts and brownouts, providing a ‘reserve electrical capacity’ by operating at higher temperatures. ACCC conductors are an innovative solution for reconductoring power lines, constructing new lines and crossing large spans. ACCC composite rod is delivered to qualified conductor manufacturers worldwide for local ACCC conductor production and resale into local markets.

•∑ DeWind, Inc., and DeWind Ltd (formerly EU Energy Ltd), produce, sell, and license the DeWind series of wind energy turbines including the 50Hz D6 rated at 1.25 megawatts (MW) and the 50Hz D8 rated at 2MW, both noted for their reliability. In 2007, the first new 2MW D8.2 turbines are planned to be delivered to North American customers from assembly operations at TECO Westinghouse in Texas and in Germany. The D8.2 utilizes the advanced WinDrive® hydrodynamic torque converter developed by Voith AG with a synchronous AC generator that is able to connect directly to the grid without the use of power conversion electronics. The DeWind D8.2 will be available in both a 60Hz and 50Hz version.

For further information visit our websites: www.compositetechcorp.com & www.eunrg.com. For Investor Relations Contact: James Carswell, [phone]

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, the ability of the company to convert quotations and framework agreements into firm orders, general economic conditions, the availability of funds for capital expenditure by customers, availability of timely financing, cash flow, securing sufficient quantities of essential raw materials, timely delivery by suppliers, successful integration of the EU Energy acquisition, ability to produce the turbines and acquire its components, ability to maintain quality control, collection-related and currency risks from international transactions, the successful outcome of joint venture negotiations, or the Company's ability to manage growth. Other risk factors attributable to the Company's business may affect the actual results achieved by the Company including those that are found in the Company's Annual Report filed with the SEC on Form 10-K for fiscal year ended September 30, 2005 and subsequent Quarterly Reports on Form 10-Q and subsequent Current Reports filed on Form 8-K and including those pertaining to EU Energy that will be included with or prior to the filing of the Company’s next Quarterly or Annual Report.

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