Article: Coil Tubing Technology, Inc. Provides Update on Suit against Grifco, Grifco's Former President and DTC.

SPRING, Texas -- As previously disclosed in a press release dated August 1, 2008, Coil Tubing Technology, Inc. ("CTBG") (OTC:CTBG), its majority owned subsidiary, Coil Tubing Technology Holdings, Inc. ("CTTH") and its President & Chief Executive Officer, Jerry Swinford, have filed suit against Grifco International, Inc. (GFCI.PK) ("Grifco"), Depository Trust & Clearing Corporation ("DTC") and the former president of Grifco, James Dial (collectively the "Defendants") in the Montgomery County District Court.

In connection with the suit, on July 30, 2008, the Court issued a temporary restraining order to restrain the DTC from adjusting shareholder accounts and ...

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