We prove that, for a space X equipped with a principal CP-bundle P- X, the Z_2-graded P-twisted K-theory of X can be computed via a 'universal coefficient' isomorphism K_*~P(X)= K_*(P) O K_o(CP) Z, where the K_0 (CP )-module structure of Z is obtained from a certain ring homomorphism ε : K_0(CP)-Z.
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