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1. Ensure that you have downloaded the latest CTP package.
2. (Recommended) Back up your database as described in Database ConfigurationBackup, Re-Creation, and Porting.
3. Shut down the Tomcat running the earlier version.
4. In your Tomcat installation, navigate to /webapps/em/
5. Delete your existing license file.
6. (If using a MySQL or Oracle database) Copy the mysql-connector or ojdbc jar file from WEB-INF/lib/ to a temporary location.
7. Delete /webapps/em/ and /work/Catalina/localhost/em/. Note that all useful information (besides the license) is persisted in the database. 
8. Move the existing em.war to your temporary location. Keep the backups outside of the /webapps/ folder so Tomcat doesn’t try to use them.
9. (Optional) Reset persisted data from the database (create a backup first):
• HyperSQL
  Delete the hsqldb files for CTP and create them again in the web UI.
   
• MySQL
  Drop the database and create a new one with the mysql_db.sql script from EM.2.7:
  mysql –u root –p
drop database em;
quit
 
• Oracle
  Drop the database and create a new one as follows:
  sqlplus SYS AS SYSDBA
DROP TABLESPACE EM_TEMP INCLUDING CONTENTS AND DATAFILES;
DROP TABLESPACE EM_DATA INCLUDING CONTENTS AND DATAFILES;
DROP USER EM CASCADE;
quit
  
  Contact your Oracle DBA for assistance.

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See Integrating Virtualize Server and/or SOAtest Server with CTP.