Raser Secures Geothermal Leases in Utah.

Raser Continues to Expand Resource Acquisition for Geothermal Power Generation Business

PROVO, Utah -- Raser Technologies, Inc. (NYSE Arca: RZ) announced today that it has secured geothermal rights in Utah under the terms of seven lease agreements. These leases mark Raser's first geothermal leases outside of Nevada and are part of its strategy to establish a diversified geothermal resource portfolio.

The properties covered by the lease agreements are in Southern and Western Utah and amount to 13,887 acres. The properties are also generally associated with hot springs, hot wells and other geothermal phenomena. The leases carry ten-year terms and are renewable for additional periods based on development activity or upon the payment of minimum rental payments. Financial terms of the leases are undisclosed.

"By expanding our resource footprint, we not only diversify our geothermal base, but we also broaden our interconnection and market access to the power purchasing community," stated Brent M. Cook, Raser's CEO. "The properties covered by these new leases exhibit the characteristics we look for in our properties. The existing warm water wells and hot springs suggest to us that these resources have excellent potential for our geothermal power plant development plans."

About Raser Technologies

Raser is a publicly-traded technology licensing and development company operating in two business segments. Raser's Transportation and Industrial Technology segment focuses on using Raser's Symetron[TM] technology to improve the efficiency of electric motors and other applications. Raser's Power Systems segment is seeking to develop new geothermal electric power plants and bottom-cycling operations, incorporating licensed heat transfer technology and Raser's Symetron[TM] technology. Further information on Raser may be found at: www.rasertech.com.

Cautionary Note Regarding Forward-Looking Statements 

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, but not limited to, statements regarding: our beliefs about the potential for geothermal power generation on our leased properties; our belief about our ability to exploit the available geothermal resources; our beliefs about the strength and enforceability of our agreements; and our beliefs about the geothermal market generally. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the competitive environment and our ability to compete in the industry; our ability to adapt our technology for geothermal applications; the strength of our intellectual property; our inability to attract, train and retain key personnel; and such other risks as identified in our quarterly report on Form 10-Q for the quarter ended September 30, 2006, as filed with the Securities and Exchange Commission, and all subsequent filings.

All forward-looking statements in this press release are based on information available to us as of the date hereof, and we undertake no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.