Raser Secures Two Additional Geothermal Leases.

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 additional geothermal rights in Nevada under the terms of two lease agreements. Over the past several months, Raser has entered into a series of geothermal lease arrangements as part of its strategy to establish a geothermal power generation business.

The properties covered by the new lease agreements are in central Nevada within the vicinity of Raser's other geothermal leases and are in the US Geological Survey's "Known Geothermal Resource Area" (KGRA). The first lease is a 50-year lease, providing Raser with the right to develop and construct geothermal power plants on 155 acres. In the second lease, the lessor assigned to Raser all of its rights under an existing geothermal lease of 240 acres with the United States Department of Interior, Bureau of Land Management ("BLM"). Both leases carry similar financial terms, requiring initial cash consideration, restricted shares of Raser common stock, and royalty payments based on production. The terms are similar to those of other geothermal leases Raser has secured in the area.

Brent M. Cook, CEO of Raser, stated, "Given the national mandate to diversify national energy resources away from petroleum-based products and utilize green, renewable resources, demand for geothermal resources has increased. We are pleased we were able to acquire these properties. We believe that the properties covered by these new leases provide additional geothermal opportunities and help diversify our development efforts. One of these new sites is particularly attractive to us since a geothermal well was previously drilled on the property. This existing well can assist in our documenting thermal gradient information in the area."

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.