Raser Concludes Successful Financial Analyst Day

Business Wire, June 13, 2008

PROVO, Utah -- Raser Technologies, Inc. (NYSE Arca:RZ) today announced that it concluded a successful Financial Analyst Day focused on its geothermal energy business. Raser's executive management team and industry specialists discussed geothermal energy and the Company's progress and strategic initiatives for its geothermal power plants.

Dr. Greg Nash, a Research Professor at the Energy & Geoscience Institute (EGI), discussed the various models and science used by Raser to determine optimal geothermal resources. Also discussed by Raser was its large geothermal resource portfolio which has yielded 8 projects to date and sufficient estimated resources to initiate an additional 10 to 15 projects each year over the next decade.

Steve Brown, Raser's Executive Vice President of Construction and Engineering gave an update on the first wave of 8 projects under development. The first Utah project, for which Raser recently held a groundbreaking ceremony, is completing its second and third wells. Once the production wells have been flow tested, independent third party analysis of the resource will be issued, which is one of the final conditions required prior to Merrill Lynch closing the construction funding for the plant under the terms of the Commitment Letter recently announced for the renewable energy project. Mr. Brown stated that the Company currently has three drilling rigs working on various projects it intends to have completed by year end, with the first plant projected to be online in October.

During the day, presentations were also made by Ed Fichtel from UTC Power, a United Technologies Company, discussing the modular, rapid deployment strategy supported by the UTC PureCycle units; Maddie Reicher from Evolutions Markets Inc., a power brokering company discussing the current trends of power pricing and Raser's pipeline of power purchase agreements; and other Raser management members discussing its renewable energy production efforts.

"We are starting to fill our geothermal pipelines," stated Brent M. Cook, CEO of Raser Technologies. "Our project pipeline now has eight projects in the first wave with a number projects being prepared for the second wave. We have a number of agreements in various stages of negotiation and regulatory approval in our PPA pipeline. In our equipment pipeline we have received over 40 of the 200 UTC power generating units ordered and expect to start sending the first 50 to the Thermo site soon. And we are nearing completion of all the conditions to close on the first construction funding from Merrill Lynch in our funding pipeline. We expect to be very busy over the next few quarters as we complete this first wave of projects and begin to load subsequent waves in our pipeline."

The event was recorded and will be available to the public in an archived webcast within the next several days on the Company's website at www.rasertech.com.

About Raser Technologies

Raser (NYSE Arca:RZ) is a publicly traded, environmentally focused technology licensing and development company operating in two business segments. Raser's Power Systems segment is seeking to develop clean, renewable geothermal electric power plants and bottom-cycling operations, incorporating licensed heat transfer technology and Raser's Symetron[TM] technology developed internally by its Transportation and Industrial Technology segment. Raser's Transportation and Industrial Technology segment focuses on extended-range plug-in-hybrid vehicle solutions and using Raser's award-winning Symetron[TM] technology to improve the torque density and efficiency of the electric motors and drive systems used in electric and hybrid-electric vehicle powertrains and industrial applications. 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 preliminary drilling results; 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; our beliefs about our ability to successfully negotiate power purchase 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; our ability to secure necessary permits; the strength of our intellectual property; our ability 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 March 31, 2008, as filed with the Securities and Exchange Commission, and all subsequent filings.