CWRUObserver.com -Financial News and Headlines - NYSE, Nasdaq, OTC's

[sublime]

RZ 7.68 Raser Secures Five New Geothermal Leases in Utah
Jun 25, 2007 8:00:00 AM
Copyright Business Wire 2007

PROVO, Utah--(BUSINESS WIRE)--

Raser Technologies, Inc. (NYSE Arca: RZ) announced today that it has secured additional geothermal rights in Utah under the terms of five lease agreements.

Raser has secured the rights to the geothermal resources on 9,370 acres located in two counties in Southern Utah. The lease terms are up to ten years and are renewable for additional periods based on development activity or upon the payment of minimum rental payments. The financial terms of the leases are undisclosed. These leases bring the total land Raser has under lease in Utah alone for geothermal development to over 37,000 acres.

"We have established what we believe to be one of the most attractive undeveloped geothermal resource portfolios in the U.S.," stated Brent M. Cook, Raser's CEO, "and we plan to continue expanding our portfolio as we identify new, attractive properties to ensure that we have the geothermal resources sufficient to meet our goals in the development of renewable power plants."

About Raser Technologies

Raser (NYSE Arca: RZ) is a publicly-traded, green-focused 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 clean, renewable 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; our ability to secure necessary permits; 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 March 31, 2007, 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.

Source: Raser Technologies, Inc.

----------------------------------------------

Raser Technologies
Inc.
Investor Relations
801-765-1200
[e-mail]
or
Porter
LeVay & Rose
Inc.
Andrew Berlin
Account Executive
Jeffrey Myhre
VP - Editorial
212-564-4700
or
Tom Gibson
VP - Media Relations
201-476-0322
Fax: [phone]
www.plrinvest.com
[e-mail]