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Raser Technologies Inc. Installs a Hybrid Electric Motor that Could Resolve Snowmobiling Issues Raised by Environmentalists

PROVO, Utah--March 2, 2004--Raser Technologies Inc. (OTC BB: RSTG) (the "company") has installed its Symetron(TM) technology into a motor that could address issues of noise and pollution raised by environmentalists who advocate banning snowmobiles in Yellowstone National Park. The first of a series of tests to confirm the quietness, cleanliness, and lightweight, high-power density of Raser's Symetron(TM) motor technology was held Feb. 18, 2004 at Aspen Grove near Sundance Ski Resort in Utah. KSL TV coverage of the test is posted at http://www.rasertech.com/ksl_video_news_release_100k.html.

The company tested a modified Polaris snowmobile in which the two-stroke combustion engine was replaced with a Symetron(TM)-enhanced electric motor. Raser designed the snowmobile as a "proof of concept" prototype to demonstrate the advantages of Symetron(TM) technology that could benefit all types of vehicles with its clean technology, power and affordable cost.

The company next plans to compete against faster machines in the Jackson Hole Hill Climb in March 2004 in an effort to showcase Raser's 45-kg Symetron(TM)-enhanced electric motor. Raser asserts that the motor, which delivers up to 120 hp, is equal or greater in power to many popular two-stroke combustion snowmobiles, in addition to running quietly and cleanly.

Raser Technologies' marketing vice president, David West, remarked, "We are excited about the prospect of offering recreational enthusiasts a quieter, cleaner snowmobile option with as much as or more horsepower as compared to the two-stroke motors currently being sold. In our recent test, a Polaris snowmobile was modified by replacing its two-stroke combustion engine with a Symetron(TM) Enhanced electric motor developed by Raser(TM). The snowmobile operates at levels over 600 times quieter than an unmodified motor. The Symetron(TM) technology provides a solution enabling snowmobiles to be used in National Parks, like Yellowstone, which require clean and quiet operation."

Founded in 2001, Raser Technologies believes that its patents cover breakthrough electric motor technology. This technology more effectively harnesses one of nature's most useful forms of energy and delivers it in a low cost, lightweight electric drive system for industry, home, and electric vehicles. A list of the potential risk factors that may affect the company's prospects may be found in the company's most recent 8K filing dated Oct. 1, 20034, 2003. These risk factors should be read in conjunction with this release.

This press release may contain forward-looking statements including the company's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, realization of customer contracts, strength of the company's pending intellectual property, changes in anticipated earnings of the company and other factors detailed in the company's filings with the SEC. In addition, the factors underlying company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date they are given. The company does not undertake to update them; however, it may choose from time to time to update them and if it should do so, it will disseminate the updates to the investing public.