Raser Technologies Introduces 500 hp Symetron Enhanced Bus Motor at Clean Heavy-Duty Vehicles Show

PROVO, Utah--March 4, 2004--Raser Technologies, Inc. (OTCBB:RSTG) (the Company) presented a compact 500 hp Symetron(TM) enhanced electric motor at the Clean Heavy-Duty Vehicles show in Palm Springs, California, on February 25-27. The presented motor was a purchased low-cost industrial motor enhanced with Raser's proprietary Symetron(TM) technology.

Some large electric bus applications require two electric motors to drive the vehicle. This prototype motor has the potential to do the work of two conventional motors in some bus applications.

The Clean Heavy-Duty Vehicles show is a showcase for the latest technology being developed for heavy vehicles for military and commercial trucks and buses. Raser(TM) also presented a new P-2 series motor based on Raser's Symetron(TM) technology, that the company believes may be ideal for use in next-generation hybrid trucks and heavy vehicles that require integrated starter generators for commercial and military use.

Raser's CEO, Kraig Higginson, remarked, "These two implementations of Raser's Symetron(TM) technology further demonstrate its scalability and show its potential to improve power density for many types of electric motors used in vehicles from snowmobiles to large buses and delivery trucks."

The heavy vehicle show included presenters and representatives from Volvo Powertrain, Cummins Engine Company, U.S. Army Research, Development and Engineering Command, John Deere ePower Technologies, US EPA, National Vehicle and Fuel Emissions Laboratory, and Ballard Power Systems, among others.

Exhibitors included representatives from:

-- Heavy-duty vehicle manufacturers (on-road, non-road, industrial, bus)

-- Equipment/component suppliers

-- Advanced transportation technology developers

-- Infrastructure developers and suppliers

-- Heavy-duty engine manufacturers

-- Research and development firms

-- Laboratories

-- Government agencies

-- Industry associations

Founded in 2001, Raser Technologies believes that its pending 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 October 14, 2003. These risk factors should be read in conjunction with this release.