Raser Technologies Groups Symetron Technology Demonstration Programs to Expedite Testing Implementation Schedules

PROVO, Utah--Jan. 20, 2004--Raser Technologies Inc. (OTC BB: RSTG) announces that it has test demonstration agreements with major automotive, electric motor manufacture, aerospace and military contractors to conduct test demonstration programs installing the company's Symetron(TM) advanced motor technology into electric motors supplied by the manufacturers. The testing programs include an initial numerical examination conducted by Raser's engineering team that predicts performance gains, followed by installation and evaluation. The programs are comprised of individual tests and group tests planned for the Detroit area, followed by an Asia test and a Europe test.

The company plans to introduce its technology into hybrid electric motors for heavy vehicles and delivery trucks at the upcoming "Clean Heavy-Duty Vehicle Show" in Palm Springs, Calif. next month.

Raser Technologies' Marketing Senior Vice President, David West, remarked, "Following the introduction of the Symetron(TM) advanced motor technology at the EVS-20 Show in Long Beach, we've experienced a remarkable response by manufacturers. The demand is so great that we are moving to bundle test demonstration programs. We are now preparing a demonstration for a group in Detroit, shortly followed by demonstration programs in Europe and Asia. We look forward to announcements by automobile and electric motor manufacturers regarding our technology at the conclusion of these tests. We are moving toward global licensing opportunities with these expanded test programs."

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.

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.

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.