Raser Technologies, Inc. Annual Shareholder Meeting Rescheduled to June 28, 2005

PROVO, Utah--May 9, 2005--Raser Technologies Inc. (OTCBB:RSTG) ("Raser" or the "Company"), a technology licensing company that develops and licenses advanced electric motor, controller and related technologies, today announced that Raser's board of directors has rescheduled its 2005 Annual Meeting of Shareholders to Tuesday, June 28, 2005. The meeting date has been reset in order to provide at least 20 calendar days before the date of the annual meeting in order to comply with proxy notification requirements.

The board has also set June 6, 2005 as the new record date for the annual meeting. Raser expects to begin mailing proxy materials on or about June 8, 2005. The materials will be available on the company's Web site (www.rasertech.com) beginning the day of mailing.

The meeting will begin at 2 p.m. MDT at the Riverside Country Club in Provo, Utah. Official business will conclude by 2:30 p.m. Management will then conduct a 30-minute presentation regarding the direction and goals of the Company. After the management presentation, there will be a brief question and answer period. Those shareholders wishing to submit questions may do so by writing and sending it to: Mr. William Dwyer, Chief Financial Officer, Raser Technologies, Inc., 5152 North Edgewood Drive, Suite 375, Provo, Utah 84604 or e-mailing Mr. Dwyer at investorrelations@rasertech.com.

About Raser Technologies

Formed in 2003, Raser Technologies believes that its pending patents and proprietary intellectual property cover breakthrough technologies. Raser's Symetron(TM) technologies more efficiently harness's electrical energy in electric motors, controllers, alternator and generator technologies. Application of Symetron(TM) generally requires minor changes to existing products, but yields significant increases in power, performance and efficiency without the use of exotic materials. Further information on Raser Technologies, Inc. may be found at: www.rasertech.com.

Raser filed a preliminary proxy statement with the Unites States Securities and Exchange Commission on April 19, 2005 in connection with its 2005 annual meeting of shareholders. Information regarding the identity of the persons who may, under SEC rules, be deemed to be participants in the solicitation of Raser shareholders for the 2005 annual meeting, and their interests in the solicitations, are set forth in the preliminary proxy statement. Raser will be filing a definitive proxy statement and other relevant documents. WE URGE INVESTORS TO READ THE DEFINITIVE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION.