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RZ News CORRECTING and REPLACING Raser Technologies Announces Resignation of CFO William Dwyer

PROVO, Utah--(BUSINESS WIRE)--First graph, first sentence of release should read: Raser Technologies, Inc. (NYSE Arca: RZ), a technology licensing company established to develop and license advanced electric motor, controller and related technologies, announced today that its Chief Financial Officer, William Dwyer, has resigned effective December 4, 2006. (sted Raser Technologies, Inc. (NYSE Arca: RZ), a technology licensing company established to develop and license advanced electric motor, controller and related technologies, announced today that its Chief Financial Officer, William Dwyer, has resigned effective December 4, 2007.)

The corrected release reads:

RASER TECHNOLOGIES ANNOUNCES RESIGNATION OF CFO WILLIAM DWYER

Nationwide Search for Replacement Underway

Raser Technologies, Inc. (NYSE Arca: RZ), a technology licensing company established to develop and license advanced electric motor, controller and related technologies, announced today that its Chief Financial Officer, William Dwyer, has resigned effective December 4, 2006. A search for his successor has begun.

Brent M. Cook, Chief Executive Officer of Raser, said, “Bill has played an important role in Raser’s development since he joined us in August of 2004. He has helped us navigate the waters of Sarbanes-Oxley compliance as well as prepared us for accelerated filer status with the SEC. Moreover, we joined the NYSE Arca exchange on Bill’s watch, and he played a significant role in that effort. We wish him all the best in his future career.”

Cook continued, “Raser is entering a new phase in its growth, and this will mean a significant increase in treasury activities. This will include developing relationships for joint ventures and limited project financing for certain geothermal site acquisition and plant construction. Our nationwide search for a replacement for Bill will center on the specialized skill sets necessary to achieve these goals.”

Dwyer said, “I value my time at Raser, particularly the opportunity to work with the current leadership team. I believe that my successor will find that the systems and standards at Raser will facilitate effective financial management. The time has come for me to move on and to leave Raser.”

About Raser Technologies

Raser is a publicly-traded technology licensing company focused on improving the efficiency of rotating electromagnetic and heat transfer applications within the Transportation, Industrial and Power Generation markets. Further information on Raser may be found at: www.rasertech.com.

Cautionary Note

This press release may contain 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 the Company's beliefs about its technology, and the value of such technology; the status and enforceability of the Company's intellectual property; the allocation of capital and the company's commitment to the development and testing of its technologies; its applications, performance characteristics and the business prospects for such technology and the Company; the Company’s belief about the strength of its existing and potential business relations.

Any such forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including but not limited to, our operating history and history of losses, our inability to compete effectively in the marketplace, our inability to properly finance the company, our inability to establish certain business relationships, our inability to improve or the strength of our patents and other intellectual property; our inability to project the value of markets and such other risks as identified in our quarterly report on Form 10-Q for the period ended September 30, 2006, as filed with the Securities and Exchange Commission, and all subsequent filings, which contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements. 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.