FEV, Raser to Jointly Develop Powertrain to be Fitted Into Raser Plug-In Hybrid Vehicle

FEV, Raser to Jointly Develop Powertrain to be Fitted Into Raser Plug-InHybrid VehicleFEV will serve as integrator for powertrain targeting 100 miles per gallonfuel economy

AUBURN HILLS, Mich., Nov. 29 /PRNewswire-FirstCall/ -- FEV, a leadingdeveloper of advanced powertrain and vehicle technologies, announced recentlythat it has entered into an agreement with Raser Technologies, Inc. (RaserTechnologies) (NYSE: RZ) to integrate Raser Technology's Symetron(TM) electricmotor and power electronic drive powertrain technology into a traditionalinternal combustion gasoline engine. Raser recently announced that it hadsigned an agreement with an undisclosed global automotive manufacturer toproduce a plug-in hybrid electric demonstration vehicle using Raser'stechnology. The resulting demonstration vehicle is targeted to achieve a fueleconomy of approximately 100 mpg.

The project builds on the reputation that FEV has gained in developingalternative fuel and powertrain solutions for its OE customers as well asother commercial and government customers such as the U.S. EnvironmentalProtection Agency.

"We look upon this project as an opportunity to demonstrate powertraininnovation," said Gary Rogers, president of FEV's U.S. operations. "The speedof change in the powertrain industry requires vision and rapid development.Through projects such as this in conjunction with Raser, we are able to applypractical technologies that will result in reduced fuel consumption andpreservation of our environment."Jim Spellman, Raser's vice president of transportation, said, "We areexcited to be working with FEV on this project. FEV is a global leader inpowertrain and vehicle integration with extensive experience in powertraindevelopment for OE customers. This experience will enable Raser Technologiesand FEV to develop a viable vehicle with application in today's marketplace."

About Raser Technologies

Raser (NYSE: RZ) is a publicly-traded, environmentally-focused technologylicensing and development company operating in two business segments. Raser'sTransportation and Industrial Technology segment focuses on using Raser'saward-winning Symetron(TM) technology to improve the efficiency of electricmotors, power electronic drives and other applications. Raser's Power Systemssegment is seeking to develop clean, renewable geothermal electric powerplants and bottom-cycling operations, incorporating licensed heat transfertechnology and Raser's Symetron(TM) technology. Further information on Rasermay be found at: http://www.rasertech.com.

About FEV

FEV is an internationally recognized powertrain and vehicle engineeringcompany that supplies the global transportation industry. FEV offers acomplete range of engineering services, providing support across the globe tocustomers in the design, analysis, prototyping, powertrain and transmissiondevelopment, as well as vehicle integration, calibration and homologation foradvanced internal combustion gasoline-, diesel-, and alternative-fueledpowertrains. FEV also designs, develops and prototypes advanced vehicle /powertrain electronic control systems and hybrid-electric engine concepts thataddress future emission and fuel economy standards. FEV Test Systems, Inc. isa global supplier of advanced test cell, instrumentation and test equipment.FEV employs a staff of over 1,400 highly skilled specialists at advancedtechnical centers on three continents.SOURCE FEVLeah Heidt, +1-248-373-6000, heidt@fev-et.com, or Marc Harlow,marc@harlowpr.com, both of FEV Engine Technology, Inc.; or Joe Rohatynski ofRohatynski-Harlow Public Relations for FEV, +1-517-579-0789, joe@joepr.com