The Board of Directors of Raser Technologies, Inc. ("Raser" or the "Company") has unanimously appointed John T. Perry to serve as the Company's Chief Financial Officer. In connection with Mr. Perry's appointment, on February 19, 2010, Raser entered into an Employment Agreement with Mr. Perry (the "Employment Agreement") with the following material terms:

1.        Mr. Perry's annual base salary will be $250,000.

Mr. Perry, age 43, has extensive experience in the mining and metals industry. From 2007 to 2010, Mr. Perry worked as Chief Executive Officer, President and Director of Nord Resources Corporation ("Nord"), a publicly traded mining company based in Tucson, AZ. Prior to his appointment as Chief Executive Officer, Mr. Perry served as the Chief Financial Officer, Senior Vice President, Treasurer and Secretary of Nord from 2005 to 2007. At Nord, Mr. Perry was responsible for the initial public offering of Nord, including listing on the Toronto Stock Exchange and OTCBB. From 2003 to 2005, Mr. Perry served as Vice President - Director, for the International Mining and Metals Group at CB Richard Ellis. From 1996 to 2003, Mr. Perry held various positions with BHP Billiton Base Metals and BHP Copper Inc., including President and Vice President Finance and Administration. Among his many responsibilities in these positions BHP Copper Inc., Mr. Perry led merger and acquisition activity resulting in over $500 million in transactions. Mr. Perry is a Certified Public Accountant and holds an undergraduate degree in Business Administration as well as an MBA from the University of Arizona.