Rival Technologies Inc.

Rival Technologies Inc.

October 23, 2007 09:00 ET

Rival Technologies Inc.-Announces Corporate Update

LAS VEGAS, NEVADA--(Marketwire - Oct. 23, 2007) - Rival Technologies Inc. (PINK SHEETS:RVTI) is pleased to provide shareholders with an update of recent activities as we continue to move the business development plan forward.

Introduction of the TRU™ technology, within the primary heavy oil upgrading market, is underway. The target market consists of three groups of oil exploration companies; large, intermediate and multi-national, all with existing or planned SAGD projects. Further, we have identified five high potential development partners within each group. Negotiations are progressing well with initial results expected during the next two months.

In addition, steps are being taken to increase investor awareness of Rival Technologies Inc. We have recently contracted with TVA Productions to produce and distribute a large multi-media marketing campaign focused on market potential for the TRU™ process and Rival Technologies. It is expected to begin during the fourth quarter and continue into 2008.

In August we returned to fully reporting and current status within the SEC. To maintain our status going forward we have engaged Chisholm, Bierwolf & Nilson, LLC, Certified Public Accountants, as our independent registered public accounting firm.

Negotiations to move Rival Technologies Inc. from the "Pink Sheets" to a more senior exchange that better suits its potential are underway, subject to the successful execution of our business development plan. Further updates will be provided as they occur.

Worldwide, oil sand and heavy oil resources are massive. The average reserve of each SAGD (Steam Assisted Gravity Drained) project is 3 billion barrels of oil. In Canada alone producers have a total reserve of 1.3 trillion barrels of heavy oil that will be developed over the next 40 years. These producers represent the prime market for TRU technology.

Rival Technologies Inc. is an innovative energy related technology company, investing in emerging technologies. Rival has filed several provisional patents and patent applications and is now focused on licensing its technology for industry use. Each technology benefits the environment, reduces global warming, and has exceptional market segment potential.

On behalf of the Board of Directors

Douglas Thomas, President & CEO

Rival Technologies Inc.

Certain statements in this press release constitute "forward looking statements" within the meaning of the United States Securities Legislation. The Company's actual results could differ from those in the forward-looking statements. Do not construe this information as investment advice. This is not a solicitation to buy or sell securities. This does not purport to be a complete analysis of the Company. Investing in securities is speculative and carries a high degree of risk. Past performance does not guarantee future results. Readers should consult their own independent advisers with any investment, including any contemplated investment. All information contained in this press release should be independently investigated. This press release contains forward-looking statements. These remarks involve risks and uncertainties. Risks are not limited to quarterly fluctuations in results or the companies' management of growth and competition. Other risks are detailed in the Company's SEC filings. Actual results may differ materially from such information set forth herein.

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