Rival Technologies Inc.
OTC Bulletin Board : RVTI

Rival Technologies Inc.

December 18, 2008 09:01 ET

Rival Technologies Inc.-Provides Year-End Update to Shareholders

HENDERSON, NEVADA--(Marketwire - Dec. 18, 2008) - Rival Technologies Inc. (OTCBB:RVTI) is pleased to provide shareholders with a year end update of current and planned activities as we continue to execute on the second of our four phase development plan.

As previously announced, timing of the financing to fund final engineering and construction of the pilot plant has been adjusted to align with the current market malaise however; interest in the opportunity remains positive and expected progress updates will be announced as they become available.

Even though full-scale upgrader cost increases coupled with recent lower oil prices have clouded the short term sector outlook, expectations that one or more major heavy oil producers will participate in the operation of our continuous feed pilot plant, remain positive over the longer term.

It is important for shareholders to note the majority of recently announced oilsands project delays are of the very large scale bitumen mining projects, not of the smaller footprint SAGD projects.

Our outlook for 2009 remains positive. In the current economic climate, significantly lower capital expenditures for construction of the TRU™ process provide an economically attractive solution for primary upgrading in the field and a significant improvement to the bottom line of SAGD projects. In addition, the process delivers a premium grade, low metals, synthetic crude oil, beneficial to both the SAGD producer's project economics and to downstream refiners.

Worldwide, oil sand and heavy oil resources are massive. In Canada alone producers have a total reserve of 1.3 trillion barrels of heavy oil that will need to be developed over the next 40 years. Before moving from the field to the refinery the resource will need to be upgraded. These producers represent the prime market for TRU™ process technology.

Rival Technologies Inc. is an innovative energy related technology company, investing in emerging technologies with extraordinary market potential. Rival has filed several provisional patents and patent applications and is focused on licensing its technology for industry use.

We thank you for your continued support and wish everyone a happy holiday season.

Douglas B. Thomas, President & CEO

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 Company's 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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