You can create a Press Release either by paying someone(it will cost probably $15 to $40) or can use this online tool (there are many available, check Google)
As far as the list of Free Press Releases are concerned here is the list.
http://marketwire.com
http://businesswire.com
http://www.1888pressrelease.com/
http://www.24-7pressrelease.com
http://www.addpr.com/
http://www.california-press-release.com
http://www.click2newsites.com/
http://www.clickpress.com/
http://www.e-xl.com
http://www.ereleases.com
http://www.florida-press-release.com
http://www.free-news-release.com/
http://www.free-press-release.com
http://www.freepressreleases.co.uk/
http://www.georgia-press-release.com
http://www.i-newswire.com/
http://www.illinois-press-release.com
http://www.maryland-press-release.com
http://www.massachusetts-press-release.com
http://www.media-press-release.com/
http://www.newyork-press-release.com
http://www.ohio-press-release.com
http://www.pr.com/
http://www.pr9.net/
http://www.prbot.com
http://www.press-base.com/
http://www.press-service.net/
http://www.press-world.com/add
http://www.pressbox.co.uk/
http://www.prfree.com/
http://www.PRnewswire.com
http://www.texas-press-release.com
http://www.theopenpress.com/
http://www.virginia-press-release.com
and few More sites –
http://www.clickpress.com
http://www.webwire.com/
http://www.emediawire.com
http://www.businesswire.com
http://www.prwebdirect.com -
http://www.theopenpress.com
http://www.free-press-release.com
http://www.pressbox.co.uk
http://www.i-newswire.com/
http://www.pr9.net
http://www.pr-inside.com
http://www.newswire.ca/
http://www.pressreleasenetwork.com
http://www.marketwire.com
http://www.urlwire.com/
http://www.prweb.com (small contribution)
http://www.prurgent.com
http://www.prleap.com -
http://www.prnewswire.com
http://www.prfree.com/
http://www.openpress.com/
http://www.softpressrelease.com
NOTE:-
1. The list is old and I am copy/pasting as it is, The last time I had checked some of the sites were not accepting free submissions.
2. Though FREE is good, but going for paid is totally worth it. I think PRweb costs $80(there are other packages too), so if you think the News is worthy enough and can be picked by others than go for it.
