Exclusive B-meson Rare Decays and General Relations of Form Factors in Effective Field Theory of Heavy Quarks

B meson rare decays ($Bto K(K^{*})lbar l$ and $Bto K^*gamma$) are analyzed in the framework of effective field theory of heavy quarks. The semileptonic and penguin type form factors for these decays are calculated by using the light cone sum rules method at the leading order of $1/m_Q$ expansion. Four exact relations between the two types of form factors are obtained at the leading order of $1/m_Q$ expansion. Of particular, the relations are found to hold for whole momentum transfer region. We also investigate the validity of the relations resulted from the large energy effective theory based on the general relations obtained in the present approach. The branching ratios of the rare decays are presented and their potential importance for extracting the CKM matrix elements and probing new physics is emphasized.