Steeping a starchy grain might get you a bit of flavor but you would be far better off mashing the rice. It will need to be cooked first then mixed with and equal weight of milled pale malt to do a mini-mash.
tried it anyway today, and after steeping for 40 mins I got some nice smelling water, then i put the extract and hops in and all i smell is that, maybe the flavor will show back up after bottling. The book said it took second place in some contest. Anyway how bad can it be, I've never had a beer that was undrinkable.