The Ospreys will still need to beat Leicester and Treviso in their remaining two games but Rees was adamant the performance against the four-time European champions was evidence there is an exciting future for Welsh rugby.
"We said we would play to the last in this group regardless of the results. We knew three wins from our last three games might give us a quarter-final place in this competition or the Amlin Challenge Cup," said Rees.
"Leicester have snuck a result in Treviso which does not help us, but it puts something on the game at home to them next month.
"We also denied Toulouse a losing bonus point. We felt if they got that today then in the next game they could get to 19 points, which we would have found difficult to surpass, but there is still a bit to play for there.
"We will just continue to plough on in terms of what we want to achieve.
"We think we offer a light at the end of the tunnel. People are quick to beat up Welsh rugby but we are confident in the future direction of the team.
"We said after losing in Toulouse last week that we are trying to develop 20-25 players who can compete and achieve in the Ospreys shirt, and this result today shows we can do that and maybe more."
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