Attached files

Exhibit 99.1

PRESS RELEASE: MAY 29, 2012

Results of Power REIT Annual Meeting of Shareholders


WEST BABYLON, NY, May 29, 2012.  Power REIT (AMEX: PW), today reported
that at its annual shareholder meeting held on May 24, 2012, its nominees
(David H. Lesser, Virgil E. Wenger, William S. Susman and Patrick R.
Haynes, III) were re-elected to serve as trustees until the 2013 annual
meeting.

Mr. David Lesser, Power REIT's Chairman and Chief Executive Officer, said
after the meeting, "we thank our shareholders for their continued support
and look forward to getting back to business. We believe the company has
accomplished a lot in the past twelve months through its reorganization
and shelf offering, which went effective in early May.  Through these
efforts, the company is poised to execute its infrastructure REIT
business plan to acquire real estate related to energy and transportation
infrastructure assets. We are currently focused on acquiring real estate
leased to renewable power generating projects that have power purchase
contracts with investment grade utilities.  These real estate assets are
expected to provide shareholders with predictable, long-term cash flow."

Power REIT's nominees were re-elected without opposition.  A shareholder
holding 1,000 shares filed proxy materials for the second year in a row,
but did not attend this year's annual meeting and did not nominate a
slate at the meeting.   Shareholders also ratified Gibbons & Kawash, A.C.
as Power REIT's independent audit firm and also approved Power REIT's
2012 Equity Incentive Plan.   The shareholder vote was certified by
American Election Services, LLC, the annual meeting's Independent
Inspector of Elections, as follows:

Election of Nominees to
Serve as Trustees until 2013:	FOR		WITHHELD
David H. Lesser			582,714		17,406
Virgil W. Wenger		576,125		23,995
William S. Susman		581,762		18,358
Patrick R. Haynes		564,921		35,199


Ratification of Gibbons		FOR		AGAINST		ABSTAIN
& Kawash, A.C.			587,946		8,229		3,946


Approval of 2012 Equity		FOR		AGAINST		ABSTAIN
Incentive Plan			499,543		90,377		10,200

The company has posted an updated shareholder presentation detailing its
business plan on its website at www.pwreit.com, under "Investor
Relations."  Shareholders that have questions or comments are encouraged
to contact the company at 212-750-0373 or at ir@pwreit.com.

Forward Looking Statements

This press release may contain include forward-looking statements within
the meaning of the Securities Act of 1933, as amended, and Securities
Exchange Act of 1934, as amended. Forward-looking statements are those
that predict or describe future events or trends and that do not relate
solely to historical matters. You can generally identify forward-looking
statements as statements containing the words "believe," "expect,"
"will," "anticipate," "intend," "estimate," "would," "should," "project,"
"plan," "assume" or other similar expressions, or negatives of those
expressions, although not all forward-looking statements contain these
identifying words. All statements contained in this press release
regarding Power REIT's future strategy, future operations, projected
financial position, estimated future revenues, projected costs, future
prospects, the future of the Power REIT's industries and results that
might be obtained by pursuing management's current or future plans and
objectives are forward-looking statements. Over time, Power REIT's actual
results, performance or achievements will likely differ from the
anticipated results, performance or achievements that are expressed or
implied by the Power REIT's forward-looking statements, and such
difference might be significant and materially adverse to Power REIT's
security holders.

All forward-looking statements reflect the Power REIT's good faith
beliefs, assumptions and expectations, but they are not guarantees of
future performance.  Furthermore, Power REIT disclaims any obligation to
publicly update or revise any forward-looking statement to reflect
changes in underlying assumptions or factors, of new information, data or
methods, future events or other changes.  For a further discussion of
these and other factors that could cause Power REIT's future results to
differ materially from any forward-looking statements, see the section
entitled "Risk Factors" in Power REIT's shelf registration statement
filed with the SEC on Form S-3/A on May 11, 2012, and other risks
described in documents subsequently filed by Power REIT from time to time
with the SEC