Power REIT's (the "Trust") 2012 Annual Meeting of shareholders was held on May 24, 2012, at which time the shareholders elected the Trust's nominees (David H. Lesser, Virgil E. Wenger, William S. Susman and Patrick R. Haynes, III), ratified the Trust's independent audit firm and approved the Trust's 2012 Equity Incentive Plan. The results were certified by American Election Services, LLC, the annual meeting's Independent Inspector of Elections, as follows:

1) The election of the following trustees to serve until the Trust's next annual meeting:

                        FOR             WITHHELD
David. H. Lesser        582,714         17,406
Virgil E. Wenger        576,125         23,995
William S. Susman       581,762         18,358
Patrick R. Haynes, III  564,921         35,199

2) The ratification of Gibbons & Kawash, A.C. ("GK") as the Trust's independent audit firm for 2012.

2) The approval of Power REIT's 2012 Equity Incentive Plan ("Plan").