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8-K - PITTSBURGH & WEST VIRGINIA RAILROADForm8K3172011.txt

Exhibit 99.1
Press Release, dated March 17, 2011


FOR IMMEDIATE RELEASE: March 17, 2011


Charleston, WV, March 17, 2011.  On February 15, 2011, the
Registrant announced that it filed a registration statement on
Form S-3 (the "Registration Statement") with the Securities
and Exchange Commission (the "SEC") to issue 103,250 common
shares of beneficial interest, no par value, pursuant to a
rights offering to its existing shareholders ("Rights
Offering").  The Rights Offering successfully closed at 5:00
p.m., Eastern Time, on March 16, 2011 and, on a preliminary
basis, approximately 38,562 rights were subscribed to by
existing shareholders.  Rights that were not subscribed for as
provided in the Rights Offering documentation have expired and
have zero value.  Any shares that were not subscribed for
pursuant to the Rights Offering will be purchased by the
standby purchaser pursuant to the Standby Purchase Agreement.
The Registrant will have 1,623,250 shares outstanding after
the Rights Offering, including shares purchased by the standby
purchaser.