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PREIT Announces Results of Annual Meeting of Shareholders

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  Published in Business and Finance on Thursday, June 3rd 2010 at 17:40 GMT by Market Wire
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PHILADELPHIA--([ BUSINESS WIRE ])--Pennsylvania Real Estate Investment Trust (NYSE: PEI) announced the results of shareholder voting that took place during the Companya™s 2010 Annual Meeting of Shareholders held earlier today. Shareholders reelected as trustees Dorrit J. Bern, Stephen B. Cohen, Joseph F. Coradino, M. Walter Da™Alessio, Edward A. Glickman, Rosemarie B. Greco, Leonard I. Korman, Ira M. Lubert, Donald F. Mazziotti, Mark E. Pasquerilla, John J. Roberts, George F. Rubin, and Ronald Rubin, each to hold office until the 2011 annual meeting and until their respective successors have been duly elected and have qualified. Of the total number of shares voted, each trustee received over 95 percent in favor of his or her election.

On the proposals to approve the Amended and Restated 2003 Equity Incentive Plan and the Amended and Restated Employee Share Purchase Plan, a majority of the shares outstanding were voted on each of the proposals and, of those, nearly 90 percent voted to approve these two plans. Additionally, over 97 percent of the shares voted, did so in favor of ratification of the selection of KPMG LLP as the Companya™s independent auditor for 2010.

Biographies of all trustees, and summaries of the Amended and Restated 2003 Equity Incentive Plan and the Amended and Restated Employee Share Purchase Plan, can be found in the Companya™s Proxy Statement available on its website, [ www.preit.com ].

About Pennsylvania Real Estate Investment Trust

Pennsylvania Real Estate Investment Trust, founded in 1960 and one of the first equity REITs in the U.S., has a primary investment focus on retail shopping malls and power centers. Currently, the Company's portfolio consists of 54 properties, including 38 shopping malls, 13 strip and power centers, and three development properties. The Company's properties are located in 13 states in the eastern half of the United States, primarily in the Mid-Atlantic region. The operating retail properties have approximately 35 million total square feet of space. PREIT is headquartered in Philadelphia, Pennsylvania. The Company's website can be found at [ www.preit.com ]. PREIT is publicly traded on the NYSE under the symbol PEI.